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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/26/22 Brighthouse Separate Account A 497VPU 4/26/22 1:174K Donnelley … Solutions/FA → Brighthouse Separate Account A ⇒ Group Flexible Payment Variable Annuity (Flexible Bonus/Retirement Companion/Smart Choice) |
Document/Exhibit Description Pages Size 1: 497VPU Group Flexible Payment Variable Annuity HTML 82K
Group Flexible Payment Variable Annuity |
Fees and Expenses | Location
in Prospectus | ||||
Charges for Early Withdrawals | If
you withdraw money during the first 5 years following a Purchase Payment, you may be assessed a surrender charge of 7% of the Purchase
Payment withdrawn. However, surrender charges will not be deducted once 9 years have elapsed since your Certificate Date. For example, if you make an early withdrawal, you could pay a surrender charge of up to $7,000 on a $100,000 investment. |
Fee
Table and Examples Contract Charges – Surrender Charge | |||
Transaction Charges | In
addition to charges for early withdrawals, you may also be charged for other transactions. There may be charges for transferring cash value from any Series, taking a full or
partial surrender, annuitizing all or part of a Participant’s Account, or initiating a loan. There may also be taxes on Purchase
Payments. Transaction Charge for Transfers. Currently, we do not charge for transfers. However, we reserve the right to charge for transfers from any Series . |
Fee
Table and Examples Contract Charges |
Fees and Expenses | Location
in Prospectus | ||||
Ongoing Fees and Expenses (annual charges) | The table below describes the fees and expenses that you may pay each year, depending on the options you choose. Please refer to your Contract specifications page for information about the specific fees you will pay each year based on the options you have elected. | Fee
Table and Examples Contract Charges Appendix A: Funds Available Under the Contract | |||
Annual Fee | Minimum | Maximum | |||
Base Contract1 |
Flexible Bonus – 1.38% Smart Choice – 1.38% Retirement Companion – 1.34% |
Flexible
Bonus – 1.38% Smart Choice – 1.38% Retirement Companion – 1.34% | |||
Investment
options (Portfolio Company fees and expenses)2 |
0.10% |
0.95% | |||
1 As a percentage of average Participant’s
Account value in the Separate Account. The charge shown also includes the Administrative Charge. 2 As a percentage of Fund assets before temporary expense reimbursements and/or fee waivers. | |||||
Because your Contract is customizable, the choices you make affect how much you will pay. To help you understand the cost of owning your Contract, the following table shows the lowest and highest cost you could pay each year, based on current charges. This estimate assumes that you do not take withdrawals from the Contract, which could add surrender charges that substantially increase costs. | |||||
Flexible Bonus | |||||
Lowest
Annual Cost $1,365 |
Highest
Annual Cost $2,088 | ||||
Smart Choice | |||||
Lowest
Annual Cost $1,365 |
Highest
Annual Cost $2,088 | ||||
Retirement Companion | |||||
Lowest
Annual Cost $1,277 |
Highest
Annual Cost $2,006 | ||||
Assumes: | Assumes: | ||||
Investment
of $100,000 • 5% annual appreciation • Least expensive Portfolio Company fees and expenses • No additional Purchase Payments, transfers, or withdrawals |
Investment
of $100,000 • 5% annual appreciation • Most expensive Portfolio Company fees and expenses • No additional Purchase Payments, transfers, or withdrawals |
Risks | Location
in Prospectus | ||||
Risk of Loss | You can lose money by investing in this Contract including loss of principal. | Principal Risks of Investing in theContract | |||
Not a Short-Term Investment | •
This Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash. • Surrender charges may apply for the first 5 years of the Contract. Surrender charges will reduce the value of your Contract if you withdraw money during that time period. • The benefits of tax deferral also mean the Contract is more beneficial to investors with a long time horizon. |
Principal Risks of Investing in theContract | |||
Risks Associated with Investment Options | •
An investment in this Contract is subject to the risk of poor investment performance and can vary depending on the performance of the investment options available under the Contract (e.g., the Funds
). • Each investment option, including the General Account, has its own unique risks. • You should review the prospectuses for the available Funds and the Prospectus disclosure concerning the General Account before making an investment decision. |
Principal Risks of Investing in theContract | |||
Insurance Company Risks | An investment in the Contract is subject to the risks related to us. Any obligations (including under the General Account) and guarantees and benefits of the Contract that exceed the assets of the Separate Account are subject to our claims-paying ability. If we experience financial distress, we may not be able to meet our obligations to you. More information about BLIC, including our financial strength ratings, is available by contacting us at (888) 243-1968. | Principal Risks of Investing in theContract | |||
Restrictions | |||||
Investments | •
Currently, we allow unlimited transfers without charge among investment options during the accumulation phase. However, we reserve the right to impose a charge for transfers from any Series
. • Transfers from the General Account are subject to special limitations. • We reserve the right to limit transfers in circumstances of frequent or large transfers. • We reserve the right to remove or substitute the Funds available as investment options under the Contract. • Your Plan may limit your available Funds. |
Description of the Contracts | |||
Taxes | |||||
Tax Implications | •
Consult with a tax professional to determine the tax implications of an investment in and payments received under this Contract. • If you purchase the Contract through a tax-qualified plan or individual retirement account, you do not get any additional tax benefit. • You will generally not be taxed on increases in the value of the Contract until they are withdrawn. Withdrawals will be subject to ordinary income tax, and may be subject to tax penalties if you take a withdrawal before age 59 1⁄2. |
Federal Tax Considerations | |||
Conflicts of Interest | |||||
Investment
Professional Compensation |
Your investment professional may receive compensation for selling this Contract to you, in the form of commissions, additional cash benefits (e.g., bonuses), and non-cash compensation. This conflict of interest may influence your investment professional to recommend this Contract over another investment for which the investment professional is not compensated or compensated less. | Principal Underwriter |
Conflicts of Interest | Location
in Prospectus | ||||
Exchanges | If you already own an insurance contract, some investment professionals may have a financial incentive to offer you a new contract in place of the one you own. You should only exchange a contract you already own if you determine, after comparing the features, fees, and risks of both contracts, that it is better for you to purchase the new contract rather than continue to own your existing contract. | Principal Underwriter |
Investment Objectives | Portfolio
Company and Adviser/Sub-Adviser |
Current Expenses | Average
Annual Total Returns (as of 12/31/2021) | ||
1
Year |
5
Year |
10
Year | |||
Seeks long-term growth of capital. | American
Funds Global Small Capitalization Fund — Class 2# Capital Research and Management CompanySM |
0.90% | 6.74% | 15.45% | 12.51% |
Seeks growth of capital. | American
Funds Growth Fund — Class 2 Capital Research and Management CompanySM |
0.60% | 21.97% | 25.43% | 19.71% |
Seeks long-term growth of capital and income. | American
Funds Growth-Income Fund — Class 2 Capital Research and Management CompanySM |
0.54% | 24.10% | 16.39% | 15.42% |
Seeks long-term capital appreciation. | Brighthouse
Small Cap Value Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Delaware Investments Fund Advisers, a series of Macquarie Investment Management Business Trust, and Allspring Global Investments, LLC |
0.81% | 32.12% | 10.11% | 12.45% |
Seeks long-term growth of capital. | Invesco
Small Cap Growth Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Invesco Advisers, Inc. |
0.80% | 7.12% | 19.19% | 16.92% |
Seeks capital appreciation. | MFS
® Research International Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Massachusetts Financial Services Company |
0.64% | 11.98% | 12.58% | 8.72% |
Investment Objectives | Portfolio
Company and Adviser/Sub-Adviser |
Current Expenses | Average
Annual Total Returns (as of 12/31/2021) | ||
1
Year |
5
Year |
10
Year | |||
Seeks capital appreciation. | Morgan
Stanley Discovery Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Morgan Stanley Investment Management Inc. |
0.62% | -10.54% | 37.65% | 20.90% |
Seeks maximum total return, consistent with the preservation of capital and prudent investment management. | PIMCO
Total Return Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Pacific Investment Management Company LLC |
0.47% | -1.13% | 4.15% | 3.58% |
Seeks long-term capital appreciation by investing in common stocks believed to be undervalued. Income is a secondary objective. | T.
Rowe Price Large Cap Value Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: T. Rowe Price Associates, Inc. |
0.53% | 26.30% | 12.02% | 13.57% |
Seeks a competitive total return primarily from investing in fixed-income securities. | BlackRock
Bond Income Portfolio — Class A Brighthouse Investment Advisers, LLC Subadviser: BlackRock Advisors, LLC |
0.37% | -0.43% | 4.26% | 3.86% |
Seeks long-term growth of capital. | BlackRock
Capital Appreciation Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: BlackRock Advisors, LLC |
0.62% | 21.20% | 25.45% | 18.64% |
Seeks long-term capital growth. | Brighthouse/Artisan
Mid Cap Value Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Artisan Partners Limited Partnership |
0.75% | 26.91% | 10.32% | 11.00% |
Seeks to provide a growing stream of income over time and, secondarily, long-term capital appreciation and current income. | Brighthouse/Wellington
Core Equity Opportunities Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Wellington Management Company LLP |
0.60% | 24.43% | 16.62% | 14.75% |
Seeks to track the performance of the Bloomberg U.S. Aggregate Bond Index. | MetLife
Aggregate Bond Index Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: MetLife Investment Management, LCC |
0.27% | -1.93% | 3.32% | 2.64% |
Investment Objectives | Portfolio
Company and Adviser/Sub-Adviser |
Current Expenses | Average
Annual Total Returns (as of 12/31/2021) | ||
1
Year |
5
Year |
10
Year | |||
Seeks to track the performance of the Standard & Poor’s MidCap 400® Composite Stock Price Index. | MetLife
Mid Cap Stock Index Portfolio — Class A Brighthouse Investment Advisers, LLC Subadviser: MetLife Investment Management, LCC |
0.29% | 24.40% | 12.81% | 13.93% |
Seeks to track the performance of the MSCI EAFE® Index. | MetLife
MSCI EAFE® Index Portfolio — Class A Brighthouse Investment Advisers, LLC Subadviser: MetLife Investment Management, LCC |
0.38% | 10.72% | 9.38% | 7.84% |
Seeks to track the performance of the Russell 2000® Index. | MetLife
Russell 2000® Index Portfolio — Class A Brighthouse Investment Advisers, LLC Subadviser: MetLife Investment Management, LCC |
0.30% | 14.52% | 11.93% | 13.20% |
Seeks to track the performance of the Standard & Poor’s 500® Composite Stock Price Index. | MetLife
Stock Index Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: MetLife Investment Management, LCC |
0.26% | 28.36% | 18.18% | 16.26% |
Seeks a favorable total return through investment in a diversified portfolio. | MFS
® Total Return Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Massachusetts Financial Services Company |
0.59% | 14.22% | 9.89% | 9.68% |
Seeks capital appreciation. | MFS
® Value Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Massachusetts Financial Services Company |
0.57% | 25.54% | 12.51% | 13.70% |
Seeks high total return, consisting principally of capital appreciation. | Neuberger
Berman Genesis Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Neuberger Berman Investment Advisers LLC |
0.78% | 18.41% | 15.71% | 14.21% |
Seeks long-term growth of capital. | T.
Rowe Price Large Cap Growth Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: T. Rowe Price Associates, Inc. |
0.57% | 20.22% | 23.39% | 19.26% |
Seeks long-term capital growth. | T.
Rowe Price Small Cap Growth Portfolio — Class A Brighthouse Investment Advisers, LLC Subadviser: T. Rowe Price Associates, Inc. |
0.49% | 11.67% | 16.25% | 15.90% |
Investment Objectives | Portfolio
Company and Adviser/Sub-Adviser |
Current Expenses | Average
Annual Total Returns (as of 12/31/2021) | ||
1
Year |
5
Year |
10
Year | |||
Seeks to maximize total return consistent with preservation of capital. | Western
Asset Management Strategic Bond Opportunities Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Western Asset Management Company LLC |
0.54% | 2.82% | 5.55% | 5.21% |
Seeks long-term growth of capital. | DWS
CROCI® International VIP — Class A# DWS Investment Management Americas, Inc. |
0.86% | 9.24% | 7.34% | 5.67% |
Seeks to obtain high total return with reduced risk over the long term by allocating its assets among stocks, bonds, and short-term instruments. | Asset
Manager Portfolio — Initial Class Fidelity Management & Research Company LLC Subadviser: FMR UK, FMR HK, and FMR Japan |
0.59% | 9.92% | 10.01% | 8.65% |
Seeks long-term capital appreciation. | Contrafund
® Portfolio — Initial Class Fidelity Management & Research Company LLC Subadviser: FMR UK, FMR HK, and FMR Japan |
0.60% | 27.83% | 20.17% | 16.64% |
Seeks as high a level of current income as is consistent with preservation of capital and liquidity. | Government
Money Market Portfolio — Initial Class Fidelity Management & Research Company LLC Subadviser: FMR UK, FMR HK, and FMR Japan |
0.23% | 0.01% | 0.93% | 0.51% |
Seeks to achieve capital appreciation. | Growth
Portfolio — Initial Class Fidelity Management & Research Company LLC Subadviser: FMR UK, FMR HK, and FMR Japan |
0.61% | 23.21% | 26.29% | 19.70% |
Seeks investment results that correspond to the total return of common stocks publicly traded in the United States, as represented by the S&P 500® Index. | Index
500 Portfolio — Initial Class†† Fidelity Management & Research Company LLC Subadviser: Geode Capital Management, LLC |
0.10% | 28.58% | 18.34% | 16.44% |
Seeks long-term growth of capital. | Overseas
Portfolio — Initial Class Fidelity Management & Research Company LLC Subadviser: FMR UK, FMR HK, FMR Japan, FIA, FIA(UK), and FIJ |
0.77% | 19.70% | 14.40% | 10.83% |
Seeks long-term capital growth through investments in stocks. | T.
Rowe Price Growth Stock Fund, Inc. T. Rowe Price Associates, Inc. |
0.63% | 20.03% | 23.25% | 19.13% |
Seeks long-term capital appreciation. | Alger
Small Cap Growth Portfolio — Class I-2 Fred Alger Management, LLC |
0.95% | -6.06% | 21.54% | 15.24% |
# | Certain Funds and their investment advisers have entered into temporary expense reimbursements and/or fee waivers, which are reflected in the Current Expenses. Please see the Funds' prospectuses for additional information regarding these arrangements. |
†† | Closed to new investments except under dollar cost averaging and rebalancing programs in existence at the time of closing. |
This ‘497VPU’ Filing | Date | Other Filings | ||
---|---|---|---|---|
4/29/22 | 485BPOS | |||
Filed on / Effective on: | 4/26/22 | 497VPI, 497VPU | ||
4/30/21 | 485BPOS, 497 | |||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/18/22 Brighthouse Separate Account A 485BPOS 4/29/22 10:2.4M Donnelley … Solutions/FA |