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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 1/30/24 Brighthouse Life Insurance Co. S-3 11:3.8M Donnelley … Solutions/FA |
Document/Exhibit Description Pages Size 1: S-3 Brighthouse Shield Level Pay Plus/R/ Ii Advisory HTML 2.63M Annuity 11: EX-FILING FEES Filing Fees HTML 66K 10: EX-99.24 Powers of Attorney HTML 242K 2: EX-99.4A2 Contract HTML 86K 3: EX-99.4J Guaranteed Lifetime Withdrawal Benefit ("Glwb") HTML 49K Rider - Option A 4: EX-99.4K Guaranteed Lifetime Withdrawal Benefit Rider HTML 72K Schedule - Option A 5: EX-99.4L Guaranteed Lifetime Withdrawal Benefit ("Glwb") HTML 52K Rider - Option B 6: EX-99.4M Guaranteed Lifetime Withdrawal Benefit Rider HTML 72K Schedule - Option B 7: EX-99.4N Form of Cap Rate Shield Option Rider HTML 78K 8: EX-99.4O Form of Step Rate Shield Option Rider HTML 83K 9: EX-99.4P Form of Step Rate Edge Shield Option Rider HTML 86K
Brighthouse Shield Level Pay Plus/R/ II Advisory Annuity |
Large accelerated filer ☐ |
Accelerated filer ☐ |
Non-accelerated filer ☒ |
Smaller reporting company ☐ |
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Emerging growth company ☐ |
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A-1
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E-1
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F-1 | |
G-1
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Guaranteed Lifetime Withdrawal
Benefit – Brighthouse Pay Plus Rider |
The GLWB rider guarantees that you will receive lifetime income regardless of
market performance. Specifically, the GLWB provides Annual
Benefit Payments based on a percentage of your GLWB Base. The
GLWB rider is automatically included with your Contract, and we
charge an annual fee for this benefit (regardless of whether or
not you utilize the benefit). This Rider Charge is equal to the
Rider Fee Rate, a percentage specified in the GLWB Supplement and will not change with respect to your specific Contract. We offer two variations of the GLWB rider: Market Growth and Market Growth
with Rollup. When you purchase the Contract, you must choose either Market
Growth or Market Growth with Rollup. The Withdrawal Rates,
Lifetime Guarantee Rates, and availability of a Rollup Rate
will vary depending on the variation you choose. Market Growth
with Rollup will generally have lower Withdrawal Rates and
Lifetime Guarantee Rates than Market Growth. The initial GLWB
Base is equal to your Purchase Payment. On each Contract
Anniversary, the GLWB Base can increase. •For Market Growth, the GLWB Base will increase if, on the Contract Anniversary, the Account Value exceeds the GLWB Base. The increase occurs through an Automatic Step-Up (on each Contract Anniversary prior
to the Owner’s 91st birthday); and •For Market Growth with Rollup, the increase occurs through a Rollup Rate
not taken a withdrawal in that Contract Year) and an Automatic
Step-Up (if the Account Value exceeds the GLWB Base after we
apply the Rollup). On and after the Annual Benefit Commencement
Date, you can withdraw up to the Annual Benefit Payment in a
Contract Year without impacting your GLWB Base and Net Purchase
Payment Amount. If you take an Early Withdrawal or an Excess
Withdrawal, your GLWB Base and Net Purchase Payment Amount will be reduced in the same proportion (i.e., the same percentage) that these
withdrawals reduce your Account Value. These reductions could be
significant. The GLWB rider cannot be cancelled but will be
terminated under certain circumstances. See “Operation of
the GLWB—Termination of the GLWB Rider.” The GLWB
base cannot be withdrawn in a lump sum or paid as a death benefit.
The Rider Charge, Withdrawal Rates, Lifetime Guarantee Rates, Lifetime
Withdrawal Age, Earliest Annual Benefit Commencement Date,
allocation options available after the Annuity Benefit
Commencement Date, and, if applicable, Rollup Rate
(collectively the “GLWB Terms”) are disclosed in the
GLWB Supplement. We cannot change these terms for your Contract once it is
issued.
Your financial representative will give you a copy of the prospectus with the
GLWB Supplement when you apply for a Contract. The GLWB
Supplement does not change for a given purchaser once issued.
You should not purchase the Contract without first obtaining
the current GLWB Supplement. Once a GLWB Supplement is
effective, it will remain in effect until it is superseded at
any time when we publish a new GLWB Supplement. If we make any
changes, we will supplement the prospectus at least seven calendar days before they take effect on our website at [https://
shield-level-pay-plus-annuities/]. The GLWB Supplement is also filed on EDGAR at www.sec.gov pursuant to Rule 424(b)(2) under the Securities Act of
1933, as a 424B2 form type filing (File Number [333- ]). You can contact us
to receive the GWLB Supplement applicable to your Contract by
calling our Annuity Service Office at the toll-free telephone
number provided in this prospectus. |
Purchase Payment |
The minimum Purchase Payment: $25,000. Prior approval required for a
Purchase Payment of less than $25,000 or $1,000,000 or
more. |
Owner and Annuitant Issue Ages |
50-85 |
Contract Periods |
The Contract has two periods: •The Accumulation Period, the period prior to the Annuity Date; and •The Annuity Period, which begins on the Annuity Date and during which
Annuity Payments are provided. |
Account Value |
The total of the Fixed Account Value, the value of the Shield Option(s), and
the Holding Account value under the Contract during the
Accumulation Period. |
Shield Option |
Each Shield Option has an associated Term, Index, Shield Rate and Rate
Crediting Type. The Shield Options available before the Annual
Benefit Commencement Date may vary from the Shield Options
available after the Annual Benefit Commencement Date. For the
Shield Options available before the Annual Benefit Commencement
Date, see “SHIELD OPTIONS” in this prospectus. For
the Shield Options available after the Annual Benefit
Commencement Date, see your GLWB Supplement. |
Term |
The Term may be 1, 2, 3, or 6 years in length. |
Index |
The current Indices are as follows: •S&P 500® Index (Price Return Index); •Russell 2000® Index (Price Return Index); •MSCI EAFE Index (Price Return Index); and •Nasdaq-100 Index® (Price Return Index). |
Shield Rate |
We currently offer different levels of protection:
Shield 10 — A Shield Rate where negative Index Performance of up to 10% of
your Investment Amount is absorbed by us at the Term End Date, which would
leave you to absorb any remaining negative Index Performance of
up to 90% of your Investment Amount.
Shield 15 — A Shield Rate where negative Index Performance of up to 15% of
your Investment Amount is absorbed by us at the Term End Date, which would
leave you to absorb any remaining negative Index Performance of
up to 85% of your Investment Amount.
Shield 25 — A Shield Rate where negative Index Performance of up to 25% of
your Investment Amount is absorbed by us at the Term End Date, which would
leave you to absorb any remaining negative Index Performance of
up to 75% of your Investment Amount. |
Rate Crediting Type |
A Shield Option can only have one associated Rate Crediting Type: either Cap
Rate, Step Rate, or Step Rate Edge. |
Interim Value |
The Interim Value is designed to represent the fair value of the Shield
Option on each Business Day between the Term Start Date and
Term End Date, taking into account the potential gain or loss
of the applicable Index at the end of the Term. The Interim
Value reflects the change in fair value due to economic factors
of the investment instruments (including derivatives) supporting the Shield Options.The Interim Value is the amount that is available for annuitization, death benefits, withdrawals, and Surrenders. For each Shield
Option, we assign the value of Interim Value on any Business Day other than
the Term Start Date and Term End Date. The Interim Value may be
less than the Investment Amount at the time the Interim Value
is calculated even when the current Index Value is higher than
it was on the Term Start Date. See “Interim Value
Calculation.” |
Transfers |
During the Accumulation Period you may make transfers to the Fixed Account
and/or to new Shield Option(s). You may only transfer during
the Transfer Period. The effective date of such transfer is the
first day of the Fixed Account Term and/or the Term(s) in which
the transfer is made. Partial transfers of a
Shield Option are not permitted except during the Transfer Period. See “TRANSFERS.” |
Fixed Account |
See Appendix D. |
Access to Your Money |
You may withdraw some or all of your money at any time prior to the Annuity
Date. For any withdrawal taken on a Term End Date, a
Performance Rate Adjustment, as of the date of the withdrawal,
will apply. For any withdrawal taken between the Term Start
Date and the Term End Date, we use an Interim Value
calculation, which will reduce the Investment Amount for that Shield Option by the percentage reduction in the Interim Value of that Shield Option.
The Performance Rate Adjustment and reduction (either proportionate or dollar
for dollar) may be substantial. In addition, a withdrawal taken
in excess of the Free Withdrawal Amount may be subject to a
Withdrawal Charge. Early Withdrawals and Excess Withdrawals will
reduce your GLWB Base and Net Purchase Payment Amount and may
be subject to a Withdrawal Charge. |
Withdrawal Charge |
A percentage charge applied to withdrawals in excess of the Free Withdrawal
Amount. The Free Withdrawal Amount is 0% in the first Contract Year, and 10%
of Account Value in each subsequent Contract Year to the extent
that amount has not already been withdrawn that Contract Year.
The Withdrawal Charge is calculated at the time of each
withdrawal in accordance with the following:
|
|
|
|
|
|
|
|
Withdrawal
Charge
percentage |
| |
|
|
0 |
7% |
|
|
|
1 |
7% |
|
|
|
2 |
6% |
|
|
|
3 |
5% |
|
|
|
4 |
4% |
|
|
|
5 |
3% |
|
|
|
6 or more |
0% |
|
|
See “WITHDRAWAL PROVISIONS — When No Withdrawal Charge
Applies” for a list of Withdrawal Charge
waivers |
Systematic Withdrawal Program |
On or after the Annual Benefit Commencement Date, you may elect the Systematic Withdrawal Program to provide automated processing of
amounts withdrawn from your Contract, subject to program terms. We do not
assess a charge for the program and you may
terminate your participation in the program at any
time. Withdrawals under the Systematic Withdrawal
Program are subject to the same Withdrawal Charge provisions and risks as
any other withdrawals under the Contract. Moreover, since
withdrawal amounts from a Shield Option will reduce the
Investment Amount for that Shield Option by the percentage
reduction in the Interim Value of that Shield Option, a
withdrawal when Interim Value is less than the Investment Amount will cause a
greater percentage reduction in the Investment Amount that
remains in your Shield Option relative to the percentage
reduction for the same withdrawal amount when Interim Value is
greater than the Investment Amount. Since withdrawals
under the Systematic Withdrawal Program are automatic, you will have no control over the timing of those withdrawals. See “WITHDRAWAL
PROVISIONS – Systematic Withdrawal Program” for availability and
other restrictions.
While the Systematic Withdrawal Program is in effect, you can make additional
withdrawals outside of the program. However, such withdrawals
that exceed the Annual Benefit Payment will be considered
Excess Withdrawals, may be subject to a Withdrawal Charge, and
will reduce the GLWB Base and Net Purchase Payment Amount.
Those reductions may be significant and could have the effect
of, in turn, reducing or eliminating the guarantees of the GLWB
rider. |
Death Benefit |
For Owners age 81 or older at the Issue Date of the Contract, the standard
death benefit is the Account Value. For Owners age 80 or
younger at the Issue Date of the Contract, the standard death
benefit (known as the Return of Premium death benefit) is the
greater of the Account Value or your Purchase Payment (reduced
proportionally by the percentage reduction in Account Value of
the Shield Option(s), the Fixed Account, and the Holding Account for each partial withdrawal (including any applicable Withdrawal Charge)). The Death
Benefit Amount is determined as of the end of the Business Day on which we
receive Notice of due proof of death and an acceptable election
for the payment method. |
Annuity Options |
You can choose an Annuity Option. After Annuity Payments begin, you cannot
change the Annuity Option. You can choose one of the following
Annuity Options on a fixed payment basis or any other Annuity
Option acceptable to us: (i)Life Annuity with 10 Years of Annuity Payments Guaranteed;
and (ii)Joint and Last Survivor Annuity with 10 Years of Annuity Payments Guaranteed. The Annuity Options may be limited due to the requirements of the Code. |
Charges and Expenses |
You will bear the following charges and expenses: (i) Rider Charge; (ii)Withdrawal Charges; and (iii)Premium Tax and other taxes. |
Your Right to Cancel |
You may cancel the Contract within a certain time period after receiving it by
mailing or delivering the Contract to either us or the financial
representative who sold it. This is known as a “Free
Look.” Unless otherwise required by state law, we will
return either your Purchase Payment or Account Value, depending
on your state, and we will not deduct a Withdrawal Charge.
|
SHIELD OPTIONS available before the Annual Benefit Commencement Date | |
TERM |
INDEX |
SHIELD 25 (up to 25% downside protection) | |
1 Year |
S&P 500® Index
Russell 2000® Index
MSCI EAFE Index Nasdaq-100 Index® |
6 Year |
S&P 500® Index Russell 2000® Index
MSCI EAFE Index Nasdaq-100 Index® |
SHIELD OPTIONS available before the Annual Benefit Commencement Date | |
TERM |
INDEX |
SHIELD 15 (up to 15% downside protection) | |
1 Year |
S&P 500® Index
S&P 500® Index Step Rate
S&P 500® Index Step Rate Edge
Russell 2000® Index
Russell 2000® Index Step Rate
Russell 2000® Index Step Rate Edge
MSCI EAFE Index MSCI EAFE Index Step Rate MSCI
EAFE Index Step Rate Edge Nasdaq-100 Index® Nasdaq-100 Index® Step Rate Nasdaq-100 Index® Step Rate Edge |
2 Year |
S&P 500® Index Step Rate
S&P 500® Index Step Rate Edge
Russell 2000® Index Step Rate
Russell 2000® Index Step Rate Edge
MSCI EAFE Index Step Rate MSCI EAFE Index Step Rate Edge
Nasdaq-100 Index® Step Rate
Nasdaq-100 Index® Step Rate Edge |
3 Year |
S&P 500® Index
Russell 2000® Index
MSCI EAFE Index Nasdaq-100 Index® |
6 Year |
S&P 500® Index
Russell 2000® Index
MSCI EAFE Index Nasdaq-100 Index® |
SHIELD 10 (up to 10% downside protection) | |
1 Year |
S&P 500® Index
S&P 500® Index Step Rate
S&P 500® Index Step Rate Edge
Russell 2000® Index
Russell 2000® Index Step Rate
Russell 2000® Index Step Rate Edge
MSCI EAFE Index MSCI EAFE Index Step Rate MSCI
EAFE Index Step Rate Edge Nasdaq-100 Index® Nasdaq-100 Index® Step Rate Nasdaq-100 Index® Step Rate Edge |
2 Year |
S&P 500® Index Step Rate
S&P 500® Index Step Rate Edge
Russell 2000® Index Step Rate
Russell 2000® Index Step Rate Edge
MSCI EAFE Index Step Rate MSCI EAFE Index Step Rate Edge
Nasdaq-100 Index® Step Rate
Nasdaq-100 Index® Step Rate Edge |
3 Year |
S&P 500® Index Russell 2000® Index
MSCI EAFE Index Nasdaq-100 Index® |
SHIELD OPTIONS available before the Annual Benefit Commencement Date | |
TERM |
INDEX |
6 Year |
S&P 500® Index Russell 2000® Index
MSCI EAFE Index Nasdaq-100 Index® |
Shield Rate |
Downside Protection |
Shield 10 |
up to 10% |
Shield 15 |
up to 15% |
Shield 25 |
up to 25% |
Shield Option type: |
If Index Performance is: |
Performance Rate will equal: |
Shield Options with a Cap Rate |
less than or equal to zero |
the lesser of: zero or the Index Performance increased by the Shield Rate (For example: a -15% Index Performance with Shield 10 will result in a -5% Performance Rate. The Performance Rate can never be greater than zero if the Index Performance is negative.) |
|
greater than zero and less than the
Cap Rate |
the Index Performance |
|
greater than zero and equals or
exceeds the Cap Rate |
the Cap Rate |
Shield Options with a Step Rate |
less than zero |
the lesser of: zero or the Index Performance increased by the Shield Rate (For example: a -15% Index Performance with Shield 10 will result in a -5% Performance Rate. The Performance Rate can never be greater than zero if the Index Performance is negative.) |
|
equal to or greater than zero |
the Step Rate |
Shield Options with Step Rate Edge |
less than zero and exceeds the Shield
Rate |
Index Performance increased by the Shield Rate (For example: a -15% Index Performance with Shield 10 will result in a -5% Performance Rate.) |
|
less than zero but does not exceed
the Shield Rate |
the Edge Rate |
|
zero or positive |
the Edge Rate |
Contract Year |
1 |
2 |
3 |
4 |
5 |
Term Start Date | |||||
Investment Amount(1) |
$50,000 |
$55,000 |
$57,750 |
$57,750 |
$57,750 |
Index Value |
1,000 |
1,200 |
1,260 |
1,260 |
1,197 |
Term End Date | |||||
Index Value |
1,200 |
1,260 |
1,260 |
1,197 |
1,017 |
Index Performance(2) |
20% |
5% |
0% |
-5% |
-15% |
Cap Rate |
10% |
10% |
10% |
10% |
10% |
Shield Rate |
10% |
10% |
10% |
10% |
10% |
Performance Rate (one year)(3) |
10% |
5% |
0% |
0% |
-5% |
Performance Rate Adjustment(4) |
$5,000 |
$2,750 |
$0 |
$0 |
-$2,888 |
Investment Amount(5) |
$55,000 |
$57,750 |
$57,750 |
$57,750 |
$54,862 |
Contract Year |
1 |
2 |
3 |
4 |
5 |
Term Start Date | |||||
Investment Amount(1) |
$50,000 |
$54,000 |
$58,320 |
$62,986 |
$62,986 |
Index Value |
1,000 |
1,050 |
1,260 |
1,260 |
1,134 |
Term End Date | |||||
Index Value |
1,050 |
1,260 |
1,260 |
1,134 |
964 |
Index Performance(2) |
5% |
20% |
0% |
-10% |
-15% |
Step Rate |
8% |
8% |
8% |
8% |
8% |
Shield Rate |
10% |
10% |
10% |
10% |
10% |
Performance Rate (one year)(3) |
8% |
8% |
8% |
0% |
-5% |
Performance Rate Adjustment(4) |
$4,000 |
$4,320 |
$4,666 |
$0 |
-$3,149 |
Investment Amount(5) |
$54,000 |
$58,320 |
$62,986 |
$62,986 |
$59,837 |
Contract Year |
1 |
2 |
3 |
4 |
5 |
Term Start Date | |||||
Investment Amount(1) |
$50,000 |
$53,500 |
$57,245 |
$61,252 |
$65,540 |
Index Value |
1,000 |
1,050 |
1,260 |
1,260 |
1,134 |
Term End Date | |||||
Index Value |
1,050 |
1,260 |
1,260 |
1,134 |
964 |
Index Performance(2) |
5% |
20% |
0% |
-10% |
-15% |
Edge Rate |
7% |
7% |
7% |
7% |
7% |
Shield Rate |
10% |
10% |
10% |
10% |
10% |
Performance Rate (one year)(3) |
7% |
7% |
7% |
7% |
-5% |
Performance Rate Adjustment(4) |
$3,500 |
$3,745 |
$4,007 |
$4,288 |
-$3,277 |
Investment Amount(5) |
$53,500 |
$57,245 |
$61,252 |
$65,540 |
$62,263 |
|
Step Rate Edge |
Step Rate |
Cap Rate |
Cap Rate |
Term (in months) |
12 |
24 |
36 |
72 |
Months elapsed since Term Start Date |
0 |
0 |
0 |
0 |
Investment Amount |
$50,000 |
$50,000 |
$50,000 |
$50,000 |
Shield Rate |
10% |
15% |
10% |
25% |
Shield Option Rate |
8.25% |
18% |
130% |
200% |
Months until Term End Date |
12 |
24 |
36 |
72 |
Market Value Rate on Term Start Date |
2.00% |
4.00% |
6.00% |
8.00% |
Starting Index Value |
1,000 | |||
Total Account Value |
$200,000 |
|
Step Rate Edge |
Step Rate |
Cap Rate |
Cap Rate |
Months elapsed since Term Start Date |
6 | |||
Months until Term End Date |
6 |
18 |
30 |
66 |
Index Value |
1200 | |||
Index Performance on calculation date(1) |
20% | |||
Market Value Rate on calculation date |
3.00% |
5.00% |
7.00% |
9.00% |
Market value of the Fixed Income Asset Proxy |
$48,823.16 |
$46,519.03 |
$42,116.56 |
$34,758.31 |
Market value of the Derivative Asset Proxy |
$3,848.51 |
$6,526.00 |
$16,069.42 |
$21,946.25 |
Interim Value of each Shield Option(2) |
$52,671.67 |
$53,045.03 |
$58,185.98 |
$56,704.57 |
Total Account Value |
$220,607.25 |
|
Step Rate Edge |
Step Rate |
Cap Rate |
Cap Rate |
Months elapsed since Term Start Date |
6 | |||
Months until Term End Date |
6 |
18 |
30 |
66 |
Index Value |
700 | |||
Index Performance on calculation date(1) |
-30% | |||
Market Value Rate on calculation date |
3.00% |
5.00% |
7.00% |
9.00% |
Market value of the Fixed Income Asset Proxy |
$48,823.16 |
$46,519.03 |
$42,116.56 |
$34,758.31 |
Market value of the Derivative Asset Proxy |
-$8,899.83 |
-$5,554.28 |
-$5,794.44 |
$2,103.07 |
Interim Value of each Shield Option(2) |
$39,923.32 |
$40,964.75 |
$36,322.12 |
$36,861.38 |
Total Account Value |
$154,071.57 |
Number of
Complete Contract Years since Issue Date |
Withdrawal Charge
percentage |
0 |
7% |
1 |
7% |
2 |
6% |
3 |
5% |
4 |
4% |
5 |
3% |
6 or more |
0% |
Term Start Date | |
Investment Amount |
$50,000 |
Shield Rate |
Shield 10 |
Cap Rate |
10% |
Index Value |
500 |
Interim Value Calculation Halfway Through Term
| |
Index Value |
600 |
Index Performance(1) |
20% |
Time Remaining in Shield Option (in months) |
6 |
Market Value Rate on calculation date |
3% |
Market value of Fixed Income Asset Proxy |
$49,452.40 |
Market value of Derivative Asset Proxy |
$4,062.37 |
Interim Value of Shield Option(2) |
$53,514.77 |
Withdrawal Amount taken |
$20,000 |
Investment Amount at Term Start Date adjusted for any withdrawals(3) |
$31,313.57 |
Net Proceeds from withdrawal paid to Contract Owner(4) |
$20,000 |
Term End Date | |
Index Value |
700 |
Index Performance(5) |
40% |
Performance Rate(6) |
10% |
Performance Rate Adjustment(7) |
$3,131.36 |
Investment Amount(8) |
$34,444.93 |
Term Start Date | |
Investment Amount |
$50,000 |
Shield Rate |
Shield 10 |
Cap Rate |
10% |
Index Value |
500 |
Interim Value Calculation Halfway Through Term
| |
Index Value |
400 |
Index Performance(1) |
–20% |
Time Remaining in Shield Option (in months) |
6 |
Market Value Rate on calculation date |
3% |
Market value of Fixed Income Asset Proxy |
$49,452.40 |
Market value of Derivative Asset Proxy |
–$4,661.31 |
Interim Value of Shield Option (sum of 1+2)(2) |
$44,791.09 |
Withdrawal Amount taken |
$20,000 |
Investment Amount adjusted for any withdrawals(3) |
$27,674.13 |
Free Withdrawal Amount(4) |
$5,000 |
Withdrawal Charge Amount(5) |
$1,050 |
Net Proceeds from Withdrawal paid to Contract Owner(6) |
$18,950 |
Term End Date | |
Index Value |
450 |
Index Performance(7) |
–10% |
Performance Rate(8) |
0% |
Performance Rate Adjustment(9) |
$0 |
Investment Amount(10) |
$27,674.13 |
Contract Year |
1 |
Term Start Date | |
Investment Amount |
$50,000 |
Index Value |
1,000 |
Term End Date | |
Index Value |
1,200 |
Index Performance(1) |
20% |
Cap Rate |
10% |
Shield Rate |
Shield 10 |
Performance Rate (one year)(2) |
10% |
Performance Rate Adjustment(3) |
$5,000 |
Investment Amount(4) |
$55,000 |
Contract Year |
2 | |
|
1-Year Term / Shield 10 / S&P 500® Index with a Cap Rate of 10% |
1-Year Term / Shield 10 / Russell
2000® Index with a Cap Rate of 12% |
Investment Amount at Term Start Date
(second term)(1) |
$27,500 |
$27,500 |
If you… |
Your “Applicable Age”
is… |
Were born on or before June 30, 1949 |
70½ |
Were born on or after July 1, 1949 (and attain age 72 prior to
|
72 |
Attain age 72 on or after January 1, 2023 (and attain age 73 on or
before December 31, 2032) |
73* |
Attain age 74 on or after January 1, 2033 |
75* |
Plan Type |
Elective Contribution |
Catch-up Contribution |
IRA |
$6,500 |
$1,000 |
SIMPLE IRA |
$15,500 |
$3,500 |
401(k) |
$22,500 |
$7,500 |
SEP/401(a) |
(Employer contributions only) |
|
403(b) [TSA] |
$22,500 |
$7,500 |
457(b) |
$22,500 |
$7,500 |
•Requests to receive regular Annuity Payments
Payments |
|
•Death Claims for Contracts receiving Annuity Payments Payments |
|
•General requests and elections for Contracts receiving Annuity Payments Payments |
|
All other requests and elections and general inquiries
|
Investment Amount at Term Start Date |
$100,000 |
Term |
1-Year |
Initial Index |
S&P 500® Index |
Index Value on Term Start Date for S&P 500® Index |
1,400 |
Cap Rate |
10% |
Shield Rate |
10% |
Index substitution |
|
Number of days since Term Start Date |
183 |
Index Value for S&P 500® Index |
1,330 |
Index Performance for S&P 500® Index(1) |
–5% |
Substituted Index |
Russell 2000® Index |
Index Value for Russell 2000® Index on substitution
date |
1,250 |
Index Value for Russell 2000® Index |
1,375 |
Index Performance for S&P 500® Index(1) |
–5% |
Index Performance for Russell 2000® Index(2) |
10% |
Total Index Performance for the Term(3) |
4.5% |
Cap Rate |
10% |
Shield Rate |
10% |
Performance Rate(4) |
4.5% |
Performance Rate Adjustment(5) |
$4,500 |
Investment Amount at Term End Date(6) |
$104,500 |
|
|
Date |
Amount |
A |
Purchase Payment |
Issue Date |
$100,000 |
B |
Account Value |
First Contract Anniversary |
$90,000 |
C |
Death Benefit |
First Contract Anniversary |
$100,000
(= greater of A and B) |
D |
Withdrawal |
One Day after the First Contract Anniversary |
$9,000 |
E |
Percentage Reduction in Account
Value |
One Day after the First Contract Anniversary |
10% (= D/B) |
F |
Account Value after Withdrawal |
One Day after the First Contract Anniversary |
$81,000 (= B-D) |
G |
Purchase Payment Reduced for
Withdrawal |
One Day after the First Contract Anniversary |
$90,000
(= A-(A × E)) |
H |
Death Benefit |
One Day after the First Contract Anniversary |
$90,000 (=
greater of F and G) |
4 | |
9 | |
10 | |
14 | |
18 | |
19 | |
19 | |
20 | |
20 | |
20 | |
20 | |
23 | |
23 | |
23 | |
23 | |
24 | |
24 | |
24 | |
25 | |
25 | |
25 | |
25 | |
26 | |
26 | |
26 | |
27 | |
27 | |
31 | |
31 | |
34 | |
35 | |
35 | |
39 | |
41 | |
41 | |
42 | |
42 | |
42 | |
42 | |
44 | |
44 | |
44 | |
44 | |
45 | |
51 | |
51 | |
51 | |
52 | |
52 | |
53 | |
53 |
53 | |
53 | |
54 | |
62 | |
63 | |
63 | |
64 | |
64 | |
64 | |
64 | |
64 | |
65 | |
65 | |
65 | |
66 | |
67 | |
67 | |
67 | |
67 | |
68 | |
69 | |
69 | |
69 | |
69 | |
69 | |
69 | |
69 | |
69 | |
70 | |
A-1 | |
B-1
| |
C-1 | |
D-1
| |
E-1 | |
F-1
| |
G-1 |
Guaranteed Lifetime Withdrawal
Benefit – Brighthouse Pay Plus Rider |
The GLWB rider guarantees that you will receive lifetime income regardless of
market performance. Specifically, the GLWB provides Annual
Benefit Payments based on a percentage of your GLWB Base. The
GLWB rider is automatically included with your Contract, and we
charge an annual fee for this benefit (regardless of whether or
not you utilize the benefit). This Rider Charge is equal to the
Rider Fee Rate, a percentage specified in the GLWB Supplement and will not change with respect to your specific Contract. We offer two variations of the GLWB rider: Market Growth and Market Growth
with Rollup. When you purchase the Contract, you must choose either Market
Growth or Market Growth with Rollup. The Withdrawal Rates,
Lifetime Guarantee Rates, and availability of a Rollup Rate
will vary depending on the variation you choose. Market Growth
with Rollup will generally have lower Withdrawal Rates and
Lifetime Guarantee Rates than Market Growth. The initial GLWB
Base is equal to your Purchase Payment. On each Contract
Anniversary, the GLWB Base can increase. •For Market Growth, the GLWB Base will increase if, on the Contract Anniversary, the Account Value exceeds the GLWB Base. The increase occurs through an Automatic Step-Up (on each Contract Anniversary prior
to the Owner’s 91st birthday); and •For Market Growth with Rollup, the increase occurs through a Rollup Rate
not taken a withdrawal in that Contract Year) and an Automatic
Step Up (if the Account Value exceeds the GLWB Base after we
apply the Rollup). On and after the Annual Benefit Commencement
Date, you can withdraw up to the Annual Benefit Payment in a
Contract Year without impacting your GLWB Base and Net Purchase
Payment Amount. If you take an Early Withdrawal or an Excess
Withdrawal, your GLWB Base and Net Purchase Payment Amount will be reduced in the same proportion (i.e., the same percentage) that these
withdrawals reduce your Account Value. These reductions could be
significant. The GLWB rider cannot be cancelled but will be
terminated under certain circumstances. See “Operation of
the GLWB—Termination of the GLWB Rider.” The GLWB
base cannot be withdrawn in a lump sum or paid as a death benefit.
The Rider Charge, Withdrawal Rates, Lifetime Guarantee Rates, Lifetime
Withdrawal Age, Earliest Annual Benefit Commencement Date,
allocation options available after the Annuity Benefit
Commencement Date, and, if applicable, Rollup Rate
(collectively the “GLWB Terms”) are disclosed in the
GLWB Supplement. We cannot change these terms for your Contract once it is
issued.
Your financial representative will give you a copy of the prospectus with the
GLWB Supplement when you apply for a Contract. The GLWB
Supplement does not change for a given purchaser once issued.
You should not purchase the Contract without first obtaining
the current GLWB Supplement. Once a GLWB Supplement is
effective, it will remain in effect until it is superseded at
any time when we publish a new GLWB Supplement. If we make any
changes, we will supplement the prospectus at least seven calendar days before they take effect on our website at [https://
shield-level-pay-plus-annuities/]. The GLWB Supplement is also filed on EDGAR at www.sec.gov pursuant to Rule 424(b)(2) under the Securities Act of
1933, as a 424B2 form type filing (File Number [333-]). You can contact us to
receive the GWLB Supplement applicable to your Contract by
calling our Annuity Service Office at the toll-free telephone
number provided in this prospectus. |
Purchase Payment |
The minimum Purchase Payment: $25,000. Prior approval required for a
Purchase Payment of less than $25,000 or $1,000,000 or
more. |
Owner and Annuitant Issue Ages |
50-85 |
Contract Periods |
The Contract has two periods: •The Accumulation Period, the period prior to the Annuity Date; and •The Annuity Period, which begins on the Annuity Date and during which
Annuity Payments are provided. |
Account Value |
The total of the Fixed Account Value, the value of the Shield Option(s), and
the Holding Account value under the Contract during the
Accumulation Period. |
Shield Option |
Each Shield Option has an associated Term, Index, Shield Rate and Rate
Crediting Type. The Shield Options available before the Annual
Benefit Commencement Date may vary from the Shield Options
available after the Annual Benefit Commencement Date. For the
Shield Options available before the Annual Benefit Commencement
Date, see “SHIELD OPTIONS” in this prospectus. For
the Shield Options available after the Annual Benefit
Commencement Date, see your GLWB Supplement. |
Term |
The Term may be 1, 2, 3, or 6 years in length. |
Index |
The current Indices are as follows: •S&P 500® Index (Price Return Index); •Russell 2000® Index (Price Return Index); •MSCI EAFE Index (Price Return Index); and •Nasdaq-100 Index® (Price Return Index). |
Shield Rate |
We currently offer different levels of protection:
Shield 10 — A Shield Rate where negative Index Performance of up to 10% of
your Investment Amount is absorbed by us at the Term End Date, which would
leave you to absorb any remaining negative Index Performance of
up to 90% of your Investment Amount.
Shield 15 — A Shield Rate where negative Index Performance of up to 15% of
your Investment Amount is absorbed by us at the Term End Date, which would
leave you to absorb any remaining negative Index Performance of
up to 85% of your Investment Amount.
Shield 25 — A Shield Rate where negative Index Performance of up to 25% of
your Investment Amount is absorbed by us at the Term End Date, which would
leave you to absorb any remaining negative Index Performance of
up to 75% of your Investment Amount. |
Rate Crediting Type |
A Shield Option can only have one associated Rate Crediting Type: either Cap
Rate, Step Rate, or Step Rate Edge. |
Interim Value |
The Interim Value is designed to represent the fair value of the Shield
Option on each Business Day between the Term Start Date and
Term End Date, taking into account the potential gain or loss
of the applicable Index at the end of the Term. The Interim
Value reflects the change in fair value due to economic factors
of the investment instruments (including derivatives) supporting the Shield Options. The Interim Value is the amount that is available for
annuitization, death benefits, withdrawals, and Surrenders. For each Shield
Option, we assign the value of Interim Value on any Business
Day other than the Term Start Date and Term End Date. The
Interim Value may be less than the Investment Amount at the
time the Interim Value is calculated even when the current
Index Value is higher than it was on the Term Start Date. See “Interim Value Calculation.” |
Transfers |
During the Accumulation Period you may make transfers to the Fixed Account
and/or to new Shield Option(s). You may only transfer during
the Transfer Period. The effective date of such transfer is the
first day of the Fixed Account Term and/or the Term(s) in which
the transfer is made. Partial transfers of a
Shield Option are not permitted except during the Transfer Period. See “TRANSFERS.” |
Fixed Account |
See Appendix D. |
Access to Your Money |
You may withdraw some or all of your money at any time prior to the Annuity
Date. For any withdrawal taken on a Term End Date, a
Performance Rate Adjustment, as of the date of the withdrawal,
will apply. For any withdrawal taken between the Term Start
Date and the Term End Date, we use an Interim Value
calculation, which will reduce the Investment Amount for that Shield Option by the percentage reduction in the Interim Value of that Shield Option.
The Performance Rate Adjustment and reduction (either proportionate or dollar
for dollar) may be substantial.
Early Withdrawals and Excess Withdrawals will reduce your GLWB Base and
Net Purchase Payment Amount. |
Withdrawal Charge |
None. |
Systematic Withdrawal Program |
On or after the Annual Benefit Commencement Date, you may
elect the Systematic Withdrawal Program to
provide automated processing of amounts withdrawn from
your Contract, subject to program terms. We do not assess a
charge for the program and you may terminate your participation in the program at any time. The total withdrawals under the Systematic
Withdrawal Program in the Contract Year cannot exceed an amount equal to
the Annual Benefit Payment. Moreover, since withdrawal amounts
from a Shield Option will reduce the Investment Amount for that
Shield Option by the percentage reduction in the Interim Value
of that Shield Option, a withdrawal when Interim Value is less
than the Investment Amount will cause a greater percentage
reduction in the Investment Amount that remains in your Shield
Option relative to the percentage reduction for the same withdrawal amount
when Interim Value is greater than the Investment Amount. Since
withdrawals under the Systematic Withdrawal
Program are automatic, you will have no control over the
timing of those withdrawals. See “WITHDRAWAL PROVISIONS
– Systematic Withdrawal Program” for availability and other
restrictions. While the Systematic Withdrawal Program is in
effect, you can make additional withdrawals outside of the
program. However, such withdrawals that exceed the Annual
Benefit Payment will be considered Excess Withdrawals and will
reduce the GLWB Base and Net Purchase Payment Amount. Those reductions
may be significant and could have the effect of, in turn,
reducing or eliminating the guarantees of the GLWB
rider. |
Death Benefit |
For Owners age 81 or older at the Issue Date of the Contract, the standard
death benefit is the Account Value. For Owners age 80 or
younger at the Issue Date of the Contract, the standard death
benefit (known as the Return of Premium death benefit) is the
greater of the Account Value or your Purchase Payment (reduced
proportionally by the percentage reduction in Account Value of
the Shield Option(s), the Fixed Account, and the Holding Account for each partial withdrawal (including withdrawals to pay for advisory fees)). The Death
Benefit Amount is determined as of the end of the Business Day on which we
receive Notice of due proof of death and an acceptable election
for the payment method. |
Annuity Options |
You can choose an Annuity Option. After Annuity Payments begin, you cannot
change the Annuity Option. You can choose one of the following
Annuity Options on a fixed payment basis or any other Annuity
Option acceptable to us: (i)Life Annuity with 10 Years of Annuity Payments Guaranteed;
and (ii)Joint and Last Survivor Annuity with 10 Years of Annuity Payments Guaranteed. The Annuity Options may be limited due to the requirements of the Code. |
Charges and Expenses |
You will bear the following charges and expenses: (i) Rider Charge; (ii)Premium Tax and other taxes. See also “Fee-Based Expenses” below. |
Your Right to Cancel |
You may cancel the Contract within a certain time period after receiving it by
mailing or delivering the Contract to either us or the financial advisor who
sold it. This is known as a “Free Look.” Unless
otherwise required by state law, we will return either your
Purchase Payment or Account Value, depending on your
state. |
SHIELD OPTIONS available before the Annual Benefit Commencement Date | |
TERM |
INDEX |
SHIELD 25 (up to 25% downside protection) | |
1 Year |
S&P 500® Index
Russell 2000® Index
MSCI EAFE Index Nasdaq-100 Index® |
6 Year |
S&P 500® Index
Russell 2000® Index
MSCI EAFE Index Nasdaq-100 Index® |
SHIELD 15 (up to 15% downside protection) | |
1 Year |
S&P 500® Index
S&P 500® Index Step Rate
S&P 500® Index Step Rate Edge
Russell 2000® Index
Russell 2000® Index Step Rate
Russell 2000® Index Step Rate Edge
MSCI EAFE Index MSCI EAFE Index Step Rate MSCI
EAFE Index Step Rate Edge Nasdaq-100 Index® Nasdaq-100 Index® Step Rate Nasdaq-100 Index® Step Rate Edge |
2 Year |
S&P 500® Index Step Rate S&P
500® Index Step Rate Edge
Russell 2000® Index Step Rate
Russell 2000® Index Step Rate Edge
MSCI EAFE Index Step Rate MSCI EAFE Index Step Rate Edge
Nasdaq-100 Index® Step Rate
Nasdaq-100 Index® Step Rate Edge |
SHIELD OPTIONS available before the Annual Benefit Commencement Date | |
TERM |
INDEX |
3 Year |
S&P 500® Index
Russell 2000® Index
MSCI EAFE Index Nasdaq-100 Index® |
6 Year |
S&P 500® Index
Russell 2000® Index
MSCI EAFE Index Nasdaq-100 Index® |
SHIELD 10 (up to 10% downside protection) | |
1 Year |
S&P 500® Index
S&P 500® Index Step Rate
S&P 500® Index Step Rate Edge
Russell 2000® Index
Russell 2000® Index Step Rate
Russell 2000® Index Step Rate Edge
MSCI EAFE Index MSCI EAFE Index Step Rate MSCI
EAFE Index Step Rate Edge Nasdaq-100 Index® Nasdaq-100 Index® Step Rate Nasdaq-100 Index® Step Rate Edge |
2 Year |
S&P 500® Index Step Rate
S&P 500® Index Step Rate Edge
Russell 2000® Index Step Rate
Russell 2000® Index Step Rate Edge
MSCI EAFE Index Step Rate MSCI EAFE Index Step Rate Edge
Nasdaq-100 Index® Step Rate
Nasdaq-100 Index® Step Rate Edge |
3 Year |
S&P 500® Index
Russell 2000® Index
MSCI EAFE Index Nasdaq-100 Index® |
6 Year |
S&P 500® Index Russell 2000® Index
MSCI EAFE Index Nasdaq-100 Index® |
Shield Rate |
Downside Protection |
Shield 10 |
up to 10% |
Shield 15 |
up to 15% |
Shield 25 |
up to 25% |
Shield Option type: |
If Index Performance is: |
Performance Rate will equal: |
Shield Options with a Cap Rate |
less than or equal to zero |
the lesser of: zero or the Index Performance increased by the Shield Rate (For example: a -15% Index Performance with Shield 10 will result in a -5% Performance Rate. The Performance Rate can never be greater than zero if the Index Performance is negative.) |
|
greater than zero and less than the
Cap Rate |
the Index Performance |
|
greater than zero and equals or
exceeds the Cap Rate |
the Cap Rate |
Shield Options with a Step Rate |
less than zero |
the lesser of: zero or the Index Performance increased by the Shield Rate (For example: a -15% Index Performance with Shield 10 will result in a -5% Performance Rate. The Performance Rate can never be greater than zero if the Index Performance is negative.) |
|
equal to or greater than zero |
the Step Rate |
Shield Options with Step Rate Edge |
less than zero and exceeds the Shield
Rate |
Index Performance increased by the Shield Rate (For example: a -15% Index Performance with Shield 10 will result in a -5% Performance Rate.) |
|
less than zero but does not exceed
the Shield Rate |
the Edge Rate |
|
zero or positive |
the Edge Rate |
Contract Year |
1 |
2 |
3 |
4 |
5 |
Term Start Date | |||||
Investment Amount(1) |
$50,000 |
$55,000 |
$57,750 |
$57,750 |
$57,750 |
Index Value |
1,000 |
1,200 |
1,260 |
1,260 |
1,197 |
Term End Date | |||||
Index Value |
1,200 |
1,260 |
1,260 |
1,197 |
1,017 |
Index Performance(2) |
20% |
5% |
0% |
-5% |
-15% |
Cap Rate |
10% |
10% |
10% |
10% |
10% |
Shield Rate |
10% |
10% |
10% |
10% |
10% |
Performance Rate (one year)(3) |
10% |
5% |
0% |
0% |
-5% |
Performance Rate Adjustment(4) |
$5,000 |
$2,750 |
$0 |
$0 |
-$2,888 |
Investment Amount(5) |
$55,000 |
$57,750 |
$57,750 |
$57,750 |
$54,862 |
Contract Year |
1 |
2 |
3 |
4 |
5 |
Term Start Date | |||||
Investment Amount(1) |
$50,000 |
$54,000 |
$58,320 |
$62,986 |
$62,986 |
Index Value |
1,000 |
1,050 |
1,260 |
1,260 |
1,134 |
Term End Date | |||||
Index Value |
1,050 |
1,260 |
1,260 |
1,134 |
964 |
Index Performance(2) |
5% |
20% |
0% |
-10% |
-15% |
Step Rate |
8% |
8% |
8% |
8% |
8% |
Shield Rate |
10% |
10% |
10% |
10% |
10% |
Performance Rate (one year)(3) |
8% |
8% |
8% |
0% |
-5% |
Performance Rate Adjustment(4) |
$4,000 |
$4,320 |
$4,666 |
$0 |
-$3,149 |
Investment Amount(5) |
$54,000 |
$58,320 |
$62,986 |
$62,986 |
$59,837 |
Contract Year |
1 |
2 |
3 |
4 |
5 |
Term Start Date | |||||
Investment Amount(1) |
$50,000 |
$53,500 |
$57,245 |
$61,252 |
$65,540 |
Index Value |
1,000 |
1,050 |
1,260 |
1,260 |
1,134 |
Term End Date | |||||
Index Value |
1,050 |
1,260 |
1,260 |
1,134 |
964 |
Index Performance(2) |
5% |
20% |
0% |
-10% |
-15% |
Edge Rate |
7% |
7% |
7% |
7% |
7% |
Shield Rate |
10% |
10% |
10% |
10% |
10% |
Performance Rate (one year)(3) |
7% |
7% |
7% |
7% |
-5% |
Performance Rate Adjustment(4) |
$3,500 |
$3,745 |
$4,007 |
$4,288 |
-$3,277 |
Investment Amount(5) |
$53,500 |
$57,245 |
$61,252 |
$65,540 |
$62,263 |
|
Step Rate Edge |
Step Rate |
Cap Rate |
Cap Rate |
Term (in months) |
12 |
24 |
36 |
72 |
Months elapsed since Term Start Date |
0 |
0 |
0 |
0 |
Investment Amount |
$50,000 |
$50,000 |
$50,000 |
$50,000 |
Shield Rate |
10% |
15% |
10% |
25% |
Shield Option Rate |
8.25% |
18% |
130% |
200% |
Months until Term End Date |
12 |
24 |
36 |
72 |
Market Value Rate on Term Start Date |
2.00% |
4.00% |
6.00% |
8.00% |
Starting Index Value |
1,000 | |||
Total Account Value |
$200,000 |
|
Step Rate Edge |
Step Rate |
Cap Rate |
Cap Rate |
Months elapsed since Term Start Date |
6 | |||
Months until Term End Date |
6 |
18 |
30 |
66 |
Index Value |
1200 | |||
Index Performance on calculation date(1) |
20% | |||
Market Value Rate on calculation date |
3.00% |
5.00% |
7.00% |
9.00% |
Market value of the Fixed Income Asset Proxy |
$48,823.16 |
$46,519.03 |
$42,116.56 |
$34,758.31 |
Market value of the Derivative Asset Proxy |
$3,848.51 |
$6,526.00 |
$16,069.42 |
$21,946.25 |
Interim Value of each Shield Option(2) |
$52,671.67 |
$53,045.03 |
$58,185.98 |
$56,704.57 |
Total Account Value |
$220,607.25 |
|
Step Rate Edge |
Step Rate |
Cap Rate |
Cap Rate |
Months elapsed since Term Start Date |
6 | |||
Months until Term End Date |
6 |
18 |
30 |
66 |
Index Value |
700 | |||
Index Performance on calculation date(1) |
-30% | |||
Market Value Rate on calculation date |
3.00% |
5.00% |
7.00% |
9.00% |
Market value of the Fixed Income Asset Proxy |
$48,823.16 |
$46,519.03 |
$42,116.56 |
$34,758.31 |
Market value of the Derivative Asset Proxy |
-$8,899.83 |
-$5,554.28 |
-$5,794.44 |
$2,103.07 |
Interim Value of each Shield Option(2) |
$39,923.32 |
$40,964.75 |
$36,322.12 |
$36,861.38 |
Total Account Value |
$154,071.57 |
Term Start Date | |
Investment Amount |
$50,000 |
Shield Rate |
Shield 10 |
Cap Rate |
10% |
Index Value |
500 |
Interim Value Calculation Halfway Through Term
| |
Index Value |
600 |
Index Performance(1) |
20% |
Time Remaining in Shield Option (in months) |
6 |
Market Value Rate on calculation date |
3% |
Market value of Fixed Income Asset Proxy |
$49,452.40 |
Market value of Derivative Asset Proxy |
$4,062.37 |
Interim Value of Shield Option(2) |
$53,514.77 |
Withdrawal Amount taken |
$20,000 |
Investment Amount at Term Start Date adjusted for any withdrawals(3) |
$31,313.57 |
Net Proceeds from withdrawal paid to Contract Owner(4) |
$20,000 |
Term End Date | |
Index Value |
700 |
Index Performance(5) |
40% |
Performance Rate(6) |
10% |
Performance Rate Adjustment(7) |
$3,131.36 |
Investment Amount(8) |
$34,444.93 |
Term Start Date | |
Investment Amount |
$50,000 |
Shield Rate |
Shield 10 |
Cap Rate |
10% |
Index Value |
500 |
Interim Value Calculation Halfway Through Term
| |
Index Value |
400 |
Index Performance(1) |
–20% |
Time Remaining in Shield Option (in months) |
6 |
Market Value Rate on calculation date |
3% |
Market value of Fixed Income Asset Proxy |
$49,452.40 |
Market value of Derivative Asset Proxy |
–$4,661.31 |
Interim Value of Shield Option (sum of 1+2)(2) |
$44,791.09 |
Withdrawal Amount taken |
$20,000 |
Investment Amount adjusted for any withdrawals(3) |
$27,674.13 |
Net Proceeds from Withdrawal paid to Contract Owner(4) |
$20,000 |
Term End Date | |
Index Value |
450 |
Index Performance(5) |
–10% |
Performance Rate(6) |
0% |
Performance Rate Adjustment(7) |
$0 |
Investment Amount(8) |
$27,674.13 |
Contract Year |
1 |
Term Start Date | |
Investment Amount |
$50,000 |
Index Value |
1,000 |
Term End Date | |
Index Value |
1,200 |
Index Performance(1) |
20% |
Cap Rate |
10% |
Shield Rate |
Shield 10 |
Performance Rate (one year)(2) |
10% |
Performance Rate Adjustment(3) |
$5,000 |
Investment Amount(4) |
$55,000 |
Contract Year |
2 | |
|
1-Year Term / Shield 10 / S&P 500® Index with a Cap Rate of 10% |
1-Year Term / Shield 10 / Russell
2000® Index with a Cap Rate of 12% |
Investment Amount at Term Start Date
(second term)(1) |
$27,500 |
$27,500 |
If you… |
Your “Applicable Age”
is… |
Were born on or before June 30, 1949 |
70½ |
Were born on or after July 1, 1949 (and attain age 72 prior to
|
72 |
Attain age 72 on or after January 1, 2023 (and attain age 73 on or
before December 31, 2032) |
73* |
Attain age 74 on or after January 1, 2033 |
75* |
Plan Type |
Elective Contribution |
Catch-up Contribution |
IRA |
$6,500 |
$1,000 |
SIMPLE IRA |
$15,500 |
$3,500 |
401(k) |
$22,500 |
$7,500 |
SEP/401(a) |
(Employer contributions only) |
|
403(b) [TSA] |
$22,500 |
$7,500 |
457(b) |
$22,500 |
$7,500 |
•Requests to receive regular Annuity Payments
Payments |
|
•Death Claims for Contracts receiving Annuity Payments Payments |
|
•General requests and elections for Contracts receiving Annuity Payments Payments |
|
All other requests and elections and general inquiries
|
Investment Amount at Term Start Date |
$100,000 |
Term |
1-Year |
Initial Index |
S&P 500® Index |
Index Value on Term Start Date for S&P 500® Index |
1,400 |
Cap Rate |
10% |
Shield Rate |
10% |
Index substitution |
|
Number of days since Term Start Date |
183 |
Index Value for S&P 500® Index |
1,330 |
Index Performance for S&P 500® Index(1) |
–5% |
Substituted Index |
Russell 2000® Index |
Index Value for Russell 2000® Index on substitution
date |
1,250 |
Index Value for Russell 2000® Index |
1,375 |
Index Performance for S&P 500® Index(1) |
–5% |
Index Performance for Russell 2000® Index(2) |
10% |
Total Index Performance for the Term(3) |
4.5% |
Cap Rate |
10% |
Shield Rate |
10% |
Performance Rate(4) |
4.5% |
Performance Rate Adjustment(5) |
$4,500 |
Investment Amount at Term End Date(6) |
$104,500 |
|
|
Date |
Amount |
A |
Purchase Payment |
Issue Date |
$100,000 |
B |
Account Value |
First Contract Anniversary |
$90,000 |
C |
Death Benefit |
First Contract Anniversary |
$100,000
(= greater of A and B) |
D |
Withdrawal |
One Day after the First Contract Anniversary |
$9,000 |
E |
Percentage Reduction in Account
Value |
One Day after the First Contract Anniversary |
10% (= D/B) |
F |
Account Value after Withdrawal |
One Day after the First Contract Anniversary |
$81,000 (= B-D) |
G |
Purchase Payment Reduced for
Withdrawal |
One Day after the First Contract Anniversary |
$90,000
(= A-(A × E)) |
H |
Death Benefit |
One Day after the First Contract Anniversary |
$90,000 (=
greater of F and G) |
/s/ Eric Steigerwalt* |
Chairman of the Board, President, Chief Executive Officer and a Director |
/s/ Myles Lambert* |
Director and Vice President |
/s/ David A. Rosenbaum* |
Director and Vice President |
/s/ Jonathan Rosenthal* |
Director, Vice President and Chief Investment Officer |
/s/ Edward A. Spehar* |
Director, Vice President and Chief Financial Officer |
/s/ Kristine Toscano* |
Vice President and Chief Accounting Officer |
Vice President and Controller | |
*By: /s/ Michele H. Abate |
|
This ‘S-3’ Filing | Date | Other Filings | ||
---|---|---|---|---|
1/1/33 | ||||
12/31/32 | ||||
1/1/26 | ||||
Filed on: | 1/30/24 | S-3 | ||
1/23/24 | ||||
1/1/23 | ||||
12/29/22 | ||||
2/16/21 | ||||
1/1/20 | ||||
6/21/18 | ||||
12/31/17 | 10-K | |||
6/9/17 | ||||
3/6/17 | 424B3, S-3 | |||
12/31/99 | 10-K, 13F-NT, 13F-NT/A | |||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 1/19/24 Brighthouse Life Insurance Co. S-3 9:2M Donnelley … Solutions/FA 4/14/23 Brighthouse Life Insurance Co. POS AM 4:713K Donnelley … Solutions/FA 7/11/17 Brighthouse Life Insurance Co. S-3/A 5:1.1M Donnelley … Solutions/FA 4/27/17 Brighthouse Life Insurance Co. S-3¶ 14:1.5M Donnelley … Solutions/FA |