Form 497VPU PARAGON SEPARATE ACCOUNT

April 24, 2026 9:29 AM EDT
April 27, 2026
Updating Summary Prospectus For Investors In Group and Individual Flexible Premium Variable Life Insurance Policies (AFIS)
Issued by Paragon Separate Account A of
Metropolitan Life Insurance Company
This Updating Summary Prospectus summarizes key features of group flexible premium variable life insurance policies (the “Group Contracts”) and the Certificates issued under the Group Contracts (the “Policies”) of Metropolitan Life Insurance Company (“Metropolitan Life,” “MetLife,” “we,” “our,” “us” or the “Company”).
The Prospectus for the Policies contains more information about the Policies, including features, benefits, and risks. You can find the current Prospectus and other information about the Policies online at https://dfinview.com/metlife/PUFT/MET000219. You can also obtain this information at no cost by calling (800) 756-0124 or by sending an email request to [email protected].
Additional information about certain investment products, including variable life insurance contracts, has been prepared by the Securities and Exchange Commission’s staff and is available at Investor.gov.
Interests in the Separate Account, the Portfolios and the General Account are not deposits or obligations of, or insured or guaranteed by, the U.S. Government, any bank or other depository institution including the Federal Deposit Insurance Corporation (“FDIC”), the Federal Reserve Board or any other agency or entity or person. MetLife’s obligations under the Policy are subject to its financial strength and claims-paying ability.
The Securities and Exchange Commission (“SEC”) has not approved or disapproved the Policy or determined that this Prospectus is adequate or complete. Any representation to the contrary is a criminal offense.
UPDATED INFORMATION ABOUT YOUR POLICY
The information in this Updating Summary Prospectus is a summary of certain Policy features that have changed since You last received the Prospectus dated April 28, 2025. This may not reflect all of the changes that have occurred since You entered into your Policy:
●
For changes in the names of certain Portfolios and any other changes to the Portfolios please refer to Appendix A.
●
For updated Portfolio expense information please refer to "Important Information You Should Consider About the Policy" and Appendix A.
●
For updated Portfolio performance information please refer to Appendix A.
IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE POLICY 
FEES AND EXPENSES
LOCATION IN
PROSPECTUS
Charges for Early
Withdrawals
A contingent deferred sales charge (also referred to as a surrender
charge) may be deducted from the Cash Value of the Policy upon
surrender or lapse in the Policy, a requested decrease in Face
Amount, or a partial withdrawal that causes the Face Amount to
decrease during the first 10 Policy Years (and during the first 10
Policy Years after an increase in Face Amount). The maximum
surrender charge is 30% of premiums paid in the first Policy Year (or
of premiums associated with an increase in Face Amount), not to
exceed guideline annual premium for the initial Face Amount (or for
the Face Amount increase). For example, the maximum contingent
deferred sales charge, assuming an initial premium of $100,000 is
$30,000.
Charges and
Deductions –
Transaction Charges
Transaction Charges
You may be subject to charges if you surrender, lapse, make a partial
withdrawal or decrease your Face Amount. You also may be charged
for other transactions, such as when you make a premium payment,
transfer Cash Value between investment options, or exercise your
Accelerated Death Benefit Settlement Option Rider.
Charges and
Deductions –
Transaction Charges
Ongoing Fees and
Expenses (annual
charges)
In addition to withdrawal charges and transaction charges described
above, an investment in the Policy is subject to certain ongoing fees
and expenses, including a mortality and expense risk charge and a
monthly deduction covering the cost of insurance under the Policy, a
monthly administrative charge and charges for optional benefits
added by rider. Such fees and expenses are set based on
characteristics of the Insured (e.g., the age and rate class of the
covered person) as well as the Group characteristics. Please refer to
the specifications page of your Policy for applicable rates.
You will also bear expenses associated with the Portfolios available
under your Policy, as shown in the following table:
Charges and
Deductions – Monthly
Deduction
 
Charges and
Deductions – Mortality
and Expense Risk
Charge
 
Charges and
Deductions – Portfolio
Charges and Expenses
ANNUAL FEE
MIN
MAX
Investment options (Portfolio fees
and expenses)
0.09%
0.95%
 
RISKS
LOCATION IN
PROSPECTUS
Risk of Loss
You can lose money by investing in this Policy, including loss of
principal.
Principal Risks
3
 
RISKS
LOCATION IN
PROSPECTUS
Not a Short-Term
Investment
The Policies are designed to provide insurance protection. They
should not be used as a short-term investment or if you need ready
access to cash, because you will be charged when you make
premium payments, you surrender the Policy or the Policy lapses
and you will also pay a transaction fee on partial withdrawals and
you may pay a surrender charge. In addition, withdrawals may be
subject to ordinary income tax and tax penalties.
Principal Risks
Risks Associated with
Investment Options
An investment in this Policy is subject to the risk of poor investment
performance and can vary depending on the performance of the
Portfolios available under the Policy. Each investment option
(including any General Account investment option) has its own
unique risks. You should review the investment options before
making an investment decision.
Principal Risks
Insurance Company
Risks
Investments in the Policy are subject to the risks related to
Metropolitan Life, including any obligations (including under any
General Account investment option), guarantees, and benefits of the
Policy, including any death benefit, that are subject to the claims
paying ability of Metropolitan Life. If Metropolitan Life experiences
financial distress, it may not be able to meet its obligations to you.
More information about Metropolitan Life, including its financial
strength ratings, is available upon request by calling (800) 756-0124
or visiting: https://www.metlife.com/about-us/corporate-profile/
ratings.
Principal Risks
Contract Lapse
Your Policy may lapse if you have paid an insufficient amount of
premiums or if the investment experience of the Portfolios is poor
and the Cash Surrender Value under your Policy is insufficient to
cover the monthly deduction. Lapse of a Policy on which there is an
outstanding loan may have adverse tax consequences. If the Policy
lapses, no death benefit will be paid. A Policy may be reinstated if
the conditions for reinstatement are met including the payment of
required premiums.
Principal Risks
4
 
RESTRICTIONS
LOCATION IN
PROSPECTUS
Investments
Policy Owners may transfer Cash Value between and among the
Divisions and the General Account. At the present time, no charge is
assessed against the Cash Value of a Policy when amounts are
transferred among the Divisions of the Separate Account and
between the Divisions and the General Account, but we reserve the
right to impose a charge of $25 to cover administrative costs
incurred in processing any transfer in excess of 12 in a Policy Year.
We have limits on the amount that may be allocated and transferred
to the General Account (the “maximum allocation percentage”). The
initial General Account maximum allocation percentage is shown on
the Policy’s specifications page, and we may change this percentage
from time to time.
The total amount of transfers and withdrawals from the General
Account in a Policy Year may not exceed the greater of: (i) the
Policy’s Cash Surrender Value in the General Account at the
beginning of the Policy Year, multiplied by the withdrawal
percentage limit shown on the Policy’s specifications page; or (ii)
the previous Policy Year’s General Account maximum withdrawal
amount. We are currently not enforcing this restriction for partial
withdrawals. Restrictions may apply to frequent transfers.
Metropolitan Life reserves the right to remove or substitute
Portfolios as investment options that are available under the Policy.
Policy Benefits –
Transfers
Optional Benefits
Rider availability is subject to your Employer making the rider
available. Depending upon your Employer’s requirements, certain
Policy riders may only be able to be added to in force Policies during
the Employer’s annual enrollment. With respect to the dependent
life benefits (child coverage, or Spouse coverage), depending upon
your Employer's elected benefit, you may also need to be on active
status. You should check with your Employer regarding the
availability of riders and whether you need to be on active status to
elect the dependent life benefits (child coverage, or Spouse
coverage).
Features of the Policy –
Additional Benefits and
Riders
 
TAXES
LOCATION IN
PROSPECTUS
Tax Implications
Consult with a tax professional to determine the tax implications of
an investment in and payments received under this Policy.
Withdrawals may be subject to ordinary income tax, and may be
subject to tax penalties.
Lapse of a Policy on which there is an outstanding loan may have
adverse tax consequences.
Federal Tax Matters
 
CONFLICTS OF INTEREST
LOCATION IN
PROSPECTUS
Investment
Professional
Compensation
Your investment professional may receive compensation relating to
your ownership of a Policy. These investment professionals may have
a financial incentive to offer or recommend the Policy over another
investment.
Distribution of the
Policies
Exchanges
Some investment professionals may have a financial incentive to
offer you a new policy in place of your current Policy. You should
only exchange your Policy if you determine, after comparing the
features, fees, and risks of both policies, that it is better for you to
purchase the new policy rather than continue to own your existing
Policy.
Distribution of the
Policies
5
6
GLOSSARY
Administrative Office – The service office of the Company. The mailing address is: MetLife GVUL; Suite 600; 11330 Olive Boulevard; St. Louis, MO 63141. Unless another location is specified, all applications, notices and requests should be directed to the Administrative Office at the address above or, if permitted, by facsimile (also referred to as “fax”), email or through the Internet. You may also contact us for information at (800) 756-0124.
Attained Age – The Issue Age of the Insured plus the number of completed Policy Years.
Associated Companies – The companies listed in a Group Contract’s specifications pages that are under common control through stock ownership, contract or otherwise, with the Contractholder.
Beneficiary – The person(s) named in a Policy or by later designation to receive Policy proceeds in the event of the Insured’s death. A Beneficiary may be changed as set forth in the Policy and this Prospectus. Unless otherwise stated in the Policy, the Beneficiary has no rights in a Policy before the death of the Insured. If there is more than one Beneficiary at the death of the Insured, each will receive equal payments unless otherwise provided by the Owner.
Cash Value – The total amount that a Policy provides for investment at any time. It is equal to the total of the amounts credited to the Owner in the Separate Account, the General Account, and in the Loan Account.
Cash Surrender Value – The Cash Value of a Policy on the date of surrender, less any Indebtedness, any accrued and unpaid monthly deduction, any applicable surrender charge and any applicable transaction charge.
Certificate – A document issued to Owners of Policies issued under Group Contracts, setting forth or summarizing the Owner’s rights and benefits.
Contractholder – The Employer, association, sponsoring organization or trust that is issued a Group Contract.
Division – A subaccount of the Separate Account. Each Division invests exclusively in an available underlying Portfolio.
Effective Date – The actual date coverage shall take effect which will be on or after the Issue Date.
Employee – A person who is employed and paid for services by an Employer on a regular basis. To qualify as an Employee, a person ordinarily must work for an Employer at least 30 hours per week. MetLife may waive or modify this requirement at its discretion. An Employee may also include an independent contractor acting in many respects as an Employee with a sponsoring Employer. An Employee may include a partner in a partnership if the Employer is a partnership.
Employer – The employer, association, or sponsoring organization that is issued a Group Contract.
Face Amount – The minimum death benefit under the Policy so long as the Policy remains in force.
General Account – The Policy option where your money earns annual interest at a rate that will not be lower than the guaranteed minimum annual effective rate in effect on the issue date of your Group Contract, which in no event will be lower than 4%. We may credit higher rates of interest, but are not obligated to do so. The General Account is part of the Company’s general account.
Group Contract – A group flexible premium variable life insurance contract issued to the Contractholder by the Company.
7
Indebtedness – The sum of all unpaid Policy Loans and accrued interest charged on loans.
Individual Insurance – Insurance provided under a Group Contract in connection with an Employer-sponsored insurance program on an Employee or an Employee’s Spouse.
Insured – The person whose life is insured under a Policy. The term may include both an Employee and an Employee’s Spouse.
Investment Start Date – The date the initial premium is applied to the General Account and/or to the Divisions of the Separate Account. This date is the later of the Issue Date or the date the initial premium is received at our Company’s Administrative Office.
Issue Age – The Insured’s Age as of the date the Policy is issued.
Issue Date – The Issue Date is the date from which Policy Anniversaries, Policy Years, and Policy Months are measured.
Loan Account – The account of the Company to which amounts securing Policy Loans are allocated. It is a part of the Company’s general account assets.
Loan Value – The maximum amount that may be borrowed under a Policy after the first Policy Anniversary.
Maturity Date – The Policy Anniversary on which the Insured reaches Attained Age 95.
Monthly Anniversary – The same date in each succeeding month as the Issue Date except that whenever the Monthly Anniversary falls on a date other than a Valuation Date, the Monthly Anniversary will be deemed the next Valuation Date. If any Monthly Anniversary would be the 29th, 30th, or 31st day of a month that does not have that number of days, then the Monthly Anniversary will be the last day of that month.
Net Premium – The premium less any premium expense charge, any charge to compensate us for anticipated higher corporate income taxes resulting from the sale of a Policy and any charge for premium taxes.
Owner (or you) – The Owner of a Policy, as designated in the application or as subsequently changed.
Policy – Either the Certificate or the Individual Policy offered by the Company and described in this Prospectus. Under Group Contracts, the Policy may be issued on the Employee or on the Employee’s Spouse.
Policy Anniversary – The same date each year as the Issue Date.
Policy Month – A month beginning on the Monthly Anniversary.
Policy Year – A period beginning on a Policy Anniversary and ending on the day immediately preceding the next Policy Anniversary.
Portfolio — A portfolio represents a class (or series) of stock of a Fund in which a Division's assets are invested.
SEC (or the Commission) – The Securities and Exchange Commission.
Separate Account – Paragon Separate Account A, a separate investment account established by the Company to receive and invest the Net Premiums paid under the Policy.
Spouse – An Employee’s legal spouse. The term does not include a spouse who is legally separated from the Employee.
8
Valuation Date – Each day that the New York Stock Exchange is open for regular trading.
Valuation Period – The period between two successive Valuation Dates, commencing at the close of regular trading on the New York Stock Exchange (usually 4:00 p.m. Eastern Time) on a Valuation Date and ending at the close of regular trading on the New York Stock Exchange on the next succeeding Valuation Date.
9
APPENDIX A: PORTFOLIOS AVAILABLE UNDER THE POLICY
The following is a list of the Portfolios currently available under the Policy. More information about the Portfolios is available in the prospectuses for the Portfolios, which may be amended from time to time and can be found online at dfinview.com/metlife/PUFT/MET000219. You can also request this information at no cost by calling (800) 756-0124 or by sending an email request to [email protected].
The current expenses and performance information below reflects fees and expenses of the Portfolios, but does not reflect the other fees and expenses that the Policy may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Portfolio’s past performance is not necessarily an indication of future performance.
 
FUND
TYPE
PORTFOLIO AND
ADVISER/SUBADVISER
CURRENT
EXPENSES
AVERAGE ANNUAL
TOTAL RETURNS
(as of 12/31/2025)
1
YEAR
5
YEAR
10
YEAR
US Equity
American Funds American High-Income Trust* -
Class 1
Capital Research and Management CompanySM
0.37%
8.52%
5.87%
7.22%
Allocation
American Funds Asset Allocation Fund - Class 1
Capital Research and Management CompanySM
0.29%
16.16%
9.24%
10.05%
International Equity
American Funds EUPAC FundTM*# - Class 1
Capital Research and Management CompanySM
0.47%
27.04%
3.66%
7.26%
Global Equity
American Funds Global Growth Fund* - Class 1
Capital Research and Management CompanySM
0.40%
21.98%
8.51%
12.46%
US Equity
American Funds Growth Fund - Class 1
Capital Research and Management CompanySM
0.33%
20.54%
13.66%
18.26%
US Equity
American Funds Growth-Income Fund - Class 1
Capital Research and Management CompanySM
0.28%
18.37%
14.19%
14.20%
International Equity
American Funds New World Fund®* - Class 1
Capital Research and Management CompanySM
0.57%
28.60%
5.59%
9.53%
Global Equity
American Funds SMALLCAP World Fund®*†† -
Class 1
Capital Research and Management CompanySM
0.65%
14.89%
0.73%
7.50%
US Fixed Income
American Funds The Bond Fund of America* -
Class 1
Capital Research and Management CompanySM
0.22%
7.40%
0.10%
2.61%
US Fixed Income
American Funds U.S. Government Securities Fund*
- Class 1
Capital Research and Management CompanySM
0.25%
8.01%
0.01%
1.95%
US Fixed Income
American Funds Ultra-Short Bond Fund - Class 1
Capital Research and Management CompanySM
0.31%
4.15%
3.02%
1.96%
US Equity
Contrafund® Portfolio - Initial Class
Fidelity Management & Research Company LLC
0.54%
21.52%
15.37%
15.78%
US Equity
Equity-Income Portfolio - Initial Class
Fidelity Management & Research Company LLC
0.46%
19.02%
12.51%
11.60%
Target Date
Freedom 2010 Portfolio - Initial Class
Fidelity Management & Research Company LLC
0.38%
10.53%
3.15%
5.73%
Target Date
Freedom 2020 Portfolio - Initial Class
Fidelity Management & Research Company LLC
0.44%
13.33%
4.84%
7.38%
A-1
FUND
TYPE
PORTFOLIO AND
ADVISER/SUBADVISER
CURRENT
EXPENSES
AVERAGE ANNUAL
TOTAL RETURNS
(as of 12/31/2025)
1
YEAR
5
YEAR
10
YEAR
Target Date
Freedom 2030 Portfolio - Initial Class
Fidelity Management & Research Company LLC
0.49%
15.52%
6.25%
8.88%
Target Date
Freedom 2040 Portfolio - Initial Class
Fidelity Management & Research Company LLC
0.57%
18.79%
9.01%
10.87%
Target Date
Freedom 2050 Portfolio - Initial Class
Fidelity Management & Research Company LLC
0.60%
19.79%
9.43%
11.08%
Target Date
Freedom 2060 Portfolio - Initial Class
Fidelity Management & Research Company LLC
0.60%
19.83%
9.44%
 — 
US Equity
Index 500 Portfolio - Initial Class
Fidelity Management & Research Company LLC
Subadviser: Geode Capital Management, LLC
0.09%
17.78%
14.31%
14.70%
US Equity
MetLife Russell 2000® Index Portfolio - Class A
Brighthouse Investment Advisers, LLC
Subadviser: MetLife Investment Management,
LLC
0.30%
12.66%
5.99%
9.55%
US Equity
MFS® Growth Series* - Initial Class
Massachusetts Financial Services Company
0.73%
12.19%
11.10%
15.60%
US Equity
MFS® New Discovery Series* - Initial Class
Massachusetts Financial Services Company
0.87%
12.96%
-0.28%
10.74%
Allocation
MFS® Total Return Series* - Initial Class
Massachusetts Financial Services Company
0.61%
11.16%
6.42%
2.63%
US Equity
Mid Cap Portfolio - Initial Class
Fidelity Management & Research Company LLC
0.55%
11.75%
10.10%
10.59%
International Equity
State Street Emerging Markets Enhanced Index
Portfolio - Class A (formerly known as SSGA
Emerging Markets Enhanced Index Portfolio## -
Class A)
Brighthouse Investment Advisers, LLC
Subadviser: SSGA Funds Management, Inc.
0.55%
34.45%
6.31%
 — 
*
The Portfolio is subject to an expense reimbursement or fee waiver arrangement. The annual expenses shown reflect temporary fee reductions.
##
Effective April 28, 2025, the SSGA Emerging Markets Enhanced Index Portfolio II (formerly Brighthouse/abrdn Emerging Markets Equity Portfolio) of the Brighthouse Funds Trust I merged with and into the SSGA Emerging Markets Enhanced Index Portfolio of Brighthouse Funds Trust I. Values prior to April 28, 2025 reflect the performance of the SSGA Emerging Markets Enhanced Index Portfolio II.
††
Effective May 1, 2026, the American Funds Global Small Capitalization Fund changed its name to American Funds SMALLCAP World Fund®.
#
Effective May 15, 2026, the American Funds International Fund changed its name to American Funds EUPAC Fund.TM
The fee and expense information regarding the Portfolios was provided by those Portfolios.
A-2
 
 
To learn more about the Policy, you should read the Prospectus and SAI dated the same date as this Updating Summary Prospectus which are incorporated herein by reference and are legally a part of this Updating Summary Prospectus. They include additional information about the Policies and the Separate Account. You can find these documents on line at https://dfinview.com/metlife/PUFT/MET000219. The SAI is available, without charge, upon request. For a free copy of the Prospectus and SAI, to receive free personalized illustrations of death benefits and Cash Values, and to request other information about the Policy, please call (800) 756-6124, send an email request to [email protected] or write to us at our Administrative Office.
Managing your variable life policy just got easier. We’re excited to share our enhanced website with you. Login or register today at online.metlife.com and enjoy a more convenient way to manage your policy and sign-up for eDelivery!
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