quarterly portfolio guide - massmutualquarterly portfolio guide december 31, 2013 gain insight into...

Insight into the underlying funds of Variable Universal Life III (VUL III) Insurance

An Educational Guide for Individuals

Investment Strategies

Quarterly Portfolio Guide December 31, 2013

Gain insight into your investment choicesThe Variable Universal Life III (VUL III) insurance policy offers a broad range of investment choices so you and your financial professional can develop an investment strategy that fits your risk tolerance, time horizon and investment objectives. This brochure provides important information so you can gain a true insight into these investment choices and select the investment choices that best suit you.

VUL III is a permanent life insurance policy that combines death benefit protection with the opportunity to accumulate policy value through investments in a separate account with underlying investment funds, and a guaranteed principal account. This report gives information only about the performance of the investment options available through the policy. It does not give, and should not be understood to give, information about the overall performance of any VUL III policy. Before purchasing a VUL III policy, you should request a personalized illustration from your financial representative to see examples of how policy charges can impact the performance of your policy. The illustration will reflect the deduction of asset charges, premium expense charges, surrender charges, and the monthly administrative, face amount, and insurance charges, as well as any applicable rider charges specific to the policy. If you currently own a policy, you can obtain current illustrations of policy values by contacting your personal financial representative, or by clicking on “contact us” on our web site, or by calling the MassMutual Customer Service Center at 800-272-2216, Monday - Friday, 8 a.m. to 8 p.m. eastern time.

The investment performance figures in this report are based on actual historical performance of the investment options for the periods shown, including for those time periods that begin prior to a policy’s availability date. In most states, the first policy became available on November 3, 2008. For periods of one year or less, the total return is not annualized. For periods greater than one year, the average annual total return for the time periods is shown.

This material must be preceded or accompanied by the current prospectus for the VUL III insurance policy and the prospectuses (or summary prospectuses, if available) for its underlying investment choices. Before purchasing a policy, investors should carefully consider the investment objectives, risks, charges and expenses of the policy and its underlying investment choices. Please read the prospectuses carefully before investing or sending money.

Not FDIC or NCUA Insured Not a Bank or Credit Union Deposit or ObligationMay Go Down in Value Not Insured by any Federal Government Agency

Not Guaranteed by any Bank or Credit Union

1 of 78

http://www.massmutual.com/productssolutions/productperformance/lifeinsurance/vuliii

Brand-name investment management

VUL III offers some of the most recognizable names in money management today. Massachusetts Mutual Life Insurance Company (MassMutual) strives to provide policyowners with access to high-caliber investment managers who offer consistent, quality investment strategies. The ability to invest in investment choices managed by these types of experienced investment management companies may help you attain your desired investment results over the long term.

As of May 1, 2013, subject to change.

2 of 78

Broad range of investment choices*(Fund sub-adviser as noted in parenthesis)

* Investment choices listed are available as of the date of this brochure.

Investing involves risk, including the loss of principal. Each investment choice underlying the variable life insurance policy has broad risks that apply to all investment choices, such as market risk, as well as specific risks inherent in particular types of investment choices that may subject your variable life insurance policy to greater risk and volatility than the general market.

1 Formerly known as MML Small/Mid Cap Equity.2 Formerly known as Oppenheimer Small- & Mid-Cap Growth.

Value Blend Growth

Large Cap •MML Equity (Oppenheimer/Loomis Sayles)

•MML Equity Income (T. Rowe Price)

•MML Income & Growth (BlackRock)

•Fidelity® VIP Contrafund®

•Invesco V.I. Diversified Dividend

•MML Equity Index (Northern Trust)

•MML Growth & Income (MFS®)

•Oppenheimer Main Street

•MML Blue Chip Growth (T. Rowe Price)

•Oppenheimer Capital Appreciation

Small/Mid Cap •MML Mid Cap Value (American Century)

•MML Small/Mid Cap Value (AllianceBernstein)

•MML Small Cap Equity (Oppenheimer) 1

•MML Mid Cap Growth (T. Rowe Price)

•MML Small Cap Growth Equity (Waddell & Reed and Wellington)

•Oppenheimer Discovery Mid Cap Growth2

3 of 78

Fixed Income Other Categories Global/International

Money Market•MML Money Market (Babson) 3

Inflation-Protected Bond•MML Inflation-Protected and Income

(Babson)

Investment Grade Bond•MML Managed Bond (Babson)

Multi Sector•Oppenheimer Global Strategic Income

Asset Allocation4

•MML Conservative Allocation

•MML Balanced Allocation

•MML Moderate Allocation

•MML Growth Allocation

•MML Aggressive Allocation

Specialty

•ING Clarion Global Real Estate

•Invesco V.I. Global Health Care

•Invesco V.I. Technology

•MML Managed Volatility (Gateway) 5

•PIMCO CommodityRealReturn® Strategy

Global Equity•MML Global (MFS®)

•Oppenheimer Global6

International Equity•MML Foreign (Templeton)

•Oppenheimer International Growth

3 An investment in the Fund is neither insured or guaranteed by the Federal Deposit Insurance Corporation or by any other government agency. Although the Fund seeks to maintain a stable net asset value per share, it is possible to lose money by investing in these funds.

4 Funds offered in a fund-of-funds structure may have higher expenses than a direct investment in the underlying funds because a fund-of-funds bears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.

5 Formerly known as MML Large Cap Value.6 Formerly known as Oppenheimer Global Securities.

4 of 78

The fact sheets included in this brochure provide detailed information about the historical performance of the investment choices in your VUL III policy. They also provide valuable information about the underlying funds that the investment choices (divisions) invest in. Please refer to these important definitions and concepts as you review the fact sheets. They will help you gain a better understanding of the investment choices you have elected, or the investment choices you may elect in the future. Important note: the fact sheets cannot be printed separately.

PerformanceThe performance numbers for each investment choice varies by the level of fees and charges deducted. Fees and charges will reduce your investment return.

Past performance is no indication of future results. Current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For the most recent month end performance, please visit our Web site at www.massmutual.com or by calling our customer service center at (800) 272-2216, 8:00 a.m. to 8:00 p.m. (ET).

Total Returns for each fund are the actual historical rates and are net of all fund management fees and other operating expenses. These returns do not reflect the Separate Account Mortality and Expense Charges or policy charges. Policy charges include: premium charges (i.e. sales load, state premium tax and DAC tax charges), and the monthly administrative, face amount, and insurance charges. If these charges were deducted, the returns would be significantly lower.

Fund ExpensesGross Fund Expenses are the total operating expenses charged by any of the funds, expressed as a percentage of average net assets, for the prior year end. More detail concerning each fund’s fees and expenses that you may pay periodically during the time that you own the policy, is contained in each fund prospectus.

Net Fund Expenses are the Total Annual Fund Operating Expenses, minus any waivers or reimbursements put in place by the fund company.

Fundamental Characteristics (Fixed Income and Equity)Coupon is the dollar-weighted average of all the current coupons of the bonds in a portfolio.

Credit Quality represents the grading of a debt security with respect to the issuer’s ability to meet interest and principal requirements in a timely manner. Issues rated AAA, AA, A and BBB are considered investment grade, while issues rated BB, B and below are considered below investment grade or high yield bonds. Higher rated bonds generally provide lower yields and greater safety relative to below investment grade bonds.

Dividend Yield is the yield a company pays out to its shareholders in the form of dividends. It is calculated by taking the amount of dividends paid per share over the course of a year and dividing by the stock’s price.

Duration represents the interest rate sensitivity of a fixed income fund. For example, if a fund’s duration is five years, a 1% increase in interest rates would result in a 5% decline in the fund’s price. Similarly, a 1% decline in interest rates would result in a 5% gain in the fund’s price.

Earnings per Share (EPS) are total earnings divided by the number of shares outstanding.

Historical Three-Year EPS Growth is the percent change in earnings per share (EPS) over the past three years.

Market Capitalization represents the aggregate value of a company or stock. It is obtained by multiplying the number of shares outstanding by their current price per share. For example, if XYZ company has 15,000,000 shares outstanding and a share price of $20 per share then the market capitalization is 15,000,000 x $20 = $300,000,000.

Maturity (Life) is the dollar-weighted average of all the current maturities of the bonds in a portfolio. The longer the average life, the more sensitive the portfolio will be to changes in interest rates.

Important information about the fact sheets

5 of 78

Price to Book represents a stock’s market capitalization divided by its book value. This ratio compares the market’s valuation of a company to the value of that company as indicated on its financial statements.

Price to Earnings (P/E) are the most common measure of how expensive a stock is. The P/E ratio is equal to a stock’s market capitalization divided by its after-tax earnings over a 12-month period, usually the trailing period but occasionally the current or forward period.

Modern Portfolio Theory Risk StatisticsThese are statistics that will help you better understand the risk and return attributes of the underlying funds you invest in.

Alpha (risk-adjusted excess return) measures the difference between a funds actual return and what was expected based on its market risk (beta).

Beta (market risk) measures the sensitivity of a fund to its benchmark. For example, if a funds beta is 1.10, it is expected to move up or down 1.10 times that of the benchmark index.

R-Squared (goodness of fit) represents the correlation of a fund with its benchmark index. For example, an R-Squared of .90 means the benchmark is a good proxy for the type of securities held within the fund. A reading of .70 may mean an inappropriate benchmark, which reduces the validity of relative statistics such as alpha and beta.

Risk Reward Chart plots the return and standard deviation of the fund and index. The top left panel indicates greater return with less risk and the bottom left panel indicates less return with less risk. The top right panel indicates greater return with greater risk and the bottom right panel indicates less return with greater risk.

Sector Weight Chart/Table depicts the classification of holdings into broad sector groups identifying the general business operations of the company.

Sharpe Ratio (excess return per unit of risk) measures the return above or below the risk-free rate (T-bills), per unit of risk take (fund’s standard deviation).

Standard Deviation measures the fund’s volatility of returns, or level of absolute risk. If a portfolio has a standard deviation of 12%, its returns have been +/-12 percentage points of its average for two thirds of the measurement periods.

6 of 78

Indices DefinitionsIndices are an unmanaged group of stocks or bonds monitored to provide insight into how the markets are performing. Investment managers often benchmark the performance of the funds they manage against indices with attributes consistent with the funds strategy. For example, a large cap fund manager may benchmark their funds performance to the S&P 500. The definitions that follow will provide you a short description of each index.

Barclays Capital U.S. Aggregate Bond Index is an unmanaged index of fixed rate investment grade securities with at least one year to maturity combining the Barclays Capital Government/Credit Index and the Barclays Capital Mortgage-Back Securities Index.

Barclays Capital U.S. 1-3 Year Government Bond Index is an unmanaged index of U.S. government bonds with 1-3 years remaining to the scheduled payment of principal.

Barclays Capital U.S. Corporate High Yield Index covers the universe of fixed rate, non-investment grade debt. The index includes both corporate and non-corporate sectors.

Barclays Capital U.S. Treasury 3 Month Bellwether Index measures the performance of Treasury bills with a maturity of less than three months.

Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L) measures the performance of intermediate (1-10 year) U.S. Treasury Inflation Protected Securities.

Dow Jones (DJ) – AIG Commodity Total Return Index is an unmanaged index composed of futures contracts on 19 physical commodities. The index is designed to be a highly liquid and diversified benchmark of commodities as an asset class.

Morgan Stanley Capital International (MSCI®) AC World ex U.S. Index. is an index representative of stocks domiciled in global developed and emerging markets, excluding the United States.

Morgan Stanley Capital International Europe, Australasia and Far East Index (MSCI® EAFE®) is a widely recognized index representative of foreign securities in the major non-U.S. markets of Europe, Australasia and the Far East.

Morgan Stanley Capital International (MSCI®) Emerging Markets (EM) Index measures the performance of emerging market stocks.

Morgan Stanley Capital International (MSCI®) China Index is an unmanaged market capitalization-weighted index of Chinese companies available to non-domestic investors.

Morgan Stanley Capital International (MSCI®) World Health Care Index is a free float-adjusted market capitalization index that represents the health care segment in global developed market equity performance.

Morgan Stanley Capital International (MSCI®) World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets.

NASDAQ 100 Index® is a registered service mark of the NASDAQ Stock Market, Inc. (NASDAQ). The NASDAQ 100 Index is composed and calculated by NASDAQ without regard to the Fund. NASDAQ makes no warranty, express or implied, regarding , and bears no liability with respect to, the NASDAQ 100 Index or its use of any data included therein.

Russell 1000® Index is a widely recognized index representing the 1000 largest U.S. companies based on market capitalization. The Russell 1000® Growth Index consists of those Russell 1000 securities with greater than average growth orientation and higher price-to-book ratios. The Russell 1000® Value Index consists of those Russell 1000 securities with greater than average value orientation and lower price-to-book ratios. The Russell 1000 Index consists of the Russell 1000 Value and Russell 1000 Growth indices.

Russell 2000® Index is a widely recognized index representing common stocks of smaller capitalized U.S. companies. The Russell 2000® Growth Index consists of those Russell 2000 securities with greater than average

7 of 78

growth orientation and higher price-to-book ratios. The Russell 2000® Value Index consists of those Russell 2000 securities with greater than average value orientation and lower price-to-book ratios. The Russell 2000 Index consists of the Russell 2000 Value and Russell 2000 Growth indices.

Russell 2500TM Index is a widely recognized, unmanaged index representative of common stocks of small to mid-capitalization U.S. companies. The Russell 2500 Growth Index includes those Russell 2500 companies with higher price-to-book ratios and higher forecasted growth values. The Russell 2500 Value Index includes those Russell 2500 companies with lower price-to-book ratios and lower forecasted growth values.

Russell 3000® Index is a widely recognized index representing the 3000 largest U.S. companies based on market capitalization.

Russell Midcap® Index is a widely recognized index representing common stocks of mid-capitalization U.S. companies. The Russell Midcap® Growth Index consists of those Russell Midcap securities with greater than average growth orientation and higher price-to-book ratios. The Russell Midcap® Value Index consists of those Russell Midcap securities with greater than average value orientation and lower price-to-book ratios. The Russell Midcap Index consists of the Russell Midcap Growth and Russell Midcap Value indices.

S&P 500® Financials Index is a market capitalization-weighted index of companies involved in activities such as banking, consumer finance, investment banking and brokerage, asset management, insurance and investment and real estate, including REIT’s.

S&P 500® Index is a widely recognized, unmanaged index representative of common stocks of larger capitalized U.S. companies.

S&P Developed Property Index is an unmanaged adjusted index which defines and measures the investable universe of publicly traded property companies domiciled in developed countries that derive more than half of their revenue from property-related activities, such as property ownership, management, development, rental and investment.

S&P Mid-Cap 400® Index started in 1991 and tracks a diverse basket of medium-sized U.S. firms. A mid-cap stock is broadly defined as a company with a market capitalization ranging from about $2 billion to $10 billion. This index consists of 400 equities. The stocks are chosen based on market capitalization, liquidity and industry representation. The index contains firms that are situated in size between the S&P 500 Index and the S&P SmallCap 600 Index.

S&P North American Technology Sector Index is a capitalization-weighted index considered representative of the technology industry.

S&P SmallCap 600® Index invests in small-cap equities, which are generally defined as a stock with a market capitalization between $300 million and $2 billion. The S&P SmallCap 600 Index consists of 600 small-cap stocks.

8 of 78

Fund Name Page #

MML Aggressive Allocation Fund 10

MML Balanced Allocation Fund 12

MML Conservative Allocation Fund 14

MML Growth Allocation Fund 16

MML Moderate Allocation Fund 18

MML Inflation-Protected and Income Fund 20

MML Managed Bond Fund 22

MML Money Market Fund 24

Oppenheimer Global Strategic Income Fund/VA 26

Fidelity® VIP Contrafund® Portfolio 28

ING Clarion Global Real Estate Portfolio 30

Invesco V.I. Diversified Dividend Fund 32

Invesco V.I. Global Health Care Fund 34

Invesco V.I. Technology Fund 36

MML Blue Chip Growth Fund 38

MML Equity Fund 40

MML Equity Income Fund 42

MML Equity Index Fund 44

MML Growth & Income Fund 46

MML Income & Growth Fund 48

MML Managed Volatility Fund 50

MML Mid Cap Growth Fund 52

MML Mid Cap Value Fund 54

MML Small Cap Equity Fund 56

MML Small Cap Growth Equity Fund 58

MML Small/Mid Cap Value Fund 60

Oppenheimer Capital Appreciation Fund/VA 62

Oppenheimer Discovery Mid Cap Growth Fund/VA 64

Oppenheimer Main Street Fund®/VA 66

PIMCO CommodityRealReturn® Strategy Portfolio 68

MML Foreign Fund 70

MML Global Fund 72

Oppenheimer Global Fund/VA 74

Oppenheimer International Growth Fund/VA 76

Index of Investment Funds

9 of 78

MML Aggressive Allocation FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorNA

Portfolio ManagerStephen Brunette

Fund ObjectiveSeeks to achieve as high a total rate of returnon an annual basis as is considered consistentwith prudent investment risk and thepreservation of capital.

StrategyThe fund is a fund of funds and seeks toachieve its investment objective by investing ina combination of domestic and internationalmutual funds using an asset allocation strategy.The fund has an aggressive asset allocationstrategy with approximately 90% of its assetsinvested in equity funds and 10% invested infixed income funds, including money marketfunds.

Index*10% Barclays Capital US Aggregate (BarcapUS Agg®), 67.5% Russell 3000 (R3000®),22.5% MSCI AC World MSCI ACWIX xUS®

Morningstar Category (Peer Group)NA

Underlying Fund Inception8/31/2007

Date Added to Separate AccountNA

Gross Fund Expense1.04

Net Fund Expense1.04

8/0711/07

2/085/08

8/0811/08

2/095/09

8/0911/09

2/105/10

8/1011/10

2/115/11

8/1111/11

2/125/12

8/1211/12

2/135/13

8/1311/13

$5,000

$6,000$7,000

$8,000

$9,000

$10,000

$11,000

$12,000$13,000

$14,000

Growth of $10,000MML Aggressive Allocation Fund 10% Barcap US Agg®, 67.5% R3000®, 22.5% MSCI ACWI x US®

Underlying Fund Average Annual Total ReturnsReflects the deduction of total fund operating expenses, including any 12b-1fees.These returns do not reflect product charges.

Fund Name / Index* QTD YTD 1 YR 3 YR 5 YR 10 YR

MML Aggressive Allocation Fund 7.75 27.39 27.39 13.11 17.62 --Barcap US Agg®, R3000®, MSCIACWI x US® 7.86 25.47 25.47 12.66 16.34 --

SinceInception

5.63

--

10 of 78

MML Aggressive Allocation FundData as of: 12/31/2013

Underlying Fund AllocationEquity 89.42%Oppenheimer Global Securities Fund 2.20%Oppenheimer Small- & Mid-Cap Growth Fund 2.29%MML Small Mid Cap Value Fund 2.29%MML Small Cap Growth Equity Fund 2.90%MML Small Company Value Fund 3.08%MML Income & Growth Fund 3.65%MML Strategic Emerging Markets Fund 3.82%MML Global Fund 4.05%Oppenheimer International Growth Fund 4.13%MML Foreign Fund 4.76%MML Focused Equity Fund 5.82%MML Mid Cap Growth Fund 5.88%MML Mid Cap Value Fund 6.05%MML Fundamental Value Fund 6.44%MML Large Cap Growth Fund 7.07%MML Fundamental Growth Fund 7.15%MML Equity Income Fund 7.57%MML Blue Chip Growth Fund 10.30%

Fixed Income 10.58%MML Inflation-Protected and Income Fund 0.45%MML High Yield 0.66%MML Short-Duration Bond Fund 0.68%Oppenheimer Global Strategic Income Fund 1.13%MML PIMCO Total Return Fund 2.94%MML Managed Bond Fund 4.72%

Modern Portfolio Theory Risk StatisticsFund Index*

Annualized ReturnStandard DeviationBetaAlphaSharpe RatioR-Squared# Observations

13.11% 12.66%12.04% 11.75%

1.02 1.000.02% 0.00%1.08 1.07

98.58% 100.00%36-months 36-months

Fixed Income Fundamental CharacteristicsFund Index*

Weighted AverageCoupon -- --Maturity (life) 8.00 7.00Duration 4.91 5.36

Credit Quality BreakdownGovernment & Agency 0.00% 0.00%AAA 2.77% 2.70%AA 30.01% 73.25%A 10.70% 11.51%BBB 25.14% 10.30%BB 7.87% 0.31%B 5.25% 0.01%CCC and Below 2.59% 0.00%Cash and Equivalents 1.49% 0.00%Not Rated 3.32% 1.92%

Equity Fundamental CharacteristicsFund Index*

Market Capitalization $58,699 $81,700Price to Earnings 21.89 17.09Price to Book 3.02 2.36EPS 4.33 6.33Dividend Yield 1.39% 2.21%Hist 3Yr EPS Growth 17.88 14.44# of Securities 4,016 4,865

Risk Reward

11.65% 11.7% 11.75% 11.8% 11.85% 11.9% 11.95% 12% 12.05%Annualized Standard Deviation

12.5%12.6%12.7%12.8%12.9%

13%13.1%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Aggressive Allocation Fund10% Barcap US Agg®, 67.5% R3000®, 22.5% MSCI ACWI x US®

Disclosures• Performance numbers for periods that pre-date the contract's availability are hypothetical and are calculated based on the date shown, whichwas the date the fund was originally made available to the Separate Account.* Market Indices have been provided for informational purposes only; they are unmanaged and reflect no fees or expenses of the product.Individuals cannot invest directly in an index.• Percentages are based on dollar-weighted values of invested assets. Holdings are subject to change.• Funds offered in a fund-of-funds structure may have higher expenses than a direct investment in the underlying funds because a fund-of-fundsbears its own expenses and indirectly bears its proportionate share of expenses of the underlying funds in which it invests.• Investments in companies with small market capitalizations (small caps) may be subject to greater price volatility than investments incompanies with larger capitalizations because small caps are generally subject to special risks such as narrower markets, less financial resourcesand less liquid stocks.• Investments in below investment grade debt securities are generally subject to greater market fluctuations and risk of loss of income andprincipal than are investments in investment grade debt securities.• There are special risks associated with international investing such as differences in accounting practices, political changes, and currencyfluctuations. These risks are heightened in emerging markets.

11 of 78

MML Balanced Allocation FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorNA



StrategyThe fund is a fund of funds and seeks toachieve its investment objective by investing ina combination of domestic and internationalmutual funds using an asset allocation strategy.The fund has a balanced asset allocationstrategy with approximately half of its assetsinvested in equity funds and half of its assetsinvested in fixed income and money marketfunds.

Index*50% Barclays Capital US Aggregate (BarcapUS Agg®), 37.5% Russell 3000 (R3000®),12.5% (MSCI AC World) MSCI ACWI x US®






8/0711/07

2/085/08

8/0811/08

2/095/09

8/0911/09

2/105/10

8/1011/10

2/115/11

8/1111/11

2/125/12

8/1211/12

2/135/13

8/1311/13

$7,000

$8,000

$9,000

$10,000

$11,000

$12,000

$13,000

$14,000

Growth of $10,000MML Balanced Allocation Fund 50% Barcap US Agg®, 37.5% R3000®, 12.5% MSCI ACWI x US®



MML Balanced Allocation Fund 4.51 14.49 14.49 9.39 12.76 --Barcap US Agg®, R3000®, MSCIACWI x US® 4.25 12.54 12.54 8.72 11.34 --

SinceInception

5.60

--

12 of 78

MML Balanced Allocation FundData as of: 12/31/2013

Underlying Fund AllocationEquity 50.85%Oppenheimer Small- & Mid-Cap Growth Fund 1.09%MML Small Mid Cap Value Fund 1.21%MML Small Cap Growth Equity Fund 1.41%MML Small Company Value Fund 1.54%Oppenheimer Global Securities Fund 2.16%MML Focused Equity Fund 2.32%MML Global Fund 2.47%MML Mid Cap Growth Fund 2.92%Oppenheimer International Growth Fund 3.04%MML Income & Growth Fund 3.11%MML Mid Cap Value Fund 3.11%MML Foreign Fund 3.39%MML Large Cap Growth Fund 3.70%MML Fundamental Growth Fund 3.86%MML Fundamental Value Fund 4.52%MML Blue Chip Growth Fund 5.48%MML Equity Income Fund 5.55%




9.39% 8.72%7.19% 6.42%1.11 1.00

-0.02% 0.00%1.30 1.35

98.15% 100.00%36-months 36-months






Risk Reward

6.2% 6.4% 6.6% 6.8% 7% 7.2%Annualized Standard Deviation

8.6%

8.8%

9%

9.2%

9.4%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Balanced Allocation Fund50% Barcap US Agg®, 37.5% R3000®, 12.5% MSCI ACWI x US®


13 of 78

MML Conservative Allocation FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorNA



StrategyThe fund is a fund of funds and seeks toachieve its investment objective by investing ina combination of domestic and internationalmutual funds using an asset allocation strategy.The fund has a conservative asset allocationstrategy with approximately 40% of its assetsinvested in equity funds and 60% invested infixed income funds, including money marketfunds.

Index*60% Barclays Capital US Aggregate (BarcapUS Agg®), 30% Russell 3000 (R3000®), 10%MSCI AC World (MSCI ACWIXUS)®






8/0711/07

2/085/08

8/0811/08

2/095/09

8/0911/09

2/105/10

8/1011/10

2/115/11

8/1111/11

2/125/12

8/1211/12

2/135/13

8/1311/13

$8,000

$9,000

$10,000

$11,000

$12,000

$13,000

$14,000

Growth of $10,000MML Conservative Allocation Fund 60% Barcap US Agg®, 30% R3000®, 10% MSCI ACWI X US®


Fund Name / Index* QTD YTD 1 YR 3 YR 5 YR 10 YRMML Conservative AllocationFund 3.83 11.32 11.32 8.35 11.51 --Barcap US Agg®, R3000®, MSCIACWI X US® 3.36 9.49 9.49 7.67 10.02 --

SinceInception

5.84

--

14 of 78

MML Conservative Allocation FundData as of: 12/31/2013

Underlying Fund AllocationFixed Income 59.14%MML Inflation-Protected and Income Fund 1.43%MML High Yield 4.75%MML Short-Duration Bond Fund 6.88%Oppenheimer Global Strategic Income Fund 6.93%MML PIMCO Total Return Fund 13.45%MML Managed Bond Fund 25.71%

Equity 40.86%Oppenheimer Small- & Mid-Cap Growth Fund 0.74%MML Small Mid Cap Value Fund 0.91%MML Small Cap Growth Equity Fund 1.06%MML Small Company Value Fund 1.34%Oppenheimer Global Securities Fund 1.45%MML Focused Equity Fund 1.56%MML Mid Cap Growth Fund 1.85%MML Global Fund 2.05%Oppenheimer International Growth Fund 2.23%MML Mid Cap Value Fund 2.35%MML Income & Growth Fund 2.79%MML Large Cap Growth Fund 2.90%MML Foreign Fund 2.95%MML Fundamental Growth Fund 3.11%MML Fundamental Value Fund 4.07%MML Blue Chip Growth Fund 4.45%MML Equity Income Fund 5.07%



8.35% 7.67%5.94% 5.18%1.13 1.00

-0.03% 0.00%1.39 1.47

97.61% 100.00%36-months 36-months






Risk Reward

5% 5.2% 5.4% 5.6% 5.8%Annualized Standard Deviation

7.4%

7.6%

7.8%

8%

8.2%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Conservative Allocation Fund60% Barcap US Agg®, 30% R3000®, 10% MSCI ACWI X US®


15 of 78

MML Growth Allocation FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorNA



StrategyThe fund is a fund of funds and seeks toachieve its investment objective by investing ina combination of domestic and internationalmutual funds using an asset allocation strategy.The fund has an asset allocation strategy thatemphasizes the potential for growth withapproximately 75% of its assets invested inequity funds and 25% invested in fixed incomefunds, including money market funds.

Index*25% Barclays Capital US Aggregate (BarcapUS Agg®), 56.25% Russell 3000 (R3000®),18.75% MSCI AC World (MSCI ACWIX xUS)®






8/0711/07

2/085/08

8/0811/08

2/095/09

8/0911/09

2/105/10

8/1011/10

2/115/11

8/1111/11

2/125/12

8/1211/12

2/135/13

8/1311/13

$6,000

$7,000

$8,000

$9,000

$10,000

$11,000

$12,000

$13,000

$14,000

Growth of $10,000MML Growth Allocation Fund 25% Barcap US Agg®, 56.25% R3000®, 18.75% MSCI ACWI X US®



MML Growth Allocation Fund 6.69 22.64 22.64 11.82 15.81 --Barcap US Agg®, R3000®, MSCIACWI X US® 6.50 20.48 20.48 11.23 14.53 --

SinceInception

5.67

--

16 of 78

MML Growth Allocation FundData as of: 12/31/2013

Underlying Fund AllocationEquity 75.31%Oppenheimer Small- & Mid-Cap Growth Fund 1.65%MML Small Mid Cap Value Fund 1.77%MML Small Cap Growth Equity Fund 2.23%Oppenheimer Global Securities Fund 2.30%MML Small Company Value Fund 2.45%MML Strategic Emerging Markets Fund 2.92%MML Income & Growth Fund 3.37%MML Global Fund 3.53%Oppenheimer International Growth Fund 3.57%MML Foreign Fund 4.14%MML Focused Equity Fund 4.72%MML Mid Cap Growth Fund 4.83%MML Mid Cap Value Fund 4.84%MML Fundamental Value Fund 5.45%MML Fundamental Growth Fund 6.05%MML Large Cap Growth Fund 6.12%MML Equity Income Fund 6.51%MML Blue Chip Growth Fund 8.85%




11.82% 11.23%10.19% 9.71%

1.04 1.000.01% 0.00%1.15 1.15

98.59% 100.00%36-months 36-months






Risk Reward

9.6% 9.7% 9.8% 9.9% 10% 10.1% 10.2%Annualized Standard Deviation

11%

11.2%

11.4%

11.6%

11.8%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Growth Allocation Fund25% Barcap US Agg®, 56.25% R3000®, 18.75% MSCI ACWI X US®


17 of 78

MML Moderate Allocation FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorNA



StrategyThe fund is a fund of funds and seeks toachieve its investment objective by investing ina combination of domestic and internationalmutual funds using an asset allocation strategy.The fund has a moderate asset allocationstrategy with approximately 60% of its assetsinvested in equity funds and 40% invested infixed income funds, including money marketfunds.

Index*40% Barclays Capital US Aggregate (BarcapUS Agg®), 45% Russell 3000 (R3000®), 15%MSCI AC World (MSCI ACWIXUS)®






8/0711/07

2/085/08

8/0811/08

2/095/09

8/0911/09

2/105/10

8/1011/10

2/115/11

8/1111/11

2/125/12

8/1211/12

2/135/13

8/1311/13

$7,000

$8,000

$9,000

$10,000

$11,000

$12,000

$13,000

$14,000

Growth of $10,000MML Moderate Allocation Fund 40% Barcap US Agg®, 45% R3000®, 15% MSCI ACWI x US®



MML Moderate Allocation Fund 5.31 17.57 17.57 10.35 13.94 --Barcap US Agg®, R3000®, MSCIACWI x US® 5.15 15.66 15.66 9.74 12.64 --

SinceInception

5.74

--

18 of 78

MML Moderate Allocation FundData as of: 12/31/2013

Underlying Fund AllocationEquity 60.61%Oppenheimer Small- & Mid-Cap Growth Fund 1.30%MML Small Mid Cap Value Fund 1.43%MML Small Cap Growth Equity Fund 1.68%Oppenheimer Global Securities Fund 1.92%MML Small Company Value Fund 2.01%MML Strategic Emerging Markets Fund 2.01%MML Global Fund 2.91%Oppenheimer International Growth Fund 3.04%MML Focused Equity Fund 3.18%MML Mid Cap Growth Fund 3.52%MML Foreign Fund 3.58%MML Income & Growth Fund 3.66%MML Mid Cap Value Fund 3.75%MML Large Cap Growth Fund 4.43%MML Fundamental Value Fund 4.73%MML Fundamental Growth Fund 4.76%MML Equity Income Fund 5.69%MML Blue Chip Growth Fund 7.01%




10.35% 9.74%8.37% 7.72%1.08 1.00

-0.01% 0.00%1.23 1.25

98.56% 100.00%36-months 36-months






Risk Reward

7.5% 7.6% 7.7% 7.8% 7.9% 8% 8.1% 8.2% 8.3% 8.4%Annualized Standard Deviation

9.6%

9.8%

10%

10.2%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Moderate Allocation Fund40% Barcap US Agg®, 45% R3000®, 15% MSCI ACWI x US®


19 of 78

MML Inflation-Protected and Income FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorBabson Capital Management LLC

Portfolio ManagerRon Desautels, David Nagle, Doug TrevallionII

Fund ObjectiveSeeks to achieve as high a total rate of realreturn on an annual basis as is consideredconsistent with prudent investment risk and thepreservation of capital.

StrategyThe fund's subadviser, Babson Capital, seeks toconstruct a portfolio of inflation-indexed andother income-producing securities and otherfinancial instruments, including derivatives,designed to meet the real return objective of thefund. The fund generally intends to maintain adollar-weighted average credit quality of A orbetter.

Index*Barclays US Treasury Inflation Protected Notes(TIPS)®






8/0211/02

2/035/03

8/0311/03

2/045/04

8/0411/04

2/055/05

8/0511/05

2/065/06

8/0611/06

2/075/07

8/0711/07

2/085/08

8/0811/08

2/095/09

8/0911/09

2/105/10

8/1011/10

2/115/11

8/1111/11

2/125/12

8/1211/12

2/135/13

8/1311/13

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

Growth of $10,000MML Inflation-Protected and Income Fund Barclays US Treasury Inflation Protected Notes (TIPS)®


Fund Name / Index* QTD YTD 1 YR 3 YR 5 YR 10 YRMML Inflation-Protected andIncome Fund -2.10 -8.68 -8.68 3.47 5.59 3.93Barclays US Treasury InflationProtected Notes (TIPS)® -2.00 -8.61 -8.61 3.55 5.63 4.85

SinceInception

4.37

--

20 of 78

MML Inflation-Protected and Income FundData as of: 12/31/2013

Top 10 HoldingsBM1030089 IRS USD R V 03MLIBOR BV1030089CCPVAN... 11.37%Government Of The United States Of America 0.12... 9.74%Government Of The United States Of America 0.12... 8.92%Government Of The United States Of America 0.12... 8.92%Government Of The United States Of America 0.12... 7.93%Government Of The United States Of America 0.12... 6.79%Government Of The United States Of America 0.12... 6.42%SM1030055 IRS USD R F 3.01125 BM1030055CCPVAN... 6.30%Government Of The United States Of America 0.62... 6.14%Government Of The United States Of America 1.12... 6.11%Total 78.63%

Sector WeightsFund Index*

TIPS 101.45% 100.00%CORPORATE INFL-PROTSECURITIES 0.57% 0.00%ABS 28.90% 0.00%CORPORATES 1.45% 0.00%MBS/CMBS 6.29% 0.00%CASH & EQUIV 52.22% 0.00%REVERSE REPURCHASES -90.87% 0.00%



Credit Quality BreakdownGovernment & Agency 0.00% 0.00%AAA 9.64% 0.00%AA 113.11% 100.00%A 4.88% 0.00%BBB 3.37% 0.00%BB 0.42% 0.00%B 0.05% 0.00%CCC and Below 0.00% 0.00%Cash and Equivalents -38.66% 0.00%Not Rated 7.18% 0.00%



3.47% 3.55%5.31% 5.36%0.99 1.00

-0.00% 0.00%0.64 0.65

99.46% 100.00%36-months 36-months

Risk Reward

5.31% 5.32% 5.33% 5.34% 5.35% 5.36% 5.37%Annualized Standard Deviation

-5%-4%-3%-2%-1%0%1%2%3%4%5%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Inflation-Protected and Income FundBarclays US Treasury Inflation Protected Notes (TIPS)®

Disclosures• Performance numbers for periods that pre-date the contract's availability are hypothetical and are calculated based on the date shown, whichwas the date the fund was originally made available to the Separate Account.* Market Indices have been provided for informational purposes only; they are unmanaged and reflect no fees or expenses of the product.Individuals cannot invest directly in an index.• Percentages are based on dollar-weighted values of invested assets. Holdings are subject to change.

21 of 78

MML Managed Bond FundData as of: 12/31/2013

AdvisorMassMutual


Portfolio ManagerWilliam Awad, David Nagle, Doug Trevallion,II, Charles Sanford

Fund ObjectiveSeeks to achieve as high a rate of total returnon an annual basis as is considered consistentwith the preservation of capital.

StrategyThe fund's subadviser, Babson Capital, selectsthe funds investments based on its analysis ofyield opportunities and risks of varioussecurities and market sectors. The managerintends for the fund's portfolio dollar-weightedaverage duration generally to match (within10%) the average duration of the Barclay'sCapital U.S. Aggregate Bond Index.

Index*Barclays US Aggregate®






6/019/01

12/013/02

6/029/02

12/023/03

6/039/03

12/033/04

6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

Growth of $10,000MML Managed Bond Fund Barclays US Aggregate®



MML Managed Bond Fund 0.01 -1.64 -1.64 3.74 5.65 4.86

Barclays US Aggregate® -0.14 -2.02 -2.02 3.26 4.44 4.55

SinceInception

7.89

--

22 of 78

MML Managed Bond FundData as of: 12/31/2013

Top 10 HoldingsBM1030618 IRS USD R V 03MLIBOR BV1030618CCPVAN... 13.95%SM1029933 IRS USD R F 3.01125 BM1029933CCPVAN... 7.73%Government Of The United States Of America 0.87... 7.71%2Y T-Note (CBT) Mar 14 7.20%FNMA TBA 3PCT JAN 30 SINGLE FA 5.29%FNCL 4 1/14 3.38%Government Of The United States Of America 2.5%... 2.72%GOVERNMENT NATL MTG ASSN 2.45%FNCI 2.5 1/14 1.76%GNMA I TBA JAN 30 SINGLE FAM 1.76%Total 53.95%

Sector WeightsFund Index*

ABS 4.68% 0.48%AGENCIES 0.00% 3.81%CMBS 5.29% 1.72%CONVERTIBLES 0.74% 0.00%CORPORATES 46.08% 28.62%MBS/CMO 28.86% 29.68%TREASURIES 13.73% 35.69%CASH & EQUIV 0.61% 0.00%






3.74% 3.26%2.75% 2.71%0.98 1.00

0.04% 0.00%1.33 1.18

93.38% 100.00%36-months 36-months

Risk Reward

-5% -4% -3% -2% -1% 0% 1% 2% 3% 4% 5%Annualized Standard Deviation

-5%-4%

-3%

-2%-1%

0%

1%2%

3%

4%

5%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Managed Bond Fund Barclays US Aggregate®


23 of 78

MML Money Market FundData as of: 12/31/2013

AdvisorMassMutual


Portfolio ManagerScott Riecke, Scott Simler

Fund ObjectiveSeeks to achieve the preservation of capital,liquidity and high current income.

StrategyThe fund's subadviser, Babson Capital, investsin high quality debt instruments that have aremaining maturity not exceeding 397 days,including commercial paper and othercorporate obligations, securities issued orguaranteed by the U.S. Government or itsagencies or instrumentalities, and certificates ofdeposit and bankers acceptances. The fund mayenter into repurchase transactions and forwardcommitments.

Index*Barclays US Treasury - Bills (1-3 M)®






7-Day Yield0.00%

6/019/01

12/013/02

6/029/02

12/023/03

6/039/03

12/033/04

6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$10,000

$10,500

$11,000

$11,500

$12,000

Growth of $10,000MML Money Market Fund Barclays US Treasury - Bills (1-3 M)®



MML Money Market Fund 0.00 0.00 0.00 0.00 0.01 1.47Barclays US Treasury - Bills (1-3M)® 0.01 0.05 0.05 0.06 0.09 1.59

SinceInception

4.47

--

• An investment in the Fund is neither insured nor guaranteed by the Federal DepositInsurance Corporation or any other government agency. Although the Fund seeks tomaintain a stable net asset value per share, it is possible to lose money by investing inthese funds.• The yield quotation more closely reflects the current earnings of the Fund than the total returnquotation. It is an annualized rate based on results over the last seven days of the period.

24 of 78

[This page intentionally left blank]

25 of 78

Oppenheimer Global Strategic Income Fund/VAData as of: 12/31/2013

AdvisorOppenheimerFunds, Inc.

Sub-AdvisorNA

Portfolio ManagerArthur Steinmetz, Krishna Memani, Dr. SaraZervos, Jack Brown

Fund ObjectiveSeeks total return.

StrategyThe fund's adviser, Oppenheimer, invests indebt securities of three market sectors: U.S.Government securities, foreign governmentsand companies and high yield securities of theU.S. and foreign companies. The managerfocuses on securities with high current incomeand evaluates market price movement andrelative values among the three sectors to seekoverall portfolio diversification.

Index*Barclays US Aggregate®






6/019/01

12/013/02

6/029/02

12/023/03

6/039/03

12/033/04

6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

$22,000

$24,000

Growth of $10,000Oppenheimer Global Strategic Income Fund/VA Barclays US Aggregate®


Fund Name / Index* QTD YTD 1 YR 3 YR 5 YR 10 YROppenheimer Global StrategicIncome Fund 1.32 -0.13 -0.13 4.57 9.33 5.83

Barclays US Aggregate® -0.14 -2.02 -2.02 3.26 4.44 4.55

SinceInception

6.38

--

26 of 78

Oppenheimer Global Strategic Income Fund/VAData as of: 12/31/2013

Top 10 HoldingsGovernment Of Indonesia 8.375% 15-mar-2024 31.10%Government Of Indonesia 9.0% 15-mar-2029 21.50%Government Of Indonesia 8.375% 15-mar-2034 11.60%Government Of Indonesia 7.0% 15-may-2022 4.81%Government Of Colombia 7.0% 04-may-2022 4.56%CITIGROUP FUNDING INC. 4.45%Government Of Indonesia 8.25% 15-jul-2021 3.58%HUNGARY T-BILLS 2.09%Empresas Publicas De Medellin Esp 8.375% 01-feb... 1.97%CITI COLTES TRS 1.62%Total 87.27%

Region WeightsFund

AMERICAS 69.61%EUROPE 17.57%ASIA PACIFIC 3.75%MIDDLE EAST 3.40%AFRICA 2.13%

Asset AllocationFund

Investment Grade 39.20%International Markets 15.71%High Yield 42.80%Cash/Other 2.29%


Weighted AverageCoupon -- --Maturity (life) -- 7.00Duration 3.96 5.36




4.57% 3.26%5.71% 2.71%0.72 1.00

0.19% 0.00%0.79 1.18

11.67% 100.00%36-months 36-months

Risk Reward

2% 2.5% 3% 3.5% 4% 4.5% 5% 5.5%Annualized Standard Deviation

-5%-4%-3%-2%-1%0%1%2%3%4%5%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

Oppenheimer Global Strategic Income Fund/VABarclays US Aggregate®

Disclosures• Performance numbers for periods that pre-date the contract's availability are hypothetical and are calculated based on the date shown, whichwas the date the fund was originally made available to the Separate Account.* Market Indices have been provided for informational purposes only; they are unmanaged and reflect no fees or expenses of the product.Individuals cannot invest directly in an index.• Percentages are based on dollar-weighted values of invested assets. Holdings are subject to change.• Investments in below investment grade debt securities are generally subject to greater market fluctuations and risk of loss of income andprincipal than are investments in investment grade debt securities.• There are special risks associated with international investing such as differences in accounting practices, political changes, and currencyfluctuations. These risks are heightened in emerging markets.

27 of 78

Fidelity VIP Contrafund PortfolioData as of: 12/31/2013

AdvisorFidelity Management & Research Company

Sub-AdvisorFMR Co., Inc.

Portfolio ManagerRobert Stansky

Fund ObjectiveSeeks long-term capital appreciation.

StrategyThe fund's adviser, Fidelity, seeks companieswhose value is not fully recognized. Thesecompanies may exhibit a positive fundamentalchange, an increase in earnings potential,market popularity that may have temporarilyfallen out of favor and are undervalued relativeto securities of other companies. Fidelity tendsto purchase a combination of both growth andvalue stocks.

Index*S&P 500®






6/019/01

12/013/02

6/029/02

12/023/03

6/039/03

12/033/04

6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$5,000

$10,000

$15,000

$20,000

$25,000

Growth of $10,000Fidelity VIP Contrafund Portfolio S&P 500 - Total Return®


Fund Name / Index* QTD YTD 1 YR 3 YR 5 YR 10 YRFidelity® VIP Contrafund®Portfolio 10.13 31.29 31.29 14.21 18.84 9.23

S&P 500 - Total Return® 10.51 32.39 32.39 16.18 17.94 7.41

SinceInception

11.44

--

28 of 78

Fidelity VIP Contrafund PortfolioData as of: 12/31/2013


Annualized Return

Standard Deviation

Beta

Alpha

Sharpe Ratio

R-Squared

# Observations

14.21% 16.18%

12.71% 11.94%

1.05 1.00

-0.21% 0.00%

1.11 1.35

97.92% 100.00%

36-months 36-months

Risk Reward

11.8% 12% 12.2% 12.4% 12.6%Annualized Standard Deviation

14.5%

15%

15.5%

16%

16.5%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

Fidelity VIP Contrafund Portfolio S&P 500 - Total Return®

Disclosures• Performance numbers for periods that pre-date the contract's availability are hypothetical and are calculated based on the date shown, whichwas the date the fund was originally made available to the Separate Account.* Market Indices have been provided for informational purposes only; they are unmanaged and reflect no fees or expenses of the product.Individuals cannot invest directly in an index.• Percentages are based on dollar-weighted values of invested assets. Holdings are subject to change.• There are special risks associated with international investing such as differences in accounting practices, political changes, and currencyfluctuations. These risks are heightened in emerging markets.• Fidelity, Fidelity Investments & Pyramid Design and Contrafund are registered service marks of FMR Corporation.

29 of 78

ING Clarion Global Real Estate PortfolioData as of: 12/31/2013

AdvisorING Investments, LLC

Sub-AdvisorING Clarion Real Estate Securities L.P.

Portfolio ManagerT. Ritson Ferguson, Steven Burton, JosephSmith

Fund ObjectiveSeeks high total return consisting of capitalappreciation and current income.

StrategyThe portfolio is non-diversified, investing incompanies engaged in the real estate industry.The subadviser uses a multi-step investmentprocess for portfolio construction that combinestop-down region and sector allocation withbottom-up individual stock selection.Evaluation of public and private propertytrends & conditions supports the top-downanalysis while bottom-up analysis begins withthe analysis of value & property, capitalstructure and management & strategy.

Index*S&P Developed Property - Net Return®






1/064/06

7/0610/06

1/074/07

7/0710/07

1/084/08

7/0810/08

1/094/09

7/0910/09

1/104/10

7/1010/10

1/114/11

7/1110/11

1/124/12

7/1210/12

1/134/13

7/1310/13

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

Growth of $10,000ING Clarion Global Real Estate Portfolio S&P Developed Property - Net Return®


Fund Name / Index* QTD YTD 1 YR 3 YR 5 YR 10 YRING Clarion Global Real EstatePortfolio 0.65 3.71 3.71 7.26 13.81 --S&P Developed Property - NetReturn® -0.37 5.01 5.01 7.93 15.60 --

SinceInception

4.58

--

30 of 78

ING Clarion Global Real Estate PortfolioData as of: 12/31/2013


Annualized Return

Standard Deviation

Beta

Alpha

Sharpe Ratio

R-Squared

# Observations

7.26% 7.93%

16.16% 16.04%

1.00 1.00

-0.05% 0.00%

0.45 0.49

98.60% 100.00%

36-months 36-months

Risk Reward


7.3%7.4%7.5%7.6%7.7%7.8%7.9%

8%8.1%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

ING Clarion Global Real Estate PortfolioS&P Developed Property - Net Return®

Disclosures• Performance numbers for periods that pre-date the contract's availability are hypothetical and are calculated based on the date shown, whichwas the date the fund was originally made available to the Separate Account.* Market Indices have been provided for informational purposes only; they are unmanaged and reflect no fees or expenses of the product.Individuals cannot invest directly in an index.• Percentages are based on dollar-weighted values of invested assets. Holdings are subject to change.• There are special risks associated with international investing such as differences in accounting practices, political changes, and currencyfluctuations. These risks are heightened in emerging markets.• Investments in companies with small market capitalizations (small caps) may be subject to greater price volatility than investments incompanies with larger capitalizations because small caps are generally subject to special risks such as narrower markets, less financial resourcesand less liquid stocks.• This fund may experience greater short-term price volatility due to concentration and non-diversification. It is most suitable for use in theaggressive component of an investment portfolio.• Performance reflects share classes with 12(b)-1 fees from inception which reduces the funds performance.

31 of 78

Invesco V.I. Diversified Dividend FundData as of: 12/31/2013

AdvisorInvesco Advisers, Inc.

Sub-AdvisorNA

Portfolio ManagerMeggan Walsh, Jonathan Harrington

Fund ObjectiveSeeks to provide reasonable current income andlong-term growth of income and capital.

StrategyThe fund's adviser, Invesco, seeks to build aportfolio of attractively valued companies thatpay dividends sustained by strong capitalstructures, which provide the opportunity tooutperform over the long term.

Index*S&P 500®






6/019/01

12/013/02

6/029/02

12/023/03

6/039/03

12/033/04

6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

Growth of $10,000Invesco V.I. Diversified Dividend Fund S&P 500 - Total Return®


Fund Name / Index* QTD YTD 1 YR 3 YR 5 YR 10 YRInvesco V.I. Diversified DividendFund 9.30 31.04 31.04 15.95 16.44 6.09

S&P 500 - Total Return® 10.51 32.39 32.39 16.18 17.94 7.41

SinceInception

8.01

--

32 of 78

Invesco V.I. Diversified Dividend FundData as of: 12/31/2013


Annualized Return

Standard Deviation

Beta

Alpha

Sharpe Ratio

R-Squared

# Observations

15.95% 16.18%

11.23% 11.94%

0.91 1.00

0.10% 0.00%

1.41 1.35

92.84% 100.00%

36-months 36-months

Risk Reward


15.95%

16%

16.05%

16.1%

16.15%

16.2%

16.25%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

Invesco V.I. Diversified Dividend FundS&P 500 - Total Return®

Disclosures• Performance numbers for periods that pre-date the contract's availability are hypothetical and are calculated based on the date shown, whichwas the date the fund was originally made available to the Separate Account.* Market Indices have been provided for informational purposes only; they are unmanaged and reflect no fees or expenses of the product.Individuals cannot invest directly in an index.• Percentages are based on dollar-weighted values of invested assets. Holdings are subject to change.• Effective April 29, 2011, Invesco V.I. Financial Services Fund merged into Invesco V.I. Dividend Growth Fund. Performance prior to thatday reflects performance of the Invesco V.I. Financial Services Fund and performance on and after that date reflects performance of the InvescoV.I. Dividend Growth Fund. Performance prior to that day reflects performance of the Invesco V.I. Financial Services Fund and performance onand after that date reflects performance of the Invesco V.I. Dividend Growth Fund.• Invesco AimSM is a service mark of Invesco Aim Management Group, Inc. Invesco Aim Advisors, Inc. is one of the investment advisors forthe products and services represented by Invesco Aim.

33 of 78

Invesco V.I. Global Health Care FundData as of: 12/31/2013


Sub-AdvisorNA

Portfolio ManagerDerek Taner

Fund ObjectiveSeeks long-term growth of capital.

StrategyThe fund is non-diversified, investing insecurities of health care industry companies.The funds adviser, Invesco, seeks health carecompanies that exhibit above-average earningsgrowth, high return on invested capital, healthybalance sheet, strong competitive advantages,research & product development of newtechnologies, efficient services, flexible pricingand strong management.

Index*MSCI World Provisional®






6/019/01

12/013/02

6/029/02

12/023/03

6/039/03

12/033/04

6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

$22,000

$24,000

Growth of $10,000Invesco V.I. Global Health Care Fund MSCI The World Index - Health Care - Net Return®


Fund Name / Index* QTD YTD 1 YR 3 YR 5 YR 10 YRInvesco V.I. Global Health CareFund 9.48 40.54 40.54 20.88 18.88 8.78MSCI The World Index - HealthCare - Net Return® 8.92 36.27 36.27 20.58 16.37 --

SinceInception

9.06

--

34 of 78

Invesco V.I. Global Health Care FundData as of: 12/31/2013


Annualized Return

Standard Deviation

Beta

Alpha

Sharpe Ratio

R-Squared

# Observations

20.88% 20.58%

12.43% 10.74%

1.07 1.00

-0.07% 0.00%

1.67 1.91

84.60% 100.00%

36-months 36-months

Risk Reward

10.5% 11% 11.5% 12% 12.5%Annualized Standard Deviation

20.5%

20.55%

20.6%

20.65%

20.7%

20.75%

20.8%

20.85%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

Invesco V.I. Global Health Care FundMSCI The World Index - Health Care - Net Return®

Disclosures• Performance numbers for periods that pre-date the contract's availability are hypothetical and are calculated based on the date shown, whichwas the date the fund was originally made available to the Separate Account.* Market Indices have been provided for informational purposes only; they are unmanaged and reflect no fees or expenses of the product.Individuals cannot invest directly in an index.• Percentages are based on dollar-weighted values of invested assets. Holdings are subject to change.• There are special risks associated with international investing such as differences in accounting practices, political changes, and currencyfluctuations. These risks are heightened in emerging markets.• This fund may experience greater short-term price volatility due to concentration and non-diversification. It is most suitable for use in theaggressive component of an investment portfolio.• Invesco AimSM is a service mark of Invesco Aim Management Group, Inc. Invesco Aim Advisors, Inc. is one of the investment advisors forthe products and services represented by Invesco Aim.

35 of 78

Invesco V.I. Technology FundData as of: 12/31/2013


Sub-AdvisorNA

Portfolio ManagerWarren Tennant, Brian Nelson

Fund ObjectiveSeeks long-term growth of capital.

StrategyThe fund is non-diversified, investing intechnology-related industries. The fundsadviser, Invesco, uses a combination ofquantitative, fundamental and valuationanalysis focusing on attractively valued, well-managed companies that can deliver attractivereturns.

Index*S&P North American Technology SectorIndex®






6/019/01

12/013/02

6/029/02

12/023/03

6/039/03

12/033/04

6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$4,000

$5,000

$6,000

$7,000

$8,000

$9,000

$10,000

$11,000

Growth of $10,000Invesco V.I. Technology Fund S&P North American Technology Sector Index®



Invesco V.I. Technology Fund 8.92 25.14 25.14 9.76 20.35 5.95S&P North American TechnologySector Index® -- -- -- -- -- --

SinceInception

4.66

--

36 of 78

Invesco V.I. Technology FundData as of: 12/31/2013


Annualized Return

Standard Deviation

Beta

Alpha

Sharpe Ratio

R-Squared

# Observations

9.76% --

16.71% --

-- --

-- --

0.58 --

-- --

36-months --

Risk Reward

15.5% 16% 16.5% 17% 17.5% 18%Annualized Standard Deviation

8.8%9%

9.2%9.4%9.6%9.8%10%

10.2%10.4%10.6%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

Invesco V.I. Technology FundS&P North American Technology Sector Index®

Disclosures• Performance numbers for periods that pre-date the contract's availability are hypothetical and are calculated based on the date shown, whichwas the date the fund was originally made available to the Separate Account.* Market Indices have been provided for informational purposes only; they are unmanaged and reflect no fees or expenses of the product.Individuals cannot invest directly in an index.• Percentages are based on dollar-weighted values of invested assets. Holdings are subject to change.• There are special risks associated with international investing such as differences in accounting practices, political changes, and currencyfluctuations. These risks are heightened in emerging markets.• Investments in companies with small market capitalizations (small caps) may be subject to greater price volatility than investments incompanies with larger capitalizations because small caps are generally subject to special risks such as narrower markets, less financial resourcesand less liquid stocks.• This fund may experience greater short-term price volatility due to concentration and non-diversification. It is most suitable for use in theaggressive component of an investment portfolio.• Invesco AimSM is a service mark of Invesco Aim Management Group, Inc. Invesco Aim Advisors, Inc. is one of the investment advisors forthe products and services represented by Invesco Aim.

37 of 78

MML Blue Chip Growth FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorT. Rowe Price Associates, Inc.

Portfolio ManagerLarry Puglia

Fund ObjectiveSeeks long-term capital growth. Income is asecondary objective.

StrategyThe fund's subadviser, T. Rowe Price, seeks toidentify companies with a leading marketposition, seasoned management and strongfinancial fundamentals. T. Rowe Price believesthat solid company fundamentals (with anemphasis on strong growth in earnings pershare or operating cash flow) combined with apositive industry outlook may potentiallyreward investors with strong investmentperformance. It is anticipated that some of thecompanies targeted will have good prospectsfor dividend growth.

Index*Russell 1000 Growth®






5/068/06

11/062/07

5/078/07

11/072/08

5/088/08

11/082/09

5/098/09

11/092/10

5/108/10

11/102/11

5/118/11

11/112/12

5/128/12

11/122/13

5/138/13

11/13

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

Growth of $10,000MML Blue Chip Growth Fund Russell 1000 Growth - Total Return®



MML Blue Chip Growth Fund 12.74 41.33 41.33 19.23 22.90 --Russell 1000 Growth - TotalReturn® 10.44 33.48 33.48 16.45 20.39 --

SinceInception

8.93

--

38 of 78

MML Blue Chip Growth FundData as of: 12/31/2013

Top 10 HoldingsGoogle Inc. Class A 5.83%Amazon.com, Inc. 5.25%MasterCard Incorporated Class A 3.41%priceline.com Incorporated 3.29%Gilead Sciences, Inc. 3.20%Danaher Corporation 2.77%Precision Castparts Corp. 2.17%McKesson Corporation 2.17%Visa Inc. Class A 2.14%Biogen Idec Inc. 2.06%Total 32.30%

Sector Weights

.00%

5.00

%

10.0

0%

15.0

0%

20.0

0%

25.0

0%

30.0

0%

ConsumerDiscretionary

ConsumerStaples

Energy

Financials

HealthCare

Industrials

InformationTechnology

Materials

TelecommunicationServices

Utilities

Cash

MML Blue Chip Growth Fund Russell 1000 Growth


Market Capitalization $82,311 $97,522Price to Earnings 28.76 21.25Price to Book 5.16 4.86EPS 7.23 6.39Dividend Yield 0.63% 1.47%Hist 3Yr EPS Growth 25.08 20.56# of Securities 143 625



19.23% 16.45%14.09% 12.18%

1.13 1.000.04% 0.00%1.36 1.35

95.58% 100.00%36-months 36-months

Risk Reward

11.5% 12% 12.5% 13% 13.5% 14%Annualized Standard Deviation

15.5%

16%

16.5%

17%

17.5%

18%

18.5%

19%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Blue Chip Growth FundRussell 1000 Growth - Total Return®

Disclosures• Performance numbers for periods that pre-date the contract's availability are hypothetical and are calculated based on the date shown, whichwas the date the fund was originally made available to the Separate Account.* Market Indices have been provided for informational purposes only; they are unmanaged and reflect no fees or expenses of the product.Individuals cannot invest directly in an index.• Percentages are based on dollar-weighted values of invested assets. Holdings are subject to change.• T. Rowe Price, Invest With Confidence, the Big Horn Sheep and the logo they compose are trademarks or registered trademarks of T. RowePrice Group, Inc. in the U.S. and other countries.

39 of 78

MML Equity FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorOppenheimerFunds, Inc. and Loomis, Sayles &Company, L.P.

Portfolio ManagerOppenheimer: Laton Spahr Loomis Sayles:Warren Koontz, Jr., Arthur Barry

Fund ObjectiveSeeks to achieve a superior total rate of returnover an extended period of time from bothcapital appreciation and current income.

StrategyThe fund is managed by two subadvisers,OppenheimerFunds and Loomis Sayles. Eachsubadviser employs a bottom-up, value-basedinvestment approach in selecting securities forthe Fund. Oppenheimer seeks out companiesbased on factors such as supply/demand,product cycles, quality of management,competitive position, cash reinvestment plans,and better-than-expected earnings reports andattractive valuations. Loomis Sayles looks forattractively valued companies based on itsestimate of intrinsic value.

Index*Russell 1000 Value®






6/019/01

12/013/02

6/029/02

12/023/03

6/039/03

12/033/04

6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

$22,000

Growth of $10,000MML Equity Fund Russell 1000 Value - Total Return®



MML Equity Fund 9.88 33.27 33.27 14.18 17.43 6.70Russell 1000 Value - TotalReturn® 10.01 32.53 32.53 16.06 16.67 7.58

SinceInception

10.40

--

40 of 78

MML Equity FundData as of: 12/31/2013

Top 10 HoldingsGeneral Electric Company 2.72%Citigroup Inc. 2.67%Apple Inc. 1.75%Sanofi Sponsored ADR 1.66%Eaton Corp. Plc 1.64%MetLife, Inc. 1.56%JPMorgan Chase & Co. 1.50%American International Group, Inc. 1.50%Merck & Co., Inc. 1.47%UnitedHealth Group Incorporated 1.35%Total 17.83%

Sector Weights

.00%

5.00

%

10.0

0%

15.0

0%

20.0

0%

25.0

0%

30.0

0%

35.0

0%


ConsumerStaples

Energy

Financials

HealthCare

Industrials


Materials


Utilities

MML Equity Fund Russell 1000 Value





14.18% 16.06%13.15% 12.70%

1.02 1.00-0.16% 0.00%

1.07 1.2697.81% 100.00%

36-months 36-months

Risk Reward


14.5%

15%

15.5%

16%

16.5%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Equity Fund Russell 1000 Value - Total Return®

Disclosures• Performance numbers for periods that pre-date the contract's availability are hypothetical and are calculated based on the date shown, whichwas the date the fund was originally made available to the Separate Account.* Market Indices have been provided for informational purposes only; they are unmanaged and reflect no fees or expenses of the product.Individuals cannot invest directly in an index.• Percentages are based on dollar-weighted values of invested assets. Holdings are subject to change.• Although the MML Equity Fund commenced operations on September 15, 1971, the information necessary to calculate returns is availableonly for 1974 and later years.

41 of 78

MML Equity Income FundData as of: 12/31/2013

AdvisorMassMutual


Portfolio ManagerBrian Rogers

Fund ObjectiveSeeks dividend income and long-term capitalgrowth.

StrategyThe fund's subadviser, T. Rowe Price, employsa value approach in selecting investments thatmay be temporarily out of favor but have goodprospects for capital appreciation and dividendgrowth. T. Rowe Price generally looks forcompanies with one or more of the following:an established operating history, above-averagedividend yield, low price/earnings, and a soundbalance sheet.







5/068/06

11/062/07

5/078/07

11/072/08

5/088/08

11/082/09

5/098/09

11/092/10

5/108/10

11/102/11

5/118/11

11/112/12

5/128/12

11/122/13

5/138/13

11/13

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

Growth of $10,000MML Equity Income Fund Russell 1000 Value - Total Return®



MML Equity Income Fund 8.72 29.93 29.93 14.78 16.83 --Russell 1000 Value - TotalReturn® 10.01 32.53 32.53 16.06 16.67 --

SinceInception

6.31

--

42 of 78

MML Equity Income FundData as of: 12/31/2013

Top 10 HoldingsGeneral Electric Company 2.97%JPMorgan Chase & Co. 2.68%Chevron Corporation 2.27%Wells Fargo & Company 2.05%Exxon Mobil Corporation 1.91%Apache Corporation 1.75%U.S. Bancorp 1.68%Bank of America Corporation 1.54%Johnson & Johnson 1.44%Illinois Tool Works Inc. 1.42%Total 19.73%

Sector Weights

.00%

5.00

%

10.0

0%

15.0

0%

20.0

0%

25.0

0%

30.0

0%

35.0

0%


ConsumerStaples

Energy

Financials

HealthCare

Industrials


Materials


Utilities

Cash

MML Equity Income Fund Russell 1000 Value





14.78% 16.06%11.89% 12.70%

0.93 1.00-0.01% 0.00%

1.24 1.2698.95% 100.00%

36-months 36-months

Risk Reward

12% 12.2% 12.4% 12.6% 12.8% 13%Annualized Standard Deviation

14.8%

15%15.2%

15.4%15.6%

15.8%16%

16.2%16.4%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Equity Income FundRussell 1000 Value - Total Return®


43 of 78

MML Equity Index FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorNorthern Trust Investments, N.A.

Portfolio ManagerBrent Reeder

Fund ObjectiveSeeks investment results that correspond to theprice and yield performance of publicly tradedcommon stocks in the aggregate, as representedby the S&P 500 Index.

StrategyThe fund's subadviser, Northern Trust, attemptsto maximize the fund's liquidity and returnswhile minimzing its costs.

Index*S&P 500®






6/019/01

12/013/02

6/029/02

12/023/03

6/039/03

12/033/04

6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

Growth of $10,000MML Equity Index Fund S&P 500 - Total Return®



MML Equity Index Fund 10.43 32.02 32.02 15.87 17.66 7.15

S&P 500 - Total Return® 10.51 32.39 32.39 16.18 17.94 7.41

SinceInception

6.78

--

44 of 78

MML Equity Index FundData as of: 12/31/2013

Top 10 HoldingsApple Inc. 2.91%eMini S&P 500 (CME) Mar 14 2.55%Exxon Mobil Corporation 2.55%Google Inc. Class A 1.81%Microsoft Corporation 1.64%General Electric Company 1.63%Johnson & Johnson 1.49%Chevron Corporation 1.38%The Procter & Gamble Company 1.28%JPMorgan Chase & Co. 1.27%Total 18.50%

Sector Weights

.00%

2.00

%

4.00

%

6.00

%

8.00

%

10.0

0%

12.0

0%

14.0

0%

16.0

0%

18.0

0%

20.0

0%


ConsumerStaples

Energy

Financials

HealthCare

Industrials


Materials


Utilities

MML Equity Index Fund S&P 500





15.87% 16.18%11.93% 11.94%

1.00 1.00-0.02% 0.00%

1.32 1.35100.00% 100.00%

36-months 36-months

Risk Reward

11.93% 11.932% 11.934% 11.936% 11.938%Annualized Standard Deviation

15.85%

15.9%

15.95%

16%

16.05%

16.1%

16.15%

16.2%

16.25%

16.3%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Equity Index Fund S&P 500 - Total Return®

Disclosures• Performance numbers for periods that pre-date the contract's availability are hypothetical and are calculated based on the date shown, whichwas the date the fund was originally made available to the Separate Account.* Market Indices have been provided for informational purposes only; they are unmanaged and reflect no fees or expenses of the product.Individuals cannot invest directly in an index.• Percentages are based on dollar-weighted values of invested assets. Holdings are subject to change.• The fund established a new class of shares, which is available with this policy, after it began its initial investment operations. The performancefor the period prior to May 1, 2000 shows the historical returns for Class I shares. Performance for periods after May 1, 2000 shows thehistorical returns for the share class available with this policy and reflects the fees and expenses of that share class.

45 of 78

MML Growth & Income FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorMassachusetts Financial Services Company

Portfolio ManagerKevin Beatty, Nicole Zatlyn

Fund ObjectiveSeeks capital appreciation and income.

StrategyThe fund's subadviser, MFS, selectsinvestments without being constrained to anyparticular investment style. MFS may invest thefunds assets in the stocks of companies itbelieves to have above average earnings growthpotential compared to other companies (growthcompanies), in the stocks of companies itbelieves are undervalued compared to theirperceived worth (value companies), or in acombination of growth and value companies.MFS may consider the portfolios overallprospects for income as well as appreciation inmanaging the Fund.

Index*S&P 500®






5/068/06

11/062/07

5/078/07

11/072/08

5/088/08

11/082/09

5/098/09

11/092/10

5/108/10

11/102/11

5/118/11

11/112/12

5/128/12

11/122/13

5/138/13

11/13

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

Growth of $10,000MML Growth & Income Fund S&P 500 - Total Return®



MML Growth & Income Fund 10.42 32.53 32.53 15.84 17.21 --

S&P 500 - Total Return® 10.51 32.39 32.39 16.18 17.94 --

SinceInception

4.27

--

46 of 78

MML Growth & Income FundData as of: 12/31/2013

Top 10 HoldingsJPMorgan Chase & Co. 3.14%Google Inc. Class A 3.01%Danaher Corporation 2.81%Pfizer Inc. 2.31%Visa Inc. Class A 2.22%The Procter & Gamble Company 2.11%Johnson & Johnson 2.07%The Walt Disney Company 2.05%Exxon Mobil Corporation 2.02%EMC Corporation 1.97%Total 23.71%

Sector Weights

.00%

5.00

%

10.0

0%

15.0

0%

20.0

0%

25.0

0%


ConsumerStaples

Energy

Financials

HealthCare

Industrials


Materials


Utilities

Cash

MML Growth & Income Fund S&P 500





15.84% 16.18%13.29% 11.94%

1.10 1.00-0.14% 0.00%

1.19 1.3597.30% 100.00%

36-months 36-months

Risk Reward

11.6% 12% 12.4% 12.8% 13.2%Annualized Standard Deviation

15.85%

15.9%

15.95%

16%

16.05%

16.1%

16.15%

16.2%

16.25%

16.3%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Growth & Income Fund S&P 500 - Total Return®


47 of 78

MML Income & Growth FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorBlackRock Investment Management, LLC

Portfolio ManagerRobert Shearer, Kathleen Anderson, DavidCassese

Fund ObjectiveSeeks growth of capital with income as asecondary objective.

StrategyThe fund's subadviser, BlackRock, investsprimarily in investments in dividend payingcompanies that the fund's management believeswill increase in value over the long term andprovide current income.







5/068/06

11/062/07

5/078/07

11/072/08

5/088/08

11/082/09

5/098/09

11/092/10

5/108/10

11/102/11

5/118/11

11/112/12

5/128/12

11/122/13

5/138/13

11/13

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

Growth of $10,000MML Income & Growth Fund Russell 1000 Value - Total Return®



MML Income & Growth Fund 9.64 24.62 24.62 13.79 14.21 --Russell 1000 Value - TotalReturn® 10.01 32.53 32.53 16.06 16.67 --

SinceInception

4.53

--

48 of 78

MML Income & Growth FundData as of: 12/31/2013

Top 10 HoldingsJPMorgan Chase & Co. 3.32%Wells Fargo & Company 3.21%General Electric Company 3.14%Chevron Corporation 3.00%Comcast Corporation Class A Special 2.55%The Home Depot, Inc. 2.38%Pfizer Inc. 2.30%Exxon Mobil Corporation 2.15%Prudential Financial, Inc. 1.98%Merck & Co., Inc. 1.91%Total 25.95%

Sector Weights

.00%

5.00

%

10.0

0%

15.0

0%

20.0

0%

25.0

0%

30.0

0%

35.0

0%


ConsumerStaples

Energy

Financials

HealthCare

Industrials


Materials


Utilities

MML Income & Growth Fund Russell 1000 Value





13.79% 16.06%10.36% 12.70%

0.79 1.000.08% 0.00%1.33 1.26

94.89% 100.00%36-months 36-months

Risk Reward

10.5% 11% 11.5% 12% 12.5% 13% 13.5%Annualized Standard Deviation

14%

14.5%

15%

15.5%

16%

16.5%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Income & Growth FundRussell 1000 Value - Total Return®


49 of 78

MML Managed Volatility FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorGateway Investment Advisers, LLC

Portfolio ManagerPaul Stewart, Michael Buckius, Kenneth Toft

Fund ObjectiveSeeks to capture the majority of the returnsassociated with equity market investments,while exposing investors to less risk than otherequity investments.

StrategyThe fund's subadviser, Gateway, invests in abroadly diversified portfolio of common stocks,while also selling index call options andpurchasing index put options. The Fund’s stockportfolio will have approximately 500 stocksand seeks to duplicate the investmentcomposition and return of the S&P 500®Index. The combination of the diversified stockportfolio, the steady cash flow from the sale ofindex call options and the downside protectionfrom index put options is intended to providethe Fund with the majority of the returnsassociated with equity market investments withthe potential to reduce volatility by exposinginvestors to less risk than other equityinvestments.

Index*S&P 500®






6/019/01

12/013/02

6/029/02

12/023/03

6/039/03

12/033/04

6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

Growth of $10,000MML Managed Volatility Fund S&P 500 - Total Return®



MML Managed Volatility Fund 3.62 17.78 17.78 8.59 13.47 5.21

S&P 500 - Total Return® 10.51 32.39 32.39 16.18 17.94 7.41

SinceInception

3.44

--

50 of 78

MML Managed Volatility FundData as of: 12/31/2013

Top 10 HoldingsApple Inc. 3.08%Exxon Mobil Corporation 2.70%Google Inc. Class A 1.91%Microsoft Corporation 1.74%General Electric Company 1.73%Johnson & Johnson 1.58%Chevron Corporation 1.47%The Procter & Gamble Company 1.35%JPMorgan Chase & Co. 1.34%Wells Fargo & Company 1.33%Total 18.24%

Sector Weights

.00%

2.00

%

4.00

%

6.00

%

8.00

%

10.0

0%

12.0

0%

14.0

0%

16.0

0%

18.0

0%

20.0

0%


ConsumerStaples

Energy

Financials

HealthCare

Industrials


Materials


Utilities

MML Managed Volatility Fund S&P 500





8.59% 16.18%11.69% 11.94%

0.92 1.00-0.46% 0.00%

0.73 1.3588.14% 100.00%

36-months 36-months

Risk Reward

11.7% 11.75% 11.8% 11.85% 11.9% 11.95% 12%Annualized Standard Deviation

10%

12%

14%

16%

18%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Managed Volatility Fund S&P 500 - Total Return®


51 of 78

MML Mid Cap Growth FundData as of: 12/31/2013

AdvisorMassMutual


Portfolio ManagerBrian Berghuis


StrategyThe fund's subadviser, T. Rowe Price, uses agrowth approach, seeking to identifycompanies that it believes have provenproducts or services, a record of above-averageearnings growth, demonstrated potential tosustain earnings growth, stock prices thatappear to undervalue their growth prospects, ora connection to industries experiencingincreasing demand.

Index*Russell Midcap Growth®






5/068/06

11/062/07

5/078/07

11/072/08

5/088/08

11/082/09

5/098/09

11/092/10

5/108/10

11/102/11

5/118/11

11/112/12

5/128/12

11/122/13

5/138/13

11/13

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

$22,000

Growth of $10,000MML Mid Cap Growth Fund Russell Midcap Growth - Total Return®



MML Mid Cap Growth Fund 7.80 36.69 36.69 15.38 23.38 --Russell Midcap Growth - TotalReturn® 8.23 35.74 35.74 15.63 23.37 --

SinceInception

9.51

--

52 of 78

MML Mid Cap Growth FundData as of: 12/31/2013

Top 10 HoldingsFiserv, Inc. 1.78%IHS Inc. Class A 1.66%Textron Inc. 1.58%CarMax, Inc. 1.47%IDEX Corporation 1.43%Pall Corporation 1.41%EQT Corporation 1.35%Fidelity National Financial, Inc. Class A 1.33%Red Hat, Inc. 1.26%DENTSPLY International Inc. 1.25%Total 14.53%

Sector Weights

.00%

5.00

%

10.0

0%

15.0

0%

20.0

0%

25.0

0%

30.0

0%


ConsumerStaples

Energy

Financials

HealthCare

Industrials


Materials


Utilities

Cash

MML Mid Cap Growth Fund Russell Midcap Growth





15.38% 15.63%13.81% 14.62%

0.93 1.000.06% 0.00%1.11 1.06

97.88% 100.00%36-months 36-months

Risk Reward

13.8% 14% 14.2% 14.4% 14.6% 14.8%Annualized Standard Deviation

15.4%

15.45%

15.5%

15.55%

15.6%

15.65%

15.7%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Mid Cap Growth FundRussell Midcap Growth - Total Return®


53 of 78

MML Mid Cap Value FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorAmerican Century Investment Management,Inc.

Portfolio ManagerPhillip Davidson, Michael Liss, Kevin Toney

Fund ObjectiveSeeks long-term capital growth. Income is asecondary objective.

StrategyThe fund's subadviser, American Century,looks for companies with earnings, cash flowsand/or assets that may not be accuratelyreflected in the companies values, asdetermined by the managers. The managersalso may consider whether the companiessecurities have a favorable income-payinghistory and whether income payments areexpected to continue or increase.

Index*Russell Midcap Value®






5/068/06

11/062/07

5/078/07

11/072/08

5/088/08

11/082/09

5/098/09

11/092/10

5/108/10

11/102/11

5/118/11

11/112/12

5/128/12

11/122/13

5/138/13

11/13

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

Growth of $10,000MML Mid Cap Value Fund Russell Midcap Value - Total Return®



MML Mid Cap Value Fund 7.99 30.43 30.43 14.79 18.81 --Russell Midcap Value - TotalReturn® 8.56 33.46 33.46 15.97 21.16 --

SinceInception

9.03

--

54 of 78

MML Mid Cap Value FundData as of: 12/31/2013

Top 10 HoldingsRepublic Services, Inc. 3.27%iShares Russell Mid-Cap Value ETF 3.15%Northern Trust Corporation 2.99%Imperial Oil Limited 2.77%The ADT Corporation 2.05%Applied Materials, Inc. 1.80%Sysco Corporation 1.52%Westar Energy, Inc. 1.51%The PNC Financial Services Group, Inc. 1.50%Lowe's Companies, Inc. 1.43%Total 22.00%

Sector Weights

.00%

5.00

%

10.0

0%

15.0

0%

20.0

0%

25.0

0%

30.0

0%

35.0

0%


ConsumerStaples

Energy

Financials

HealthCare

Industrials


Materials


Utilities

Cash

MML Mid Cap Value Fund Russell Midcap Value





14.79% 15.97%11.36% 13.69%

0.82 1.000.13% 0.00%1.30 1.16

96.90% 100.00%36-months 36-months

Risk Reward

11.5% 12% 12.5% 13% 13.5% 14% 14.5%Annualized Standard Deviation

14.8%

15%

15.2%

15.4%

15.6%

15.8%

16%

16.2%

16.4%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Mid Cap Value FundRussell Midcap Value - Total Return®


55 of 78

MML Small Cap Equity FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorOppenheimerFunds, Inc.

Portfolio ManagerMatthew Ziehl, Raman Vardharaj, RaymondAnello, Joy Budzinski, Kristin Ketner Pak,Magnus Krantz, Adam Weiner

Fund ObjectiveSeeks capital appreciation.

StrategyThe fund's subadviser, OppenheimerFunds,typically uses fundamental research in theselection of securities, which is comprised ofboth growth and value stocks. Oppenheimeruses a fundamental approach in analyzingissuers based on factors such as a company'sfinancial performance, competitive strength,position in the industry, and strength ofbusiness model and management. Also inconsideration is an industry's outlook, markettrends and general economic conditions.

Index*Russell 2000®






6/019/01

12/013/02

6/029/02

12/023/03

6/039/03

12/033/04

6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$5,000

$10,000

$15,000

$20,000

$25,000

Growth of $10,000MML Small Cap Equity Fund Russell 2000 - Total Return®



MML Small Cap Equity Fund 6.71 41.02 41.02 17.76 22.44 7.98

Russell 2000 - Total Return® 8.72 38.82 38.82 15.67 20.08 9.07

SinceInception

5.97

--

56 of 78

MML Small Cap Equity FundData as of: 12/31/2013

Top 10 HoldingsLaSalle Hotel Properties 2.40%WellCare Health Plans, Inc. 2.24%Robert Half International Inc. 2.23%Dana Holding Corporation 2.23%KAR Auction Services, Inc. 2.08%Finisar Corporation 1.95%Korn/Ferry International 1.90%Home Loan Servicing Solutions, Ltd. 1.88%EPL Oil & Gas, Inc. 1.78%Santarus, Inc. 1.66%Total 20.36%

Sector Weights

.00%

5.00

%

10.0

0%

15.0

0%

20.0

0%

25.0

0%


ConsumerStaples

Energy

Financials

HealthCare

Industrials


Materials


Utilities

MML Small Cap Equity Fund Russell 2000


Market Capitalization $2,801 $1,766Price to Earnings 19.72 21.36Price to Book 2.45 2.24EPS 1.37 1.22Dividend Yield 1.37% 1.29%Hist 3Yr EPS Growth 23.48 26.85# of Securities 95 2,004



17.76% 15.67%16.10% 16.45%

0.96 1.000.20% 0.00%1.10 0.95

95.76% 100.00%36-months 36-months

Risk Reward


15%

15.5%

16%

16.5%

17%

17.5%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Small Cap Equity Fund Russell 2000 - Total Return®

Disclosures• Performance numbers for periods that pre-date the contract's availability are hypothetical and are calculated based on the date shown, whichwas the date the fund was originally made available to the Separate Account.* Market Indices have been provided for informational purposes only; they are unmanaged and reflect no fees or expenses of the product.Individuals cannot invest directly in an index.• Percentages are based on dollar-weighted values of invested assets. Holdings are subject to change.• Investments in companies with small market capitalizations (small caps) may be subject to greater price volatility than investments incompanies with larger capitalizations because small caps are generally subject to special risks such as narrower markets, less financial resourcesand less liquid stocks.

57 of 78

MML Small Cap Growth Equity FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorWaddell & Reed Investment ManagementCompany and Wellington ManagementCompany, LLP

Portfolio ManagerWaddell & Reed: Gilbert Scott; Wellington:Kenneth Abrams, Steven Angeli, MarioAbularach, Daniel Fitzpatrick, StephenMortimer

Fund ObjectiveSeeks long-term appreciation.

StrategyThe fund is managed by two subadvisers,Wellington and Waddell & Reed. Eachsubadviser employs a growth-based investmentapproach and uses a combination offundamental and quantitative analyses toidentify small-cap companies that it believesare experiencing or will experience rapidearnings or revenue growth.







6/019/01

12/013/02

6/029/02

12/023/03

6/039/03

12/033/04

6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$5,000

$10,000

$15,000

$20,000

$25,000

Growth of $10,000MML Small Cap Growth Equity Fund Russell 2000 Growth - Total Return®


Fund Name / Index* QTD YTD 1 YR 3 YR 5 YR 10 YRMML Small Cap Growth EquityFund 10.09 48.54 48.54 16.88 21.99 9.64Russell 2000 Growth - TotalReturn® 8.17 43.30 43.30 16.82 22.58 9.41

SinceInception

8.78

--

58 of 78

MML Small Cap Growth Equity FundData as of: 12/31/2013

Top 10 HoldingsDexCom, Inc. 1.89%Armstrong World Industries, Inc. 1.57%Portfolio Recovery Associates, Inc. 1.50%Cyberonics, Inc. 1.37%WageWorks, Inc. 1.29%Dril-Quip, Inc. 1.07%Tyler Technologies, Inc. 1.07%The Middleby Corporation 1.02%Financial Engines, Inc. 1.00%Panera Bread Company Class A 0.94%Total 12.73%

Sector Weights

.00%

5.00

%

10.0

0%

15.0

0%

20.0

0%

25.0

0%


ConsumerStaples

Energy

Financials

HealthCare

Industrials


Materials


Utilities

Cash

MML Small Cap Growth Equity FundRussell 2000 Growth





16.88% 16.82%16.84% 17.27%

0.96 1.000.06% 0.00%1.00 0.97

96.59% 100.00%36-months 36-months

Risk Reward

16.9% 17% 17.1% 17.2% 17.3% 17.4%Annualized Standard Deviation

16.8%

16.81%

16.82%

16.83%

16.84%

16.85%

16.86%

16.87%

16.88%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Small Cap Growth Equity FundRussell 2000 Growth - Total Return®


59 of 78

MML Small/Mid Cap Value FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorAllianceBernstein L.P.

Portfolio ManagerJames MacGregor, Andrew Weiner, JosephPaul

Fund ObjectiveSeeks long-term total return.

StrategyThe fund's subadviser, AllianceBernstein, seeksto identify companies whose ability to growearnings over the long term does not appear tobe reflected in their current market price.AllianceBernstein uses a proprietaryquantitative tool to screen on various valuationand success factors then ranks those stocks bytheir expected returns. AllianceBernstein thenconducts intensive fundamental research intothe most attractive 20% of those stocks,constructing a portfolio on the basis of a stocksexpected return on a risk-adjusted basis.







5/068/06

11/062/07

5/078/07

11/072/08

5/088/08

11/082/09

5/098/09

11/092/10

5/108/10

11/102/11

5/118/11

11/112/12

5/128/12

11/122/13

5/138/13

11/13

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

Growth of $10,000MML Small/Mid Cap Value Fund Russell 2500 Value - Total Return®



MML Small/Mid Cap Value Fund 9.00 38.18 38.18 15.02 22.47 --Russell 2500 Value - TotalReturn® 8.83 33.32 33.32 15.38 19.61 --

SinceInception

5.05

--

60 of 78

MML Small/Mid Cap Value FundData as of: 12/31/2013

Top 10 HoldingsGannett Co., Inc. 1.60%Terex Corporation 1.50%PulteGroup, Inc. 1.49%Genworth Financial, Inc. Class A 1.47%Avnet, Inc. 1.47%Zions Bancorporation 1.46%Tutor Perini Corporation 1.46%American Financial Group, Inc. 1.44%Arrow Electronics, Inc. 1.43%Western Refining, Inc. 1.42%Total 14.74%

Sector Weights

.00%

5.00

%

10.0

0%

15.0

0%

20.0

0%

25.0

0%

30.0

0%

35.0

0%

40.0

0%


ConsumerStaples

Energy

Financials

HealthCare

Industrials


Materials


Utilities

MML Small/Mid Cap Value Fund Russell 2500 Value





15.02% 15.38%16.81% 15.07%

1.10 1.00-0.13% 0.00%

0.89 1.0297.20% 100.00%

36-months 36-months

Risk Reward

14.5% 15% 15.5% 16% 16.5%Annualized Standard Deviation

15.1%

15.2%

15.3%

15.4%

15.5%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Small/Mid Cap Value FundRussell 2500 Value - Total Return®


61 of 78

Oppenheimer Capital Appreciation Fund/VAData as of: 12/31/2013


Sub-AdvisorNA

Portfolio ManagerMichael Kotlarz


StrategyThe fund's adviser, Oppenheimer, seeks broaddiversification across market sectors andindustries investing in growth companies forreasonable prices that exhibit above-averagegrowth potential, have sustainable growth rates,and have reasonable valuations.







6/019/01

12/013/02

6/029/02

12/023/03

6/039/03

12/033/04

6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

Growth of $10,000Oppenheimer Capital Appreciation Fund/VA Russell 1000 Growth - Total Return®


Fund Name / Index* QTD YTD 1 YR 3 YR 5 YR 10 YROppenheimer Capital AppreciationFund 10.82 29.74 29.74 13.54 18.27 5.73Russell 1000 Growth - TotalReturn® 10.44 33.48 33.48 16.45 20.39 7.83

SinceInception

10.11

--

62 of 78

Oppenheimer Capital Appreciation Fund/VAData as of: 12/31/2013

Top 10 HoldingsApple Inc. 6.43%Google Inc. Class A 4.24%Biogen Idec Inc. 3.39%Facebook, Inc. Class A 3.20%Gilead Sciences, Inc. 3.07%The Walt Disney Company 2.93%MasterCard Incorporated Class A 2.45%Celgene Corporation 2.22%Amazon.com, Inc. 2.18%Twenty-First Century Fox, Inc. Class B 2.17%Total 32.29%

Sector Weights

.00%

5.00

%

10.0

0%

15.0

0%

20.0

0%

25.0

0%

30.0

0%


ConsumerStaples

Energy

Financials

HealthCare

Industrials


Materials


Utilities

Cash

Oppenheimer Capital Appreciation Fund/VARussell 1000 Growth





13.54% 16.45%12.88% 12.18%

1.05 1.00-0.27% 0.00%

1.05 1.3598.08% 100.00%

36-months 36-months

Risk Reward


13.5%

14%

14.5%

15%

15.5%

16%

16.5%

17%

17.5%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

Oppenheimer Capital Appreciation Fund/VARussell 1000 Growth - Total Return®


63 of 78

Oppenheimer Discovery Mid Cap Growth Fund/VAData as of: 12/31/2013


Sub-AdvisorNA

Portfolio ManagerRonald Zibelli, Jr.


StrategyThe fund's adviser, Oppenheimer, looks forcompanies that have a high growth potentialusing a bottom-up selection process. Thefundamental analysis includes a focus onfinancial statements, management structure,operations, product development and industryposition. The manager focuses on high-growthcompanies that are characterized by industryleadership, market share growth, high calibermanagement teams, sustainable competitiveadvantages, and strong growth themes or newinnovative products or services.

Index*Russell Midcap Growth®






6/019/01

12/013/02

6/029/02

12/023/03

6/039/03

12/033/04

6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$5,000

$10,000

$15,000

$20,000

$25,000

Growth of $10,000Oppenheimer Discovery Mid Cap Growth Fund/VA Russell Midcap Growth - Total Return®


Fund Name / Index* QTD YTD 1 YR 3 YR 5 YR 10 YROppenheimer Discovery Mid CapGrowth Fund/VA 7.49 35.98 35.98 16.98 22.03 7.34Russell Midcap Growth - TotalReturn® 8.23 35.74 35.74 15.63 23.37 9.77

SinceInception

9.40

--

64 of 78

Oppenheimer Discovery Mid Cap Growth Fund/VAData as of: 12/31/2013

Top 10 HoldingsTractor Supply Company 2.20%Affiliated Managers Group, Inc. 1.89%Linkedin Corporation Class A 1.88%CoStar Group, Inc. 1.71%B/E Aerospace Inc. 1.56%Westinghouse Air Brake Technologies Corpora... 1.50%Actavis Plc 1.49%Under Armour, Inc. Class A 1.47%Hexcel Corporation 1.46%Kansas City Southern 1.45%Total 16.61%

Sector Weights

.00%

5.00

%

10.0

0%

15.0

0%

20.0

0%

25.0

0%

30.0

0%


ConsumerStaples

Energy

Financials

HealthCare

Industrials


Materials


Utilities

Cash

Oppenheimer Discovery Mid Cap Growth Fund/VARussell Midcap Growth





16.98% 15.63%14.43% 14.62%

0.94 1.000.18% 0.00%1.17 1.06

90.51% 100.00%36-months 36-months

Risk Reward


15.2%15.4%15.6%15.8%

16%16.2%16.4%16.6%16.8%

17%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

Oppenheimer Discovery Mid Cap Growth Fund/VARussell Midcap Growth - Total Return®


65 of 78

Oppenheimer Main Street Fund/VAData as of: 12/31/2013


Sub-AdvisorNA

Portfolio ManagerMani Govil, Benjamin Ram


StrategyThe fund's adviser, Oppenheimer, invests incompanies based on in-depth fundamentalresearch, supported by quantitative screening.The portfolio is comprised of stocks that areattractively priced relative to a company'sunderlying prospects. The screening uses astock scoring model to rank stocks based onexpectation of alpha while fundamentalresearch focuses on industry competitiveanalysis, position in the value chain, barriers toentry and regulatory changes.

Index*S&P 500®






6/019/01

12/013/02

6/029/02

12/023/03

6/039/03

12/033/04

6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

Growth of $10,000Oppenheimer Main Street Fund/VA S&P 500 - Total Return®



Oppenheimer Main Street Fund® 10.62 31.77 31.77 15.48 18.06 7.00

S&P 500 - Total Return® 10.51 32.39 32.39 16.18 17.94 7.41

SinceInception

8.66

--

66 of 78

Oppenheimer Main Street Fund/VAData as of: 12/31/2013

Top 10 HoldingsApple Inc. 4.55%JPMorgan Chase & Co. 4.54%Chevron Corporation 3.76%Google Inc. Class A 3.67%Express Scripts Holding Company 3.37%National Oilwell Varco, Inc. 3.34%Discover Financial Services 3.30%Philip Morris International Inc. 3.27%AutoZone, Inc. 3.18%McGraw Hill Financial, Inc. 2.85%Total 35.84%

Sector Weights

.00%

5.00

%

10.0

0%

15.0

0%

20.0

0%

25.0

0%


ConsumerStaples

Energy

Financials

HealthCare

Industrials


Materials


Utilities

Cash

Oppenheimer Main Street Fund/VA S&P 500





15.48% 16.18%11.88% 11.94%

0.97 1.00-0.01% 0.00%

1.30 1.3595.21% 100.00%

36-months 36-months

Risk Reward

11.88% 11.89% 11.9% 11.91% 11.92% 11.93% 11.94% 11.95%Annualized Standard Deviation

15.6%

15.8%

16%

16.2%

16.4%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

Oppenheimer Main Street Fund/VAS&P 500 - Total Return®


67 of 78

PIMCO CommodityRealReturn StrategyData as of: 12/31/2013

AdvisorPacific Investment Management CompanyLLC

Sub-AdvisorNA

Portfolio ManagerMihir Worah

Fund ObjectiveSeeks maximum real return consistent withprudent investment management.

StrategyThe portfolio is non-diversified, investing in afewer number of securities and mayconcentrate in particular sectors of the index.The portfolio's adviser, PIMCO, seeks to gainexposure to the commodity markets throughinvestments in commodity index-linked notes,with their principal and/or coupon paymentslinked to the performance of commodityindices.

Index*Dow Jones-UBS Commodity Index (TR)®






6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

Growth of $10,000PIMCO CommodityRealReturn Strategy Dow Jones-UBS Commodity Index (TR)®


Fund Name / Index* QTD YTD 1 YR 3 YR 5 YR 10 YRPIMCO CommodityRealReturn®Strategy Portfolio -2.26 -14.71 -14.71 -6.06 7.84 --Dow Jones-UBS Commodity Index(TR)® -1.05 -9.52 -9.52 -8.11 1.51 --

SinceInception

2.24

--

68 of 78

PIMCO CommodityRealReturn StrategyData as of: 12/31/2013


Annualized Return

Standard Deviation

Beta

Alpha

Sharpe Ratio

R-Squared

# Observations

-6.06% -8.11%

16.52% 14.62%

1.10 1.00

0.27% 0.00%

-0.37 -0.56

94.47% 100.00%

36-months 36-months

Risk Reward

14% 14.5% 15% 15.5% 16% 16.5%Annualized Standard Deviation

-8.5%

-8%

-7.5%

-7%

-6.5%

-6%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

PIMCO CommodityRealReturn StrategyDow Jones-UBS Commodity Index (TR)®

Disclosures• Performance numbers for periods that pre-date the contract's availability are hypothetical and are calculated based on the date shown, whichwas the date the fund was originally made available to the Separate Account.* Market Indices have been provided for informational purposes only; they are unmanaged and reflect no fees or expenses of the product.Individuals cannot invest directly in an index.• Percentages are based on dollar-weighted values of invested assets. Holdings are subject to change.• There are special risks associated with international investing such as differences in accounting practices, political changes, and currencyfluctuations. These risks are heightened in emerging markets.• Investments in below investment grade debt securities are generally subject to greater market fluctuations and risk of loss of income andprincipal than are investments in investment grade debt securities.• This fund may experience greater short-term price volatility due to concentration and non-diversification. It is most suitable for use in theaggressive component of an investment portfolio.• This fund may experience greater volatility from investments in commodity-linked derivative instruments than investments in traditionalsecurities.The fund established a new class of shares, which is available with this policy, after it began its initial investment operations. The performancefor the period prior to offering the new class shows the historical returns for the original class of shares, which were not subject to a 12b-1 fee.The performance shown from the inception date of the class available with this policy includes the fees and expenses of that share class,including a 12b-1 fee. A 12b-1 fee reduces a funds performance.

69 of 78

MML Foreign FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorTempleton Investment Counsel, LLC

Portfolio ManagerPeter Nori, Tina Sadler, Cindy Sweeting

Fund ObjectiveSeeks long-term capital growth.

StrategyThe fund's subadviser, Templeton, employs aphilosophy that is bottom-up, value-oriented,and long-term. In choosing investments for thefund, Templeton focuses on the market price ofa companys securities relative to its evaluationof the companys potential long-term earnings,asset value and cash flow. A companyshistorical value measures, includingprice/earnings ratio, profit margins andliquidation value, may also be considered.

Index*MSCI EAFE Provisional®






5/068/06

11/062/07

5/078/07

11/072/08

5/088/08

11/082/09

5/098/09

11/092/10

5/108/10

11/102/11

5/118/11

11/112/12

5/128/12

11/122/13

5/138/13

11/13

$6,000

$7,000

$8,000

$9,000

$10,000

$11,000

$12,000

$13,000

$14,000

Growth of $10,000MML Foreign Fund MSCI EAFE - Net Return®



MML Foreign Fund 5.95 20.80 20.80 9.02 11.89 --

MSCI EAFE - Net Return® 5.71 22.78 22.78 8.17 12.44 --

SinceInception

3.53

--

70 of 78

MML Foreign FundData as of: 12/31/2013

Top 10 HoldingsSanofi 2.70%BNP Paribas SA Class A 2.35%Roche Holding Ltd Genusssch. 2.27%Akzo Nobel N.V. 2.17%Samsung Electronics Co., Ltd. 2.12%ING Groep NV Cert. of Shs 2.04%Bayer AG 1.96%GlaxoSmithKline plc 1.84%AXA SA 1.84%Vodafone Group Plc Sponsored ADR 1.83%Total 21.12%

Top 5 Country Weights

6.00

%

8.00

%

10.0

0%

12.0

0%

14.0

0%

16.0

0%

18.0

0%

20.0

0%

UnitedKingdom

France

Germany

Netherlands

Japan

Fund

Sector WeightsPort. Weight Ind. Weight

Consumer Discretionary 9.02% 13.41%Consumer Staples 2.61% 11.75%Energy 11.84% 7.18%Financials 24.20% 20.52%Health Care 14.14% 10.79%Industrials 10.68% 13.54%Information Technology 7.59% 5.14%Materials 7.44% 8.13%Telecommunication Services 9.26% 6.34%Utilities 0.41% 3.20%[Cash] 2.81% --Total 100.00% 100.00%





9.02% 8.17%16.08% 16.25%

0.96 1.000.09% 0.00%0.56 0.50

94.23% 100.00%36-months 36-months

Risk Reward


8%

8.2%

8.4%

8.6%

8.8%

9%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Foreign Fund MSCI EAFE - Net Return®

Disclosures• Performance numbers for periods that pre-date the contract's availability are hypothetical and are calculated based on the date shown, whichwas the date the fund was originally made available to the Separate Account.* Market Indices have been provided for informational purposes only; they are unmanaged and reflect no fees or expenses of the product.Individuals cannot invest directly in an index.• Percentages are based on dollar-weighted values of invested assets. Holdings are subject to change.• There are special risks associated with international investing such as differences in accounting practices, political changes, and currencyfluctuations. These risks are heightened in emerging markets.

71 of 78

MML Global FundData as of: 12/31/2013

AdvisorMassMutual

Sub-AdvisorMassachusetts Financial Services Company

Portfolio ManagerDavid Mannheim, Roger Morley


StrategyThe fund's subadviser, MFS, selectsinvestments primarily based on fundamentalanalysis of issuers but quantitative analysismay also be considered. MFS is not constrainedto any particular investment style and mayinvest the funds assets in growth companies,value companies, or in a combination of growthand value companies.







5/068/06

11/062/07

5/078/07

11/072/08

5/088/08

11/082/09

5/098/09

11/092/10

5/108/10

11/102/11

5/118/11

11/112/12

5/128/12

11/122/13

5/138/13

11/13

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

Growth of $10,000MML Global Fund MSCI The World Index - Net Return®



MML Global Fund 8.23 28.34 28.34 15.04 17.79 --MSCI The World Index - NetReturn® 8.00 26.68 26.68 11.49 15.02 --

SinceInception

4.66

--

72 of 78

MML Global FundData as of: 12/31/2013

Top 10 HoldingsThe Walt Disney Company 3.15%Linde AG 2.80%Nestle S.A. 2.64%Reckitt Benckiser Group plc 2.44%Honeywell International Inc. 2.42%Thermo Fisher Scientific Inc. 2.40%Bayer AG 2.36%Diageo plc 2.32%Visa Inc. Class A 2.19%State Street Corporation 2.09%Total 24.80%


5.00

%

10.0

0%

15.0

0%

20.0

0%

25.0

0%

30.0

0%

35.0

0%

40.0

0%

45.0

0%

50.0

0%

55.0

0%

UnitedStates

UnitedKingdom

Switzerland

Germany

France

Fund


Consumer Discretionary 18.69% 12.96%Consumer Staples 16.85% 11.16%Energy 3.31% 9.60%Financials 14.29% 16.77%Health Care 12.68% 11.82%Industrials 14.76% 12.20%Information Technology 11.22% 13.25%Materials 6.78% 5.44%Telecommunication Services -- 4.09%Utilities -- 2.70%[Cash] 1.43% --Total 100.00% 100.00%





15.04% 11.49%14.44% 13.54%

1.04 1.000.23% 0.00%1.04 0.84

95.22% 100.00%36-months 36-months

Risk Reward

13.2% 13.4% 13.6% 13.8% 14% 14.2% 14.4%Annualized Standard Deviation

11%

12%

13%

14%

15%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

MML Global Fund MSCI The World Index - Net Return®


73 of 78

Oppenheimer Global Fund/VAData as of: 12/31/2013


Sub-AdvisorNA

Portfolio ManagerRajeev Bhaman


StrategyThe fund's adviser, Oppenheimer, selects bothU.S. and foreign companies that have highgrowth potential. The approach includesfundamental analysis of financial statements,management structure, operations, productdevelopment and industry position. To achievediversification the manager will focus onworldwide growth oriented companies,attractive valuations that benefit from globaltrends, high demand and companies that havecyclical opportunities in their business cycle,sectors or industries.







6/019/01

12/013/02

6/029/02

12/023/03

6/039/03

12/033/04

6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$6,000$8,000

$10,000$12,000

$14,000

$16,000$18,000

$20,000$22,000

$24,000

$26,000

Growth of $10,000Oppenheimer Global Fund/VA MSCI The World Index - Net Return®



Oppenheimer Global Fund/VA 7.67 27.31 27.31 12.29 18.07 8.87MSCI The World Index - NetReturn® 8.00 26.68 26.68 11.49 15.02 6.98

SinceInception

10.43

--

74 of 78

Oppenheimer Global Fund/VAData as of: 12/31/2013

Top 10 HoldingsExxon Mobil Corporation 1.94%Apple Inc. 1.72%Microsoft Corporation 1.11%Nestle S.A. 1.01%General Electric Company 0.99%Google Inc. Class A 0.93%Chevron Corporation 0.93%Johnson & Johnson 0.92%International Business Machines Corporation 0.91%The Procter & Gamble Company 0.89%Total 11.35%


.00%

10.0

0%

20.0

0%

30.0

0%

40.0

0%

50.0

0%

60.0

0%

UnitedStates

UnitedKingdom

Japan

Germany

Switzerland

Fund


Consumer Discretionary 12.96% 12.96%Consumer Staples 11.16% 11.16%Energy 9.60% 9.60%Financials 16.77% 16.77%Health Care 11.82% 11.82%Industrials 12.20% 12.20%Information Technology 13.25% 13.25%Materials 5.44% 5.44%Telecommunication Services 4.09% 4.09%Utilities 2.70% 2.70%Total 100.00% 100.00%





12.29% 11.49%15.65% 13.54%

1.13 1.00-0.05% 0.00%

0.78 0.8496.03% 100.00%

36-months 36-months

Risk Reward

13% 13.5% 14% 14.5% 15% 15.5%Annualized Standard Deviation

11.2%

11.4%

11.6%

11.8%

12%

12.2%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

Oppenheimer Global Fund/VAMSCI The World Index - Net Return®


75 of 78

Oppenheimer International Growth Fund/VAData as of: 12/31/2013


Sub-AdvisorNA

Portfolio ManagerGeorge Evans, Robert Dunphy


StrategyThe fund's adviser, Oppenheimer, evaluatesopportunities on a company-by-company basisinvesting in the foreign markets. The managerseeks companies with high growth potentialusing a bottom-up approach looking atperformance of individual stocks beforeconsidering industry specific economic trends,fundamental analysis of financial statements,management structure, operations, productdevelopment and industry position.

Index*MSCI EAFE Provisional®






6/019/01

12/013/02

6/029/02

12/023/03

6/039/03

12/033/04

6/049/04

12/043/05

6/059/05

12/053/06

6/069/06

12/063/07

6/079/07

12/073/08

6/089/08

12/083/09

6/099/09

12/093/10

6/109/10

12/103/11

6/119/11

12/113/12

6/129/12

12/123/13

6/139/13

12/13

$5,000

$10,000

$15,000

$20,000

$25,000

Growth of $10,000Oppenheimer International Growth Fund/VA MSCI EAFE - Net Return®


Fund Name / Index* QTD YTD 1 YR 3 YR 5 YR 10 YROppenheimer International GrowthFund 6.20 25.87 25.87 12.61 17.94 9.99

MSCI EAFE - Net Return® 5.71 22.78 22.78 8.17 12.44 6.91

SinceInception

8.16

--

76 of 78

Oppenheimer International Growth Fund/VAData as of: 12/31/2013

Top 10 HoldingsOPPENHEIMER INSTITUTIONAL MONEOPPENHEIMER ... 3.28%BT Group plc 2.53%SAP AG 1.93%Aalberts Industries N.V. 1.65%Amadeus IT Holding SA Class A 1.47%Roche Holding Ltd Genusssch. 1.43%Aryzta AG 1.42%Essentra plc 1.36%Bunzl plc 1.36%ICAP plc 1.36%Total 17.79%


.00%

5.00

%

10.0

0%

15.0

0%

20.0

0%

25.0

0%

30.0

0%

35.0

0%

UnitedKingdom

Switzerland

France

Netherlands

Germany

Fund


Consumer Discretionary 18.67% 13.41%Consumer Staples 11.36% 11.75%Energy 4.92% 7.18%Financials 5.06% 20.52%Health Care 9.14% 10.79%Industrials 22.37% 13.54%Information Technology 15.98% 5.14%Materials 4.83% 8.13%Telecommunication Services 4.37% 6.34%Utilities -- 3.20%Cash 3.30% --Total 100.00% 100.00%





12.61% 8.17%14.84% 16.25%

0.88 1.000.41% 0.00%0.85 0.50

92.57% 100.00%36-months 36-months

Risk Reward

15% 15.5% 16% 16.5%Annualized Standard Deviation

7%

8%

9%

10%

11%

12%

Ann

ualiz

ed R

etur

n

Trailing 36-Months

Oppenheimer International Growth Fund/VAMSCI EAFE - Net Return®


77 of 78

Variable Universal Life III (VUL III) (Policy Form P2-2008, ICC08P2 and ICC08P2X in certain states, including North Carolina) is participating, variable universal life insurance. Dividends are not expected to be paid. The VUL III policy is issued by Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001.

Principal Underwriters: MML Investors Services , LLC MML Distributors, LLC

Subsidiaries of Massachusetts Mutual Life Insurance Company 1295 State Street Springfield, MA 01111-0001

Securities offered through registered representatives of MML Investors Services, LLC, Member SIPC, Springfield, MA 01111-0111 or of a broker-dealer with a selling agreement with MML Distributors, LLC, Member SIPC, Springfield, MA 01111-0111.

Certain features and/or investment choices may not be available in all states.

LI4415 1013 CRN201510-147472

© 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives.

There are many reasons to choose a life insurance company to help meet your financial needs: protection for your family or business, products to provide supplemental income and the confidence of knowing you will be prepared for the future.

At Massachusetts Mutual Life Insurance Company (MassMutual), we operate for the benefit of our participating policyowners. We stand strong in the fundamental belief that every secure future begins with a good decision. And when choosing a life insurance company – ownership, strength and stability matter.

Learn more at www.massmutual.com/mutuality

MassMutual. We’ll help you get there.®

78 of 78

quarterly portfolio guide - massmutualquarterly portfolio guide december 31, 2013 gain insight into...

Documents