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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/15/21 Brighthouse Separate Account A 485BPOS 4/30/21 3:1.8M Donnelley … Solutions/FA → Brighthouse Separate Account A ⇒ PrimElite IV |
Document/Exhibit Description Pages Size 1: 485BPOS Primelite Iv Post-Effective Amendment No. 8 HTML 761K 2: EX-99.L Consent of Independent Registered Public HTML 5K Accounting Firm (Deloitte & Touche LLP 3: EX-99.P Powers of Attorney HTML 111K
PrimElite IV Post-Effective Amendment No. 8 |
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | |
Pre-Effective Amendment No. | □ |
Post-Effective Amendment No. 8 | ☒ |
and | |
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | |
Amendment No. 732 | ☒ |
□ | immediately upon filing pursuant to paragraph (b) of Rule 485. |
☒ | on April 30, 2021 pursuant to paragraph (b) of Rule 485. |
□ | 60 days after filing pursuant to paragraph (a)(1) of Rule 485. |
□ | on (date) pursuant to paragraph (a)(1) of Rule 485. |
□ | this post-effective amendment designates a new effective date for a previously filed post-effective amendment. |
1. | Non-Qualified Contract |
2. | Premium Taxes |
3. | Puerto Rico Tax Considerations |
• | are not bank deposits |
• | are not FDIC insured |
• | are not insured by any federal government agency |
• | are not guaranteed by any bank or credit union |
• | may be subject to loss of principal |
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A-1 |
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A-1 |
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B-1 |
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B-1 |
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C-1 |
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D-1 |
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D-1 |
Fees and Expenses | Location
in Prospectus | ||||
Charges for Early Withdrawals | If
you withdraw money during the first 8 full Contract Years following a Purchase Payment, you may be assessed a withdrawal charge of up to 8% of the Purchase Payment withdrawn, declining to 0% over that time period. For example, if you make an early withdrawal, you could pay a withdrawal charge of up to $8,000 on a $100,000 investment. |
Fee
Table and Examples Expenses – Withdrawal Charge | |||
Transaction Charges | In
addition to withdrawal charges, you also may be charged for the following transactions: transfers of cash value between investment options, which include the Investment Portfolios and the Fixed Account. Transfer Fee. Currently, we allow unlimited transfers among the investment options without charge. However, we reserve the right to charge for transfers after the first 12 transfers per year. |
Fee
Table and Examples Expenses – Transfer Fee |
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 Expenses– Product Charges Appendix A: Investment PortfoliosAvailable Under the Contract | |||
Annual Fee | Minimum | Maximum | |||
Base Contract1 |
1.38% |
1.38% | |||
Investment
options (Portfolio Company fees and expenses)2 |
0.54% |
1.29% | |||
Optional benefits available for an additional charge (for a single optional benefit, if elected) |
0.15%3 |
1.55% 4 | |||
1 As a percentage of Account Value in the Separate Account. The charge shown also includes the Account
Fee. 2 As a percentage of fund assets. 3 As a percentage of average Account Value in the Separate Account. This charge is the current charge for the least expensive optional benefit. 4 As a percentage of the Total Guaranteed Withdrawal Amount, which is a value used to calculate your benefit. This charge is the current charge for the most expensive optional benefit. | |||||
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 withdrawal charges that substantially increase costs. | |||||
Lowest
Annual Cost $1,930 |
Highest
Annual Cost $4,870 | ||||
Assumes: | Assumes: | ||||
•
Investment of $100,000 • 5% annual appreciation • Least expensive Portfolio Company fees and expenses • No optional benefits • No additional purchase payments, transfers, or withdrawals |
•
Investment of $100,000 • 5% annual appreciation • Most expensive combination of optional benefits and 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 | |||
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. Withdrawal charges may apply for the first 8 years of the Contract. Withdrawal charges will reduce the value of your Contract if you withdraw money during that time. The benefits of tax deferral and living benefit protection also mean the Contract is more beneficial to investors with a long time horizon. |
Principal Risks | |||
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., Portfolio Companies). • Each investment option, including the Fixed Account, has its own unique risks. • You should review the prospectuses for the available funds and the prospectus disclosure concerning the Fixed Account before making an investment decision. |
Principal Risks | |||
Insurance Company Risks | An investment in the Contract is subject to the risks related to us. Any obligations (including under the Fixed Account), or 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 | |||
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 in excess of 12 per year. • We reserve the right to limit transfers in circumstances of frequent or large transfers. • We reserve the right to remove or substitute the Portfolio Companies available as investment options under the Contract. |
Investment Options | |||
Optional Benefits | •
Certain optional benefits could limit subsequent Purchase Payments. • Withdrawals may reduce the value of an optional benefit by an amount greater than the value withdrawn, which could significantly reduce the value or even terminate the benefit. • We may stop offering an optional benefit at any time for new sales. |
Purchase
– Investment Allocation Restrictions for Certain Riders Living Benefits | |||
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 Income Tax Status |
Conflicts of Interest | Location
in Prospectus | ||||
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. | Other Information – Distributor | |||
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. | Replacement of Contracts and Other Exchanges |
• | Dollar Cost Averaging Program. This program allows you to systematically transfer a set amount each month between certain Investment Portfolios and the Fixed Account. |
• | Automatic Rebalancing Program. This program directs us to automatically rebalance your Contract to return to your original percentage investment allocations on a periodic basis. |
• | Systematic Withdrawal Program. This program allows you to receive regular automatic withdrawals from your Contract either monthly or quarterly, and after the first Contract Year, annually or semi-annually, provided that each payment must amount to at least $100 (unless we consent otherwise). |
• | Electronic Delivery. As an Owner you may elect to receive electronic delivery of current prospectuses related to this Contract, as well as other Contract related documents. |
Withdrawal
Charge (Note 1) (as a percentage of Purchase Payments) |
8% |
Transfer Fee (Note 2) | $25
$0 (First 12 per year) |
Number
of Complete Years from Receipt of Purchase Payment |
Withdrawal
Charge (% of Purchase Payment) | |
0 | 8 | |
1 | 8 | |
2 | 7 | |
3 | 6 | |
4 | 5 | |
5 | 4 | |
6 | 3 | |
7 | 2 | |
8 and thereafter | 0 |
Annual Contract Expenses | |
Administrative Expenses (Note 1) | $30 |
Base Contract Expenses (Note 2) | 1.35% |
(as a percentage of average Account Value) | |
Optional Benefit Expenses (Note 3, Note 4) | |
Optional Death Benefit — Annual Step-Up (as a percentage of average Account Value) | 0.15% |
Additional Death Benefit — Earnings Preservation Benefit | 0.25% |
(as a percentage of average Account Value) | |
Lifetime Withdrawal Guarantee Rider Charges | |
(as a percentage of the Total Guaranteed Withdrawal Amount (Note 5)) | |
(Single Life Version) – maximum charge | 1.60% |
(Single Life Version) – current charge | 1.40% |
(Joint Life Version) – maximum charge | 1.80% |
(Joint Life Version) – current charge | 1.55% |
Guaranteed Withdrawal Benefit I Rider Charge | |
(as a percentage of the Guaranteed Withdrawal Amount) (Note 6) | |
Guaranteed Withdrawal Benefit I (GWB I) | 0.25% |
Minimum | Maximum | |
Total Annual Investment Portfolio Expenses | ||
(expenses that are deducted from Investment Portfolio assets, including management fees, distribution and/or service (12b-1) fees, and other expenses) | 0.54% | 1.29% |
Time Periods | ||||
1 year | 3 years | 5 years | 10 years | |
maximum | $12,870 | $21,136 | $29,695 | $52,924 |
minimum | $12,130 | $18,964 | $26,166 | $46,383 |
Time Periods | ||||
1 year | 3 years | 5 years | 10 years | |
maximum | $4,870 | $14,836 | $25,195 | $52,924 |
minimum | $4,130 | $12,664 | $21,666 | $46,383 |
Time Periods | ||||
1 year | 3 years | 5 years | 10 years | |
maximum | $10,670 | $14,438 | $18,366 | $29,413 |
minimum | $ 9,930 | $12,208 | $14,636 | $21,909 |
Time Periods | ||||
1 year | 3 years | 5 years | 10 years | |
maximum | $2,670 | $8,138 | $13,866 | $29,413 |
minimum | $1,930 | $5,908 | $10,136 | $21,909 |
• | The minimum initial Purchase Payment we will accept is $5,000. The selling firm with which your financial representative is associated may require a different amount. |
• | The maximum total Purchase Payments for the contract is $1,000,000, without prior approval from us. |
• | The minimum subsequent Purchase Payment is $500 unless you have elected an electronic funds transfer program approved by us, in which case the minimum subsequent Purchase Payment is $100 per month. |
• | You are required to estimate on the application the total Purchase Payments you intend to make in the first contract year. This estimate will determine the Mortality and Expense charge you pay during the first contract year. At the first contract anniversary, the Mortality and Expense charge may be increased if you do not reach your Purchase Payment estimate. Also, additional Purchase Payments in excess of your estimate and additional Purchase Payments after the first contract year will not lower your Mortality and Expense charge. Please see “Expenses — Product Charges — How to Reduce the Mortality and Expense Charge” for more information. (This requirement does not apply to applications in Oregon.) |
• | We will accept a different amount if required by federal tax law. |
• | We reserve the right to refuse Purchase Payments made via a personal check in excess of $100,000. Purchase Payments over $100,000 may be accepted in other forms, including, but not limited to, EFT/wire transfers, certified checks, corporate checks, and checks written on financial institutions. The form in which we receive a Purchase Payment may determine how soon subsequent disbursement requests may be fulfilled. (See “Access to Your Money.”) |
• | We will not accept Purchase Payments made with cash, money orders, or travelers checks. |
• | We reserve the right to reject any Purchase Payment and to limit future Purchase Payments. This means that we may restrict your ability to make subsequent Purchase Payments for any reason, subject to applicable requirements in your state. We may make certain exceptions to restrictions on subsequent Purchase Payments in accordance with our established administrative procedures. |
• | the credited interest rate on the Fixed Account is equal to the guaranteed minimum rate indicated in your contract; or |
• | your Account Value in the Fixed Account equals or exceeds our published maximum for Fixed Account allocation (currently, there is no limit; we will notify you of any such maximum allocation limit); or |
• | a transfer was made out of the Fixed Account within the previous 180 days. |
• | Your request for transfer must clearly state which Investment Portfolio(s) or the Fixed Account are involved in the transfer. |
• | Your request for transfer must clearly state how much the transfer is for. |
• | The minimum amount you can transfer is $500 from an Investment Portfolio, or your entire interest in the Investment Portfolio, if less (this does not apply to pre-scheduled transfer programs). |
• | The minimum amount that may be transferred from the Fixed Account is $500, or your entire interest in the Fixed Account. Transfers out of the Fixed Account during the Accumulation Phase are limited to the greater of: (a) 25% of the Fixed Account value at the beginning of the Contract Year, or (b) the amount transferred out of the Fixed Account in the prior Contract Year. Currently we are not imposing these restrictions on transfers out of the Fixed Account, but we have the right to reimpose them at any time. You should be aware that, if transfer restrictions are imposed, it may take a while (even if you make no additional Purchase Payments or transfers into the Fixed Account) to make a complete transfer of your Account Value from the Fixed Account. When deciding whether to invest in the Fixed Account it is important to consider whether the transfer restrictions fit your risk tolerance and time horizon. |
• | You may not make a transfer to more than 18 Investment Portfolios (including the Fixed Account) at any time if the request is made by telephone to our voice response system or by Internet. A request to transfer to more than 18 Investment Portfolios (including the Fixed Account) may be made by calling or writing our Annuity Service Center. |
• | the credited interest rate on the Fixed Account is equal to the guaranteed minimum rate indicated in your contract; or |
• | your Account Value in the Fixed Account equals or exceeds our published maximum for Fixed Account allocation (currently, there is no limit; we will notify you of any such maximum allocation limit); or |
• | a transfer was made out of the Fixed Account within the previous 180 days. |
Estimated/Total
Purchase Payments in First Contract Year |
Mortality
and Expense Charge | |
$0 - 99,999 | 1.20% | |
$100,000 - 249,999 | 1.05% | |
$250,000 - 499,999 | 0.95% | |
$500,000 or more | 0.80% |
Annual Step-Up Death Benefit | 0.15% |
Additional Death Benefit–Earnings Preservation Benefit | 0.25% |
Number
of Complete Years from Receipt of Purchase Payment |
Withdrawal
Charge (% of Purchase Payment) | |
0 | 8 | |
1 | 8 | |
2 | 7 | |
3 | 6 | |
4 | 5 | |
5 | 4 | |
6 | 3 | |
7 | 2 | |
8 and thereafter | 0 |
• | fixed Annuity Payments, or |
• | variable Annuity Payments, or |
• | a combination of both. |
• | The dollar amount of the first variable Annuity Payment is divided by the value of an Annuity Unit for each applicable Investment Portfolio as of the annuity calculation date. This establishes the number of Annuity Units for each payment. The number of Annuity Units for each applicable Investment Portfolio remains fixed during the annuity period, provided that transfers among the Investment Portfolios will be made by converting the number of Annuity Units being transferred to the number of Annuity Units of the Investment Portfolio to which the transfer is made, and the number of Annuity Units will be adjusted for transfers to a fixed Annuity Option. Please see the |
Statement of Additional Information for details about making transfers during the Annuity Phase. | |
• | The fixed number of Annuity Units per payment in each Investment Portfolio is multiplied by the Annuity Unit value for that Investment Portfolio for the Business Day for which the Annuity Payment is being calculated. This result is the dollar amount of the payment for each applicable Investment Portfolio, less any account fee. The account fee will be deducted pro rata out of each Annuity Payment. |
• | The total dollar amount of each variable Annuity Payment is the sum of all Investment Portfolio variable Annuity Payments. |
• | less any applicable withdrawal charge; |
• | less any premium or other tax; |
• | less any account fee; and |
• | less any applicable pro rata GWB rider charge. |
• | You must submit a request to our Annuity Service Center. (See “Other Information — Requests and Elections.”) |
• | If you would like to have the withdrawal charge waived under the Nursing Home or Hospital Confinement Rider or the Terminal Illness Rider, you must provide satisfactory evidence of confinement to a nursing home or hospital or terminal illness. (See “Expenses — Reduction or Elimination of the Withdrawal Charge.”) |
• | You must state in your request whether you would like to apply the proceeds to a payment option (otherwise you will receive the proceeds in a lump sum and may be taxed on them). |
• | We have to receive your withdrawal request in our Annuity Service Center prior to the Annuity Date or Owner's death; provided, however, that you may submit a written withdrawal request any time prior to the Annuity Date that indicates that the withdrawal should be processed as of the Annuity Date. Solely for the purpose of calculating and processing such a withdrawal request, the request will be deemed to have been received on, and the withdrawal amount will be priced according to the Accumulation Unit value calculated as of, the Annuity Date. Your request must be received at our Annuity Service Center on or before the Annuity Date. |
• | the New York Stock Exchange is closed (other than customary weekend and holiday closings); |
• | trading on the New York Stock Exchange is restricted; |
• | an emergency exists, as determined by the Securities and Exchange Commission, as a result of which disposal of shares of the Investment Portfolios is not reasonably practicable or we cannot reasonably value the shares of the Investment Portfolios; or |
• | during any other period when the Securities and Exchange Commission, by order, so permits for the protection of Owners. |
Name of Benefit | Purpose | Standard
or Optional |
Maximum
Annual Fee |
Current
Charges |
Brief
Description of Restrictions / Limitations |
Dollar Cost Averaging Program | Allows you to systematically transfer a set amount each month from Investment Portfolios or the Fixed Account to other available Investment Portfolios | Standard | No Charge | N/A | •
Available only during the Accumulation phase • Transfers only available from the Fixed Account or the BlackRock Ultra-Short Term Bond Portfolio |
Automatic Rebalancing Program | Allows us to automatically rebalance your Account Value to return to your original percentage allocations | Standard | No Charge | N/A | •
Available only during the Accumulation phase |
Systematic Withdrawal Program | Allows you to set up an automatic payment of up to 10% of your total Purchase Payments each year | Standard | No Charge | N/A | •
Each payment must be at least $100 (unless we consent otherwise). • In the first Contract Year, only monthly or quarterly payments are allowed. |
Nursing Home or Hospital Confinement Rider | Allows you to withdraw Account Value without a withdrawal charge | Standard | No Charge | N/A | •
Must own contract for at least one year • You or your joint owner must be confined for at least 90 days • Confinement must be prescribed by a physician and be medically necessary • Terminates on Annuity Date • Not available for owners 81 or older on the contract issue date • Not available in Massachusetts or South Dakota |
Name of Benefit | Purpose | Standard
or Optional |
Maximum
Annual Fee |
Current
Charges |
Brief
Description of Restrictions / Limitations |
Terminal Illness Rider | Allows you to withdraw Account Value without a withdrawal charge | Standard | No Charge | N/A | •
Must own contract for at least one year to incur no withdrawal charge • Must be terminally ill and not expected to live more than 12 months; a physician certifies to your illness and life expectancy; you were not diagnosed with the terminal illness as of the date we issued your contract; and you have been the Owner continuously since the contract was issued (or have become the Owner as the spousal Beneficiary who continues the contract) • Terminates on Annuity Date • Not available for owners 81 or older on the contract issue date • Not available in Massachusetts |
Standard Death Benefit – Principal Protection | Pays a minimum death benefit at least equal to the greater of the Account Value or total Purchase Payments adjusted for any withdrawals | Standard | No Charge | N/A | • Withdrawals may proportionately reduce the benefit, and such reductions could be significant |
Annual Step-Up Death Benefit (no longer available) | Pays a death benefit equal to the greater of your Account Value, your total Purchase Payments adjusted for any withdrawals, or your highest Account Value on a Contract Anniversary | Optional | 0.15% of average daily net asset value of each Investment Portfolio | 0.15% of average daily net asset value of each Investment Portfolio | •
Must be 79 or younger at the effective date of your contract • Withdrawals may proportionately reduce the benefit, and such reductions could be significant |
Death Benefit – Earnings Preservation Benefit (no longer available) | Pays an additional death benefit that is intended to help pay part of the income taxes due at the time of death of the Owner or Joint Owner | Optional | 0.25% of average daily net asset value of each Investment Portfolio | 0.25% of average daily net asset value of each Investment Portfolio | •
Must be 79 or younger at the effective date of your contract • This benefit may not be available for qualified plans • Not available in Washington |
Name of Benefit | Purpose | Standard
or Optional |
Maximum
Annual Fee |
Current
Charges |
Brief
Description of Restrictions / Limitations |
Lifetime Withdrawal Guarantee (no longer available) | Guarantees income for life, or at least the entire amount of Purchase Payments you make will be returned to you through a series of withdrawals regardless of investment performance | Optional | 1.60%
of the Total Guaranteed Withdrawal Amount for single life version 1.80% of the Total Guaranteed Withdrawal Amount for joint life version |
1.40%
of the Total Guaranteed Withdrawal Amount for single life version 1.55% of the Total Guaranteed Withdrawal Amount for joint life version |
•
Guarantees income for life, subject to conditions, provided your first withdrawal is on or after the date you reach age 59 1⁄2 • You may elect to cancel the rider on the contract anniversary every five Contract Years for the first 15 Contract Years and annually thereafter • Additional restrictions on Purchase Payments may apply • Certain withdrawals could significantly reduce or even terminate the benefit |
Guaranteed Withdrawal Benefit I (GWB I) (no longer available) | Guarantees that at least the entire amount of Purchase Payments you make will be returned to you through a series of withdrawals regardless of investment performance | Optional | 0.25% of the Guaranteed Withdrawal Amount | 0.25% of the Guaranteed Withdrawal Amount | •
Certain withdrawals could significantly reduce or even terminate the benefit • Additional restrictions on Purchase Payments may apply • Starting with the third contract anniversary, you may elect the Optional Reset feature once every contract anniversary prior to the 86th birthday of the Owner provided that it has been at least three contract anniversaries since the last reset |
• | the Lifetime Withdrawal Guarantee |
• | the Guaranteed Withdrawal Benefit I (GWB I) |
• | If the Lifetime Withdrawal Guarantee is in effect, the Total Guaranteed Withdrawal Amount will not decrease due to withdrawals that do not exceed the maximum amount allowed in any Contract Year. Withdrawals that exceed the maximum amount allowed in |
any Contract Year may decrease the Total Guaranteed Withdrawal Amount. | |
• | If the GWB I rider is in effect, the Guaranteed Withdrawal Amount will not decrease due to withdrawals. |
• | resets the Total Guaranteed Withdrawal Amount and the Remaining Guaranteed Withdrawal Amount to the Account Value on the date of the step-up, up to a maximum of $5,000,000; |
• | resets the Annual Benefit Payment equal to the Withdrawal Rate (see “Annual Benefit Payment” below) multiplied by the Total Guaranteed Withdrawal Amount after the step-up; and |
• | may reset the Lifetime Withdrawal Guarantee rider charge to a rate that does not exceed the lower of: (a) the maximum rider charge applicable to your version of the Lifetime Withdrawal Guarantee or (b) the current rate that we would charge for the same rider available for new contract purchases at the time of the step-up. |
• | If you take your first withdrawal before the date you reach age 59 1⁄2, we will continue to pay the Annual Benefit Payment each year until the Remaining Guaranteed Withdrawal Amount is depleted, even if your Account Value declines to zero due to market performance, so long as you do not take Excess Withdrawals; however, you will not be guaranteed income for the rest of your life. |
• | If you take your first withdrawal on or after the date you reach age 59 1⁄2, we will continue to pay the Annual Benefit Payment each year for the rest of your life (and the life of your spouse, if the Joint Life version of the Lifetime Withdrawal Guarantee rider was elected, and your spouse elects to continue the contract and is at least age 59 1⁄2 at continuation), even if your Remaining Guaranteed Withdrawal Amount and/or Account Value declines to zero. |
• | Your initial Purchase Payment; |
• | Increased by each subsequent Purchase Payment made; |
• | Less the amount of any withdrawals; provided, however, that if a withdrawal from your contract is not payable to the contract Owner or contract Owner's bank account (or to the Annuitant or Annuitant's bank account, if the Owner is a non-natural person), or results in cumulative withdrawals (including any applicable withdrawal charge) for the current Contract Year exceeding the Annual Benefit Payment, and the resulting Benefit Base exceeds the Account Value, an additional reduction in the Benefit Base will be made. This additional reduction will be equal to the difference between the Benefit Base after the decrease for the |
withdrawal and your Account Value after the decrease for the withdrawal. |
• | Subsection (2) is changed to provide: “The Account Value as of the effective date of the change of Owner, increased by Purchase Payments received after the date of change of Owner, and reduced proportionately by the percentage reduction in Account Value attributable to each partial withdrawal (including any applicable withdrawal charge) made after such date”; and |
• | For subsection (3), the highest anniversary value will be recalculated to equal your Account Value as of the effective date of the change of Owner. Thereafter, the highest anniversary value (as recalculated) will be increased by subsequent Purchase Payments and reduced proportionately by the percentage reduction in Account Value attributable to each subsequent partial withdrawal (including any applicable withdrawal charge). On each contract anniversary prior to the Owner's 81st birthday, the highest anniversary value will be recalculated and set equal to the greater of the highest anniversary value before the recalculation or the Account Value on the date of the recalculation. |
Benefit Percentage | ||
Issue Age | Percentage | |
Ages 69 or younger | 40% | |
Ages 70-79 | 25% |
• | The imposition of a 10% federal income tax penalty on the taxable amount of the commuted value, if the taxpayer has not attained age 59 1⁄2 at the time the |
withdrawal is made. This 10% federal income tax penalty is in addition to the ordinary income tax on the taxable amount of the commuted value. | |
• | The retroactive imposition of the 10% federal income tax penalty on income payments received prior to the taxpayer attaining age 59 1⁄2. |
• | The possibility that the exercise of the commutation feature could adversely affect the amount excluded from federal income tax under any income payments made after such commutation. |
(a) | related to Purchase Payments made prior to 1989 and pre-1989 earnings on those Purchase Payments; |
(b) | is exchanged to another permissible investment under your 403(b) plan; |
(c) | relates to contributions to an annuity contract that are not salary reduction elective deferrals, if your plan allows it; |
(d) | occurs after you die, leave your job or become disabled (as defined by the Code); |
(e) | is for financial hardship (but only to the extent of elective deferrals), if your plan allows it; |
(f) | relates to distributions attributable to certain TSA plan terminations, if the conditions of the Code are met; |
(g) | relates to rollover or after-tax contributions; or |
(h) | is for the purchase of permissive service credit under a governmental defined benefit plan. |
• | Through your financial representative |
• | By telephone at (888) 243-1932, between the hours of 7:30AM and 5:30PM Central Time Monday through Friday |
• | In writing to our Annuity Service Center |
• | By fax at
Brighthouse Policy Holder Services, (877) 246-8424 or |
• | By Internet at www.brighthousefinancial.com |
• | change the Beneficiary. |
• | change the Annuitant before the Annuity Date (subject to our underwriting and administrative rules). |
• | assign the contract (subject to limitation). |
• | change the payment option. |
• | exercise all other rights, benefits, options and privileges allowed by the contract or us. |
Investment Objectives | Portfolio
Company and Adviser/Sub-Adviser |
Current Expenses | Average
Annual Total Returns (as of 12/31/2020) | ||
1
Year |
5
Year |
10
Year | |||
Seeks both capital appreciation and current income. | Invesco
V.I. Equity and Income Fund — Series II# Invesco Advisers, Inc. |
0.82% | 9.65% | 8.61% | 8.29% |
Seeks long-term growth of capital. | Invesco
V.I. International Growth Fund — Series II Invesco Advisers, Inc. |
1.17% | 13.74% | 8.55% | 6.46% |
Seeks capital appreciation. | Invesco
V.I. Main Street Small Cap Fund® — Series II# Invesco Advisers, Inc. |
1.05% | 19.63% | 12.59% | 11.85% |
Seeks long-term growth of capital. | American
Funds Global Growth Fund — Class 2 Capital Research and Management CompanySM |
0.81% | 30.47% | 16.26% | 12.86% |
Seeks long-term growth of capital. | American
Funds Global Small Capitalization Fund — Class 2 Capital Research and Management CompanySM |
0.99% | 29.72% | 14.43% | 9.43% |
Seeks growth of capital. | American Funds Growth Fund — Class 2†† | 0.61% | 52.10% | 22.75% | 16.85% |
Seeks long-term growth of capital and income. | American
Funds Growth-Income Fund — Class 2 Capital Research and Management CompanySM |
0.55% | 13.54% | 13.93% | 12.74% |
Seeks as high a level of current income as is consistent with the preservation of capital. | American
Funds The Bond Fund of America — Class 2# Capital Research and Management CompanySM |
0.46% | 9.73% | 4.92% | 3.92% |
Seeks to achieve growth of capital. | American
Funds® Growth Portfolio — Class C Brighthouse Investment Advisers, LLC; Capital Research and Management CompanySM |
0.92% | 51.63% | 22.37% | 16.48% |
Investment Objectives | Portfolio
Company and Adviser/Sub-Adviser |
Current Expenses | Average
Annual Total Returns (as of 12/31/2020) | ||
1
Year |
5
Year |
10
Year | |||
Seeks to maximize total return, consistent with income generation and prudent investment management. | BlackRock
High Yield Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: BlackRock Financial Management, Inc. |
0.91% | 7.51% | 8.05% | 6.65% |
Seeks capital appreciation. | Brighthouse/Aberdeen
Emerging Markets Equity Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Aberdeen Asset Managers Limited |
1.19% | 27.30% | 13.55% | 3.40% |
Seeks total return through investment in real estate securities, emphasizing both capital appreciation and current income. | Clarion
Global Real Estate Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: CBRE Clarion Securities LLC |
0.89% | -5.02% | 3.88% | 5.23% |
Seeks long-term capital appreciation. | Harris
Oakmark International Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Harris Associates L.P. |
1.01% | 5.12% | 7.02% | 6.21% |
Seeks capital growth and income. | Invesco
Comstock Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Invesco Advisers, Inc. |
0.84% | -0.51% | 8.62% | 9.40% |
Seeks capital appreciation. | Invesco Global Equity Portfolio — Class B†† | 0.82% | 27.58% | 14.84% | 11.55% |
Seeks long-term growth of capital. | Invesco
Small Cap Growth Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Invesco Advisers, Inc. |
1.06% | 56.76% | 19.89% | 15.72% |
Seeks high total investment return through a combination of capital appreciation and income. | Loomis
Sayles Global Allocation Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Loomis, Sayles & Company, L.P. |
1.03% | 14.79% | 12.28% | 9.69% |
Seeks long-term growth of capital. | Loomis
Sayles Growth Portfolio — Class A† Brighthouse Investment Advisers, LLC Subadviser: Loomis, Sayles & Company, L.P. |
0.57% | 32.54% | 13.33% | 14.42% |
Seeks long-term growth of capital. | Loomis Sayles Growth Portfolio — Class B†† | 0.82% | 32.23% | 13.05% | 14.14% |
Investment Objectives | Portfolio
Company and Adviser/Sub-Adviser |
Current Expenses | Average
Annual Total Returns (as of 12/31/2020) | ||
1
Year |
5
Year |
10
Year | |||
Seeks capital appreciation. | MFS
® Research International Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Massachusetts Financial Services Company |
0.89% | 13.02% | 9.64% | 6.05% |
Seeks capital appreciation. | Morgan
Stanley Discovery Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Morgan Stanley Investment Management Inc. |
0.88% | 153.11% | 37.99% | 21.11% |
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 E# Brighthouse Investment Advisers, LLC Subadviser: T. Rowe Price Associates, Inc. |
0.68% | 3.00% | 10.01% | — |
Seeks high total return by investing in equity securities of mid-sized companies. | Victory
Sycamore Mid Cap Value Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Victory Capital Management Inc. |
0.85% | 7.64% | 9.54% | 8.52% |
Seeks a competitive total return primarily from investing in fixed-income securities. | BlackRock
Bond Income Portfolio — Class B Brighthouse Investment Advisers, LLC Subadviser: BlackRock Advisors, LLC |
0.64% | 8.34% | 4.73% | 4.31% |
Seeks long-term growth of capital. | BlackRock Capital Appreciation Portfolio — Class A†† | 0.63% | 40.66% | 20.74% | 15.29% |
Seeks a high level of current income consistent with prudent investment risk and preservation of capital. | BlackRock
Ultra-Short Term Bond Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: BlackRock Advisors, LLC |
0.61% | 0.19% | 0.87% | 0.43% |
Seeks a high level of current income consistent with prudent investment risk and preservation of capital. | BlackRock Ultra-Short Term Bond Portfolio — Class E†† | 0.51% | 0.29% | 0.97% | 0.48% |
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†† | 0.61% | 11.27% | 13.22% | 11.80% |
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 B# Brighthouse Investment Advisers, LLC Subadviser: Wellington Management Company LLP |
0.86% | 10.97% | 12.94% | 11.53% |
Seeks long-term growth of capital. | Jennison Growth Portfolio — Class B†† | 0.79% | 56.37% | 23.20% | 18.37% |
Investment Objectives | Portfolio
Company and Adviser/Sub-Adviser |
Current Expenses | Average
Annual Total Returns (as of 12/31/2020) | ||
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†† | 0.55% | 6.92% | 6.71% | 5.55% |
Seeks to maximize total return consistent with preservation of capital. | Western
Asset Management Strategic Bond Opportunities Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Western Asset Management Company |
0.80% | 6.61% | 6.44% | 5.29% |
Seeks to maximize total return consistent with preservation of capital and maintenance of liquidity. | Western
Asset Management U.S. Government Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Western Asset Management Company |
0.73% | 4.91% | 2.80% | 2.41% |
Seeks long-term capital appreciation. | Contrafund ® Portfolio — Service Class†† | 0.71% | 30.43% | 16.07% | 13.40% |
Seeks long-term capital appreciation. | Contrafund
® Portfolio — Service Class 2 Fidelity Management & Research Company LLC Subadviser: FMR UK, FMR HK, and FMR Japan |
0.86% | 30.23% | 15.90% | 13.23% |
Seeks long-term growth of capital. | Mid
Cap Portfolio — Service Class 2 Fidelity Management & Research Company LLC Subadviser: FMR UK, FMR HK, and FMR Japan |
0.87% | 17.87% | 10.79% | 9.22% |
Seeks to maximize income while maintaining prospects for capital appreciation. | Franklin
Income VIP Fund — Class 2# Franklin Advisers, Inc. |
0.72% | 0.69% | 6.94% | 5.98% |
Seeks capital appreciation, with income as a secondary goal. | Franklin
Mutual Shares VIP Fund — Class 2 Franklin Mutual Advisers, LLC |
0.98% | -5.04% | 5.88% | 6.99% |
Seeks long-term total return. | Franklin
Small Cap Value VIP Fund — Class 2 Franklin Mutual Advisers, LLC |
0.93% | 5.19% | 10.77% | 9.20% |
Seeks high current income, consistent with preservation of capital, with capital appreciation as a secondary consideration. | Templeton
Global Bond VIP Fund — Class 2# Franklin Advisers, Inc. |
0.74% | -4.92% | 0.66% | 1.56% |
Seeks long-term capital appreciation. | ClearBridge
Variable Appreciation Portfolio — Class I Legg Mason Partners Fund Advisor, LLC Subadviser: ClearBridge Investments, LLC |
0.74% | 14.78% | 13.96% | 12.86% |
Investment Objectives | Portfolio
Company and Adviser/Sub-Adviser |
Current Expenses | Average
Annual Total Returns (as of 12/31/2020) | ||
1
Year |
5
Year |
10
Year | |||
Seeks dividend income, growth of dividend income and long-term capital appreciation. | ClearBridge
Variable Dividend Strategy Portfolio — Class II Legg Mason Partners Fund Advisor, LLC Subadviser: ClearBridge Investments, LLC |
1.01% | 7.50% | 12.89% | 11.87% |
Seeks long-term growth of capital. | ClearBridge
Variable Small Cap Growth Portfolio — Class I Legg Mason Partners Fund Advisor, LLC Subadviser: ClearBridge Investments, LLC |
0.81% | 43.26% | 19.84% | 15.92% |
Seeks a balance of growth of capital and income. | QS
Variable Conservative Growth — Class I‡ Legg Mason Partners Fund Advisor, LLC Subadviser: QS Investors, LLC |
0.71% | 10.96% | 8.72% | 7.59% |
Seeks capital appreciation. | QS
Variable Growth — Class I‡ Legg Mason Partners Fund Advisor, LLC Subadviser: QS Investors, LLC |
0.82% | 11.24% | 10.18% | 9.06% |
Seeks to maximize total return. | Western
Asset Variable Global High Yield Bond Portfolio — Class I Legg Mason Partners Fund Advisor, LLC Subadvisers: Western Asset Management Company, LLC; Western Asset Management Company Limited; Western Asset Management Pte. Ltd. |
0.84% | 7.32% | 8.18% | 5.82% |
Seeks capital appreciation by investing in a diversified portfolio of securities consisting primarily of common stocks. | Pioneer
Mid Cap Value VCT Portfolio — Class II Amundi Asset Management US, Inc. |
0.99% | 1.87% | 6.62% | 7.45% |
# | Certain Investment Portfolios and their investment advisers have entered into temporary expense reimbursement and/or fee waivers. Please see the Investment Portfolios' prospectuses for additional information regarding these arrangements. |
‡ | This Investment Portfolio is a fund of funds and invests substantially all of its assets in other underlying funds. Because the Investment Portfolio invests in other funds, it will bear its pro rata portion of the operating expenses of those underlying funds, including the management fee. |
† | This Investment Portfolio is only available for Contracts issued prior to 04/30/2020. |
†† | Closed to new investments except under dollar cost averaging and rebalancing programs in existence at the time of closing. |
Marketing Name | Prospectus Name | |
ClearBridge Variable Appreciation | ClearBridge Variable Appreciation Portfolio | |
ClearBridge Variable Dividend Strategy | ClearBridge Variable Dividend Strategy Portfolio | |
ClearBridge Variable Small Cap Growth | ClearBridge Variable Small Cap Growth Portfolio | |
Fidelity VIP Contrafund® Portfolio | Contrafund ® Portfolio | |
Fidelity VIP Mid Cap Portfolio | Mid Cap Portfolio | |
Ultra-Short Term Bond Portfolio | BlackRock Ultra-Short Term Bond Portfolio | |
Western Asset Variable Global High Yield Bond | Western Asset Variable Global High Yield Bond Portfolio |
Date | Amount | |||||
A | Initial Purchase Payment | 9/1/2021 | $100,000 | |||
B | Account Value | 9/1/2022
(First Contract Anniversary) |
$104,000 | |||
C | Death Benefit | As of 9/1/2022 | $104,000
(= greater of A and B) |
|||
D | Account Value | 9/1/2023
(Second Contract Anniversary) |
$90,000 | |||
E | Death Benefit | 9/1/2023 | $100,000
(= greater of A and D) |
|||
F | Withdrawal | 9/2/2023 | $9,000 | |||
G | Percentage Reduction in Account Value | 9/2/2023 | 10%
(= F/D) |
|||
H | Account Value after Withdrawal | 9/2/2023 | $81,000
(= D-F) |
|||
I | Purchase Payments Reduced for Withdrawal | As of 9/2/2023 | $90,000
(= A-(A × G)) |
|||
J | Death Benefit | 9/2/2023 | $90,000
(= greater of H and I) |
Issue Age | Benefit Percentage |
Ages 69 or younger | 40% |
Ages 70-79 | 25% |
Step 1: | Calculate your death benefit under the Contract2 |
Step 2: | EPB earnings = death benefit – total Purchase Payments not withdrawn3 |
Step 3: | Additional Death Benefit = benefit percentage x EPB earnings |
Step 4: | Total death benefit with EPB = death benefit + Additional Death Benefit |
• | MetLife Insurance Company of Connecticut: MetLife Insurance Company of Connecticut (MICC), originally chartered in Connecticut in 1863, was known as |
Travelers Insurance Company prior to May 1, 2006. MICC changed its name to MetLife Insurance Company USA and its state of domicile to Delaware after November 14, 2014 as described under “MetLife Insurance Company USA” above. |
• | MetLife Life and Annuity Company of Connecticut: MetLife Life and Annuity Company of Connecticut (MLAC), originally chartered in Connecticut in 1973, was known as Travelers Life and Annuity Company prior to May 1, 2006. On or about December 7, 2007, MLAC merged with and into MICC. |
• | MetLife Investors USA Insurance Company: MetLife Investors USA Insurance Company (MLI USA), originally chartered in Delaware in 1960, was known as Security First Life Insurance Company prior to January 8, 2001. MLI USA was merged into BLIC after the close of business on November 14, 2014, as described under “MetLife Insurance Company USA” above. |
• | MetLife Investors Insurance Company: MetLife Investors Insurance Company (MLI), originally chartered in Missouri in 1981, was known as Cova Financial Services Life Insurance Company prior to February 12, 2001. MLI was merged into BLIC after the close of business on November 14, 2014, as described under “MetLife Insurance Company USA” above. |
• | MetLife Investors Insurance Company of California: MetLife Investors Insurance Company of California (MLI-CA), originally chartered in California in 1972, was known as Cova Financial Life Insurance Company prior to February 12, 2001. On November 9, 2006 MLI-CA merged with and into MLI. |
Fiscal year | Aggregate
Amount of Commissions Paid to Distributor |
Aggregate
Amount of Commissions Retained by Distributor After Payments to Selling Firms | ||
2020 |
$651,736,999 | $0 | ||
2019 |
$649,095,230 | $0 | ||
2018 |
$604,739,251 | $0 |
1. | The size and type of group to which sales are to be made will be considered. Generally, the sales expenses for a larger group are less than for a smaller group because of the ability to implement large numbers of contracts with fewer sales contacts. |
2. | The total amount of Purchase Payments to be received will be considered. Per contract sales expenses are likely to be less on larger Purchase Payments than on smaller ones. |
3. | Any prior or existing relationship with the Company will be considered. Per contract sales expenses are likely to be less when there is a prior existing relationship because of the likelihood of implementing the contract with fewer sales contacts. |
4. | There may be other circumstances, of which the Company is not presently aware, which could result in reduced sales expenses. |
1. | the dollar amount of the first variable Annuity Payment is divided by the value of an Annuity Unit for each applicable Investment Portfolio as of the annuity calculation date. This establishes the number of Annuity Units for each monthly payment. The number of Annuity Units for each applicable Investment Portfolio remains fixed during the annuity period, unless you transfer values from the Investment Portfolio to another Investment Portfolio; |
2. | the fixed number of Annuity Units per payment in each Investment Portfolio is multiplied by the Annuity Unit value for that Investment Portfolio for the Business Day for which the Annuity Payment is being calculated. This result is the dollar amount of the payment for each applicable Investment Portfolio, less any account fee. The account fee will be deducted pro rata out of each Annuity Payment. |
A is (i) | the net asset value per share of the portfolio at the end of the current Business Day; plus |
(ii) | any dividend or capital gains per share declared on behalf of such portfolio that has an ex-dividend date as of the current Business Day. |
B is | the net asset value per share of the portfolio for the immediately preceding Business Day. |
C is (i) | the Separate Account product charges and for each day since the last Business Day. The daily charge is equal to the annual Separate Account product charges divided by 365; plus |
(ii) | a charge factor, if any, for any taxes or any tax reserve we have established as a result of the operation of the Separate Account. |
• | You may not make a transfer from the fixed Annuity Option to the variable Annuity Option; |
• | Transfers among the subaccounts will be made by converting the number of Annuity Units being transferred to the number of Annuity Units of the subaccount to which the transfer is made, so that the next Annuity Payment if it were made at that time would be the same amount that it would have been without the transfer. Thereafter, Annuity Payments will reflect changes in the value of the new Annuity Units; and |
• | You may make a transfer from the variable Annuity Option to the fixed Annuity Option. The amount transferred from a subaccount of the Separate Account will be equal to the product of “(a)” multiplied by “(b)” multiplied by “(c)”, where (a) is the number of Annuity Units representing your interest in the subaccount per Annuity Payment; (b) is the Annuity Unit value for the subaccount; and (c) is the present value of $1.00 per payment period for the remaining annuity benefit period based on the attained age of the Annuitant at the time of transfer, calculated using the same actuarial basis as the variable annuity rates applied on the Annuity Date for the Annuity Option elected. Amounts transferred to the fixed Annuity Option will be applied under the Annuity Option elected at the attained age of the Annuitant at the time of the transfer using the fixed Annuity Option table. If at the time of transfer, the then current fixed Annuity Option rates applicable to this |
class of contracts provide a greater payment, the greater payment will be made. All amounts and Annuity Unit values will be determined as of the end of the Business Day on which the Company receives a notice. |
(1) | IRA: elective contribution to all traditional and Roth IRAs: $6,000; catch-up contribution: $1,000 |
(2) | SIMPLE: elective contribution: $13,500; catch-up contribution: $3,000 |
(3) | 401(k): elective contribution: $19,500; catch-up contribution: $6,500 |
(4) | SEP/401(a): (employer contributions only) |
(5) | 403(b) (TSA): elective contribution: $19,500; catch-up contribution: $6,500 |
(6) | 457(b) : elective contribution: $19,500; catch-up contribution: $6,500 |
(a) | choose income payments other than on a qualified joint and survivor annuity basis (“QJSA”) (one under which we make payments to you during your lifetime and then make payments reduced by no more than 50% to your spouse for his or her remaining life, if any): or choose to waive the qualified pre-retirement survivor annuity benefit (“QPSA”) (the benefit payable to the |
surviving spouse of a participant who dies with a vested interest in an accrued retirement benefit under the plan before payment of the benefit has begun); | |
(b) | make certain withdrawals under plans for which a qualified consent is required; |
(c) | name someone other than the spouse as your Beneficiary; or |
(d) | use your accrued benefit as security for a loan, if available, exceeding $5,000. |
Item 27. | Exhibits |
(b) | Not Applicable. |
(i) | Not Applicable. |
(j) | Not Applicable. |
(l) | Consent of Independent Registered Public Accounting Firm (Deloitte & Touche LLP) (Filed herewith.) |
(m) | Not Applicable. |
(n) | Not Applicable. |
(o) | Not Applicable. |
ITEM 28. | DIRECTORS AND OFFICERS OF THE DEPOSITOR |
Name and Principal Business Address | Positions and Offices with Depositor | |
Eric
Steigerwalt 11225 North Community House Road Charlotte, NC 28277 |
Director, Chairman of the Board, President and Chief Executive Officer |
John
Rosenthal 334 Madison Avenue Morristown, NJ 07960 |
Director, Vice President and Chief Investment Officer |
Edward
Spehar 11225 North Community House Road Charlotte, NC 28277 |
Director, Vice President and Chief Financial Officer |
Devon
Arendosh 11225 North Community House Road Charlotte, NC 28277 |
Vice President and Chief Information Security Officer |
Christine
DeBiase 11225 North Community House Road Charlotte, NC 28277 |
Vice President, General Counsel and Assistant Secretary |
Andrew
DeRosa 334 Madison Avenue Morristown, NJ 07960 |
Vice President |
David
Dooley 334 Madison Avenue Morristown, NJ 07960 |
Vice President |
Lynn
Dumais 11225 North Community House Road Charlotte, NC 28277 |
Vice President and Chief Accounting Officer |
Gianna
Figaro-Sterling 11225 North Community House Road Charlotte, NC 28277 |
Vice President and Controller |
Kevin
Finneran 11225 North Community House Road Charlotte, NC 28277 |
Vice President and Illustration Officer |
James
Grady 334 Madison Avenue Morristown, NJ 07960 |
Vice President |
Jeffrey
Halperin 11225 North Community House Road Charlotte, NC 28277 |
Vice President and Chief Compliance Officer |
Christopher
Hartsfield 11225 North Community House Road Charlotte, NC 28277 |
Vice President and Assistant Secretary |
Jeffrey
Hughes 11225 North Community House Road Charlotte, NC 28277 |
Vice President and Chief Technology Officer |
Roger
Kramer, Jr. 334 Madison Avenue Morristown, NJ 07960 |
Vice President |
John
Lima 334 Madison Avenue Morristown, NJ 07960 |
Chief Derivatives Officer |
Philip
Melville 334 Madison Avenue Morristown, NJ 07960 |
Vice President and Chief Risk Officer |
Melissa
Pavlovich 11225 North Community House Road Charlotte, NC 28277 |
Vice President and Tax Director |
Marc
Pucci 334 Madison Avenue Morristown, NJ 07960 |
Vice President |
Michael
Villella 11225 North Community House Road Charlotte, NC 28277 |
Vice President and Illustration Actuary |
Item 29. | Persons Controlled by or Under Common Control with the Depositor or the Registrant |
A. | Brighthouse Holdings, LLC (DE) | |||
1. | New England Life Insurance Company (MA) | |||
2. | Brighthouse Life Insurance Company (DE) | |||
a. | Brighthouse Reinsurance Company of Delaware (DE) | |||
b. | Brighthouse Life Insurance Company of NY (NY) | |||
c. | Brighthouse Connecticut Properties Ventures, LLC (DE) | |||
d. | Brighthouse Renewables Holdings, LLC (DE) | |||
(i.) | Greater Sandhill I, LLC (DE) | |||
e. | Daniel/Brighthouse Midtown Atlanta Master Limited Liability Company (DE) | |||
(i.) | 1075 Peachtree LLC (DE) | |||
f. | Brighthouse Assignment Company (CT) | |||
g. | ML 1065 Hotel, LLC (DE) | |||
h. | TIC European Real Estate LP, LLC (DE) | |||
i. | Euro TL Investments LLC (DE) | |||
j. | TLA Holdings LLC (DE) | |||
(i.) | The Prospect Company (DE) | |||
k. | Euro TI Investments LLC (DE) | |||
l. | TLA Holdings II LLC (DE) | |||
3. | Brighthouse Securities, LLC (DE) | |||
4. | Brighthouse Services, LLC (DE) | |||
5. | Brighthouse Investment Advisers, LLC (DE) |
Item 30. | Indemnification |
Item 31. | Principal Underwriters |
(a) | Brighthouse Securities, LLC is the principal underwriter for the following investment companies (including the Registrant): |
(b) | Brighthouse Securities, LLC is the principal underwriter for the Contracts. The following persons are the officers and managers of Brighthouse Securities, LLC. The principal business address for Brighthouse Securities, LLC is 11225 North Community House Road, Charlotte, NC 28277. |
Name and Principal Business Address | Positions and Offices with Underwriter |
Myles
Lambert 11225 North Community House Road Charlotte, NC 28277 |
Manager, President and Chief Executive Officer |
Jeffrey
Halperin 11225 North Community House Road Charlotte, NC 28277 |
Vice President, General Counsel and Chief Compliance Officer |
Christopher
Hartsfield 11225 North Community House Road Charlotte, NC 28277 |
Vice President and Assistant Secretary |
John
Lima 334 Madison Avenue Floor 3 Morristown, NJ 07960 |
Vice President and Chief Derivatives Officer |
Melissa
Pavlovich 11225 North Community House Road Charlotte, NC 28277 |
Vice President and Tax Director |
(c) | Compensation to the Distributor. The following aggregate amount of commissions and other compensation was received by the Distributor, directly or indirectly, from the Registrant and the other separate accounts of the Depositor, which also issue variable annuity contracts, during their last fiscal year: |
(1)
Name of Principal Underwriter |
(2)
Net Underwriting Discounts And Commissions |
(3)
Compensation On Redemption |
(4)
Brokerage Commissions |
(5)
Other Compensation | ||||
Brighthouse Securities,
LLC |
$651,736,999 | $0 | $0 | $0 |
Item 32. | Location of Accounts and Records |
Item 33. | Management Services |
Item 34. | Fee Representation |
1. | Include appropriate disclosure regarding the redemption restrictions imposed by Section 403(b)(11) in each registration statement, including the prospectus, used in connection with the offer of the contract; |
2. | Include appropriate disclosure regarding the redemption restrictions imposed by Section 403(b)(11) in any sales literature used in connection with the offer of the contract; |
3. | Instruct sales representatives who solicit participants to purchase the contract specifically to bring the redemption restrictions imposed by Section 403(b)(11) to the attention of the potential participants; |
4. | Obtain from each plan participant who purchases a Section 403(b) annuity contract, prior to or at the time of such purchase, a signed statement acknowledging the participant's understanding of (1) the restrictions on redemption imposed by Section 403(b)(11), and (2) other investment alternatives available under the employer's Section 403(b) arrangement to which the participant may elect to transfer his contract value. |
BRIGHTHOUSE
SEPARATE ACCOUNT A (Registrant) | ||
By: | BRIGHTHOUSE LIFE INSURANCE COMPANY | |
By: | /s/ Donald A. Leintz | |
Donald
A. Leintz Vice President |
By: | BRIGHTHOUSE LIFE INSURANCE COMPANY | |
(Depositor) | ||
By: | /s/ Donald A. Leintz | |
Donald
A. Leintz Vice President |
/s/
Eric Steigerwalt* Eric Steigerwalt |
Chairman of the Board, President, Chief Executive Officer and a Director |
/s/
Myles Lambert* Myles Lambert |
Director and Vice President |
/s/
Conor Murphy* Conor Murphy |
Director and Vice President |
/s/
Jonathan Rosenthal* Jonathan Rosenthal |
Director, Vice President and Chief Investment Officer |
/s/
Edward A. Spehar* Edward A. Spehar |
Director, Vice President and Chief Financial Officer |
/s/
Lynn A. Dumais* Lynn A. Dumais |
Vice President and Chief Accounting Officer |
*By: | /s/ Michele H. Abate | |
Michele
H. Abate, Attorney-In-Fact April 7, 2021 |
* | Brighthouse Life Insurance Company. Executed by Michele H. Abate, Esquire on behalf of those indicated pursuant to powers of attorney filed herewith. |
(l) | Consent of Independent Registered Public Accounting Firm (Deloitte & Touche LLP) |
(p) | Powers of Attorney |
This ‘485BPOS’ Filing | Date | Other Filings | ||
---|---|---|---|---|
1/1/26 | ||||
Effective on: | 4/30/21 | 485BPOS, 497 | ||
Filed on: | 4/15/21 | 485BPOS | ||
4/7/21 | ||||
12/31/20 | 24F-2NT, N-30D, N-CEN, N-VPFS | |||
1/1/20 | ||||
12/31/18 | 24F-2NT, N-30D, N-CEN | |||
12/31/17 | 24F-2NT, N-30D, NSAR-U | |||
8/4/17 | ||||
3/6/17 | 485APOS, 497 | |||
11/14/14 | 485APOS, EFFECT, N-4 | |||
11/8/13 | 497 | |||
9/18/13 | ||||
8/9/13 | ||||
12/31/12 | 24F-2NT, N-30D, NSAR-U | |||
11/9/12 | ||||
7/1/12 | ||||
7/15/11 | ||||
5/1/09 | 485BPOS | |||
12/7/07 | ||||
9/24/07 | ||||
11/9/06 | ||||
5/1/06 | 485BPOS | |||
2/12/01 | ||||
1/8/01 | ||||
12/31/99 | 24F-2NT, NSAR-U | |||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 5/03/21 Brighthouse Separate Account A 497 5/03/21 1:1.1M Donnelley … Solutions/FA 4/28/21 Brighthouse Separate Account A 497VPU 4/28/21 1:215K Donnelley … Solutions/FA |