Pioneer PRISM XC Variable Annuity - Pioneer Investments
Pioneer PRISM XC Variable Annuity - Pioneer Investments
Pioneer PRISM XC Variable Annuity - Pioneer Investments
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an owner of such a contract presents a legitimate claim for<br />
payment, General American Life Insurance Company will<br />
pay such claim directly to the contract owner if First<br />
MetLife Investors is unable to make such payment. This<br />
guarantee is enforceable by such contract owners against<br />
General American Life Insurance Company directly<br />
without any requirement that contract owners first file a<br />
claim against First MetLife Investors. The guarantee<br />
agreement is binding on General American Life Insurance<br />
Company, its successors or assignees and shall terminate<br />
only if the guarantee is assigned to an organization having<br />
a financial rating from certain specified rating agencies<br />
equal to or better than General American Life Insurance<br />
Company’s rating.<br />
We are a member of the Insurance Marketplace Standards<br />
Association (“IMSA”). Companies that belong to IMSA<br />
subscribe to a set of ethical standards covering the various<br />
aspects of sales and service for individually sold life<br />
insurance and annuities.<br />
The Separate Account<br />
We have established a Separate Account, First MetLife<br />
Investors <strong>Variable</strong> <strong>Annuity</strong> Account One (Separate<br />
Account), to hold the assets that underlie the contracts.<br />
Our Board of Directors adopted a resolution to establish<br />
the Separate Account under New York insurance law on<br />
December 31, 1992. We have registered the Separate<br />
Account with the Securities and Exchange Commission as a<br />
unit investment trust under the Investment Company Act of<br />
1940. The Separate Account is divided into subaccounts.<br />
The assets of the Separate Account are held in First MetLife<br />
Investors’ name on behalf of the Separate Account and<br />
legally belong to First MetLife Investors. The Separate<br />
Account is subject to the laws of the State of New York.<br />
However, those assets that underlie the contracts are not<br />
chargeable with liabilities arising out of any other business<br />
First MetLife Investors may conduct. All the income, gains<br />
and losses (realized or unrealized) resulting from these<br />
assets are credited to or charged against the contracts and<br />
not against any other contracts First MetLife Investors may<br />
issue.<br />
We reserve the right to transfer assets of the Separate<br />
Account to another account, and to modify the structure or<br />
operation of the Separate Account, subject to necessary<br />
regulatory approvals. If we do so, we guarantee that the<br />
modification will not affect your account value.<br />
The amount of the guaranteed death benefit that exceeds<br />
the account value is paid from our general account. In<br />
addition, portions of the contract’s guaranteed living<br />
benefits payable may exceed the amount of the account<br />
value and be paid from our general account. Benefit<br />
amounts paid from the general account are subject to the<br />
claims-paying ability of First MetLife Investors.<br />
Distributor<br />
We have entered into a distribution agreement with our<br />
affiliate, MetLife Investors Distribution Company<br />
(Distributor), 5 Park Plaza, Suite 1900, Irvine, CA 92614,<br />
for the distribution of the contracts. Distributor is a<br />
member of the Financial Industry Regulatory Authority<br />
(FINRA). FINRA maintains a Public Disclosure Program<br />
for investors. A brochure that includes information<br />
describing the Program is available by calling FINRA’s<br />
Public Disclosure Program hotline at 1-800-289-9999, or<br />
by visiting FINRA’s website at www.finra.org.<br />
Distributor, and in certain cases, we, have entered into<br />
selling agreements with other affiliated and unaffiliated<br />
selling firms for the sale of the contracts. We pay<br />
compensation to Distributor for sales of the contracts by<br />
selling firms. We also pay amounts to Distributor that may<br />
be used for its operating and other expenses, including the<br />
following sales expenses: compensation and bonuses for the<br />
Distributor’s management team, advertising expenses, and<br />
other expenses of distributing the contracts. Distributor’s<br />
management team also may be eligible for non-cash<br />
compensation items that we may provide jointly with<br />
Distributor. Non-cash items include conferences, seminars<br />
and trips (including travel, lodging and meals in connection<br />
therewith), entertainment, merchandise and other similar<br />
items.<br />
Certain investment portfolios make payments to<br />
Distributor under their distribution plans in consideration<br />
of services provided and expenses incurred by Distributor<br />
in distributing shares of the investment portfolios. (See<br />
“Fee Tables and Examples — Investment Portfolio<br />
Expenses” and the fund prospectuses.) These payments<br />
range from 0.15% to 0.25% of Separate Account assets<br />
invested in the particular investment portfolio.<br />
Selling Firms<br />
As noted above, Distributor, and in certain cases, we, have<br />
entered into selling agreements with affiliated and<br />
unaffiliated selling firms for the sale of the contracts.<br />
Affiliated selling firms include Tower Square Securities, Inc.<br />
and Walnut Street Securities, Inc. All selling firms receive<br />
commissions, and they may also receive some form of noncash<br />
compensation. Certain selected selling firms receive<br />
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