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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 8/17/22 Brighthouse Life Ins Co. of NY POS AM 3:1.2M Donnelley … Solutions/FA |
Document/Exhibit Description Pages Size 1: POS AM Brighthouse Shield/R/Level Select 6-Year Annuity HTML 987K 3: EX-FILING FEES Filing Fees HTML 33K 2: EX-99.24 Powers of Attorney HTML 124K
Brighthouse Shield/R/Level Select 6-Year Annuity |
Large accelerated filer filer ☐ |
Accelerated filer filer ☐ |
Non-accelerated filer ☒ (Do not check if a smaller reporting company) |
Smaller reporting company filer ☐ |
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Emerging growth company filer ☐ |
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A-1 | |
B-1 | |
C-1 | |
D-1 |
(i) | BLNY’s Annual Report on Form 10-K for the year ended [ ], as filed with the SEC on [ ] via EDGAR File No. [ ]; | |
(ii) | BLNY’s Quarterly Report on Form 10-Q for the quarter ended [ ], as filed with the SEC on [ ] via EDGAR File No. [ ]; and | |
(iii) | BLNY’s Quarterly Report on Form 10-Q for the quarter ended [ ], as filed with the SEC on [ ] via EDGAR File No. [ ]. |
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 |
0-85 |
Contract Periods |
The Contract has two periods: •The Accumulation Period, the period prior to the Annuity Date; and •The Income Period, which begins on the Annuity Date and during which Income Payments are provided. |
Account Value |
The total of the Fixed Account Value and the value of the Shield Option(s) under
the Contract during the Accumulation Period. |
Shield Option |
Each Shield Option has an associated Term, Index, Shield Rate and Rate
Crediting Type. |
Term |
The Term may be 1, 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); and •MSCI EAFE 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 a Cap
Rate or a Step Rate. |
Interim Value |
For each Shield Option, the value we assign on any Business Day prior to the
Term End Date. The Interim Value of a Shield Option is equal to the
Investment Amount in the Shield Option, adjusted for the Index
Performance of the associated Index and subject to the applicable
Accrued Shield Rate, Accrued Cap Rate or Accrued Step
Rate. |
Transfers |
During the Accumulation Period you may make transfers to the Fixed Account
and/or to new Shield Option(s) during the Transfer Period. The
effective date of such transfer is the first day of the Interest
Rate Term and/or a Term(s) in which the transfer is
made. |
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, a Performance Rate Adjustment, as of the
date of the withdrawal, will apply and may be substantial. In
addition, a withdrawal taken in excess of the Free Withdrawal Amount
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 |
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 Index Performance is negative will cause a
greater percentage reduction in the Investment Amount relative to
the percentage reduction for the same Withdrawal Amount when Index
Performance is positive. 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. |
Death Benefit |
For Owners age 76 or older at the Issue Date of the Contract, the standard
death benefit is the Account Value. For Owners age 75 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) and
the Fixed 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 Income 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; (ii)Life Annuity with 10 Years of Income Payments Guaranteed; (iii)Joint and Last Survivor Annuity; and (iv)Joint and Last Survivor Annuity with 10 Years of Income 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)Withdrawal Charges; and (ii)Premium and Other Taxes. |
Your Right to Cancel |
You may cancel the Contract within 10 days 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.” You will
receive (i) whatever your Contract is worth, plus (ii) the sum of
all fees, taxes and charges deducted from the Purchase Payment
during the Free Look period, as of the effective date of the Free
Look, on the Business Day we receive your Contract and we will not
deduct a Withdrawal Charge. The amount you receive may be more or less than
your Purchase Payment depending on the Shield Options you allocated
your Purchase Payment to during the Free Look period.
|
SHIELD OPTIONS | |
TERM |
INDEX |
SHIELD 25 (up to 25% downside protection) | |
6 Year |
S&P
500® Index
Russell 2000® Index
MSCI EAFE Index |
SHIELD 15 (up to 15% downside protection) | |
3 Year |
S&P
500® Index
Russell 2000® Index
MSCI EAFE Index |
6 Year |
S&P
500® Index
Russell 2000® Index
MSCI EAFE Index |
SHIELD 10 (up to 10% downside protection) | |
1 Year |
S&P
500® Index
S&P
500® Index Step Rate
Russell 2000® Index
Russell 2000® Index Step Rate
MSCI EAFE Index MSCI EAFE Index Step Rate |
3 Year |
S&P
500® Index
Russell 2000® Index
MSCI EAFE Index |
6 Year |
S&P 500® Index Russell 2000® Index
MSCI EAFE 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 (can be positive,
zero or negative) 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 a 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 a 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 |
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 |
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% |
Accrued Cap Rate(2) |
5% |
Performance Rate(3) |
5% |
Performance Rate Adjustment(4) |
$2,500 |
Interim Value(5) |
$52,500 |
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% |
Accrued Shield Rate(2) |
5% |
Performance Rate(3) |
–15% |
Performance Rate Adjustment(4) |
–$7,500 |
Interim Value(5) |
$42,500 |
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% |
Accrued Cap Rate(2) |
5% |
Performance Rate(3) |
5% |
Performance Rate Adjustment(4) |
$2,500 |
Interim Value(5) |
$52,500 |
Withdrawal Amount taken |
$20,000 |
Investment Amount adjusted for any withdrawals(6) |
$30,952 |
Net Proceeds from withdrawal paid to Contract Owner(7) |
$20,000 |
Term End Date | |
Index Value |
700 |
Index Performance(8) |
40% |
Performance Rate(9) |
10% |
Performance Rate Adjustment(10) |
$3,095 |
Investment Amount(11) |
$34,047 |
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% |
Accrued Shield Rate(2) |
5% |
Performance Rate(3) |
–15% |
Performance Rate Adjustment(4) |
–$7,500 |
Interim Value Halfway Through Term(5) |
$42,500 |
Withdrawal Amount taken |
$20,000 |
Investment Amount adjusted for any withdrawals(6) |
$26,471 |
Free Withdrawal Amount(7) |
$5,000 |
Withdrawal Charge Amount(8) |
$1,050 |
Net Proceeds from Withdrawal paid to Contract Owner(9) |
$18,950 |
Term End Date | |
Index Value |
450 |
Index Performance(10) |
–10% |
Performance Rate(11) |
0% |
Performance Rate Adjustment(12) |
$0 |
Investment Amount(13) |
$26,471 |
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 |
Plan Type |
Elective Contribution |
Catch-up Contribution |
IRA |
$6,000 |
$1,000 |
SIMPLE IRA |
$14,000 |
$3,000 |
401(k) |
$20,500 |
$6,500 |
SEP/401(a) |
(Employer contributions only) |
|
403(b) [TSA] |
$20,500 |
$6,500 |
457(b) |
$20,500 |
$6,500 |
Investment Amount at Term Start Date |
$100,000 |
Term |
1-Year |
Initial Index |
S&P 500® Index |
S&P 500® Index Index Value on Term Start
Date |
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/ David A. Rosenbaum* |
Chairman of the Board, President, Chief Executive Officer and a Director |
/s/ David W. Chamberlin* |
Director |
/s/ Jeffrey P. Halperin* |
Director and Vice President |
/s/ Michael J. Inserra* |
Director |
/s/ Mayer Naiman* |
Director |
/s/ Richard C. Pearson* |
Director |
/s/ Douglas A. Rayvid* |
Director |
/s/ Kristine Toscano* |
Vice President and Chief Financial Officer |
Vice President and Controller |
This ‘POS AM’ Filing | Date | Other Filings | ||
---|---|---|---|---|
1/1/26 | ||||
Filed on: | 8/17/22 | |||
8/11/22 | ||||
1/1/20 | ||||
12/31/17 | 10-K | |||
3/6/17 | 8-K, EFFECT, S-3 | |||
12/31/99 | ||||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 7/11/17 Brighthouse Life Ins Co. of NY S-3/A 5:1.1M Donnelley … Solutions/FA 4/27/17 Brighthouse Life Ins Co. of NY S-3¶ 14:1.4M Donnelley … Solutions/FA |