What is the definition of Variable Insurance Rider (VAI)?
The Variable Additional Insurance Rider is a dividend option that permits the policy owner to direct the policy dividend, excluding any dividend payable on the Option to Purchased Additional Insurance (PAIR), into a Fixed Account within Metropolitan Life General Account for NY issues and MLI-USA General Account for issues outside NY, the Separate Account or a combination of both. Within the Separate Account, the dividend may be allocated to several Investment Divisions. The cash value as well as the death benefit of the VAI will vary based on the investment return of the Investment Division(s) underlying the rider. This rider’s contract name is Option for Variable Additional Insurance Rider.
