Form 497VPI Brighthouse Life Insuran
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Brighthouse Retirement Perspectives
ISSUED BY
BRIGHTHOUSE LIFE INSURANCE COMPANY
Summary Prospectus for New Investors
April 27, 2026
A Flexible Premium Variable and Fixed Annuity Contract
This Summary Prospectus summarizes key features Brighthouse Retirement Perspectives,
Gold Track VSP, and Unregistered Gold Track are each a Contract, a flexible premium variable and fixed annuity contract issued by Brighthouse Life Insurance Company (the
“Company,” or “We,” “Us,” or “Our”), which is available on a group basis. Before You invest, You should also review the prospectus
for the Contract, which contains more information about the Contract’s features, benefits, and risks. You can
find this document and other information about the Contract online at https://dfinview.com/BHF/PUFT/BHF123. You can also
obtain this information at no cost by calling (833) 208-3018 or by sending an email request to [email protected].
* * * * *
* * * * * * *
The Contract is a complex investment and involves risks, including potential loss of principal. The Contract is not a short-term investment and is not
appropriate for an investor who needs ready access to cash. Full and partial surrenders from the Contract could
result in withdrawal charges, taxes, and tax penalties. In addition, certain withdrawals from the Fixed Account will also be subject to a Market
Value Adjustment that may result in loss, including full surrenders due to discontinuation of the Contract during the Accumulation Period. In extreme circumstances, You could lose up to 100% of the amount withdrawn or surrendered from the Fixed Account due to a negative Market Value
Adjustment.
Our obligations under the Contract are subject to Our financial strength and claims-paying ability. Additional general information about certain investment products, including annuities, has been prepared by the Securities and Exchange
Commission’s staff and is available at Investor.gov.
The Securities and Exchange Commission has not approved or disapproved these securities or the adequacy of this prospectus. Any representation to the contrary is a criminal offense.
Glossary
Accumulation Period — the period before the commencement of Annuity
payments.
Annuitant — a person on whose life the
Maturity Date depends and Annuity
Payments are made.
Annuity — payment of income for a stated period or amount.
Annuity Payments — a series of
periodic payments (i) for life; (ii) for life with a minimum number of payments; (iii) for the joint lifetime of the Annuitant and another person, and thereafter during the lifetime of the survivor; or (iv) for a fixed period.
Annuity Period — the period
following commencement of Annuity payments.
Beneficiary(ies) — the person(s) or trustee designated to receive any remaining contractual benefits
in the event of a Participant’s,
Annuitant’s or Contract
Owner’s death, as applicable.
Business Day — a day on which the New
York Stock Exchange (“NYSE”) is open for business.
Cash Surrender Value — the Contract Value less any amounts deducted
upon a withdrawal or surrender, outstanding loans, if available under the Contract, any applicable Premium Taxes or other surrender
charges not previously deducted.
Code — the Internal Revenue Code of 1986, as amended, and all related laws and regulations that are in effect during the term of this Contract.
Competing
Fund — any investment option under the Plan, which, in Our opinion, consists primarily of fixed-income securities and/or money market instruments.
Contract
— for convenience, means the Contract or Certificate (if applicable). For example, Contract Year also
means Certificate Year.
Contract Date — the date on
which the Contract is issued. For certain group Contracts, it is the date on which the Contract becomes effective, as shown on the specifications page of the Contract.
Contract Owner — the person named in the Contract (on the
specifications page). For certain group Contracts, the Contract Owner is the trustee or other entity which owns the Contract.
Contract Value — the value of the
Accumulation Units in Your Account (or a Participant’s Individual Account, if applicable) less any reductions for administrative charges (hereinafter referred to in this prospectus as Contract
Value).
Contract Year — twelve-month periods
beginning with the Contract Date, or any anniversary thereof.
Fixed
Account — an account that consists of all of the assets under the
Contract other than those in the Separate
Account. The Fixed Account is part of the general assets of the Company.
Fixed Annuity — an Annuity payout option with payments which remain fixed as to dollar amount throughout the payment period and which do not vary with the investment experience of a Separate Account.
Funding Options — the variable
investment options to which Purchase Payments under the Contract may be allocated. Funding Options are also referred to as
“Subaccounts.”
Good Order
— A request or transaction generally is considered in “Good Order” if it complies with
Our administrative procedures and the required information is complete and accurate. A request or transaction may be rejected or delayed if not in Good Order. Good Order generally means the actual receipt by Us of the instructions relating to the requested transaction in writing (or, when permitted, by telephone or Internet) along with all forms,
information and supporting legal documentation necessary to effect the transaction. We may, in Our sole discretion, determine whether any particular transaction request is in Good Order, and We reserve the right to change or waive any Good
Order requirement at any time.
Guarantee Period — The period
through the end of the first calendar year during which the Contract was purchased and successive 12-month periods thereafter during which a Guaranteed Interest Rate is
credited.
Home Office — the Home Office of Brighthouse Life Insurance Company, 11225 North Community House Road, Charlotte, NC 28277, or any other office that We may designate for the purpose of administering this Contract. For detailed instructions on how to submit requests, elections, and inquiries, please see "Contract Owner Requests,
3
Elections, and Inquiries" in the prospectus.
Unless We designate a different office, the office that administers the Contract is located at P.O. Box 4261,
Clinton, IA 52733-4261.
Market Value Adjustment — applies to certain withdrawals from the Fixed Account including full withdrawals due to
discontinuation of the Contract during the
Accumulation Period. In the event of a discontinuance, the Market Value Adjustment reflects the relationship, at
the time of surrender, between the rate of interest credited to funds on deposit under the Fixed Account at the time of discontinuance to the rate of interest credited on new deposits at the time of discontinuance. This
calculation may result in a Market Value Adjustment, positive or negative, applied to Your withdrawal.
Maturity
Date — The Maturity Date is the date on which Annuity
Payments are to begin.
Participant — an individual participating under a group Contract or
an eligible person who is a member in the Plan under Section 401(k) and Keoghs..
Plan — for a group Contract, the plan or the arrangement used in a retirement
plan or program whereby Purchase Payments and any gains are intended to qualify under Section 401 of the Internal Revenue Code.
Plan
Administrator — The corporation or other entity so specified on the application or purchase order. If none is specified, the Plan Trustee is the Plan
Administrator.
Plan
Trustee — The trustee specified in the Contract specifications.
Premium
Tax — the amount of tax, if any, charged by the state or municipality on Purchase Payments.
Purchase Payments — the premium
payment(s) applied to the Contract, less any
Premium Taxes (if applicable).
Separate
Account — a segregated account, the assets of which are invested solely in the Underlying Funds. The assets of the Separate Account are held exclusively for the benefit of Contract
Owners.
Subaccount – that portion of the assets of a Separate Account that is allocated to a particular
Underlying Funds. SubAccounts are also referred to as "Funding
Options."
Underlying Fund — a portfolio
of an open-end management investment company that is registered with the Securities and Exchange Commission (the “SEC””) in which the Subaccounts invest. May also be referred to as "Portfolio
Company."
Variable Annuity — an Annuity payout option providing for payments varying in amount in accordance with the investment experience of the assets held in the underlying securities of the Separate Account.
You, Your
— “You,” depending on the context, may be the Certificate holder, the Participant or the Contract Owner and a natural person, a trust established for the benefit of a natural person or a charitable remainder trust, or a
Plan (or the employer purchaser who has
purchased the Contract on behalf of the
Plan).
4
Overview of the Contract
Purpose. The Contract is a variable and fixed annuity contract, which is available on a group basis. It provides a means for investing on a
tax-deferred basis in the Contract’s Funding Options and (if available) the Fixed
Account, together “investment options.” The Contract is designed generally for an investor who
intends to hold the Contract for a long period of time and then use the Contract Value (in the form of either withdrawals or Annuity
Payments) for retirement saving or other long-term investment purposes. The Contracts offered by Brighthouse Life Insurance Company are designed for use in conjunction with certain qualified Plans including tax-qualified pension or profit-sharing Plans under Section 401 of the Code. The Contract has various features and benefits that
may be appropriate for You based on Your financial situation and objectives. The Contract may include certain
death benefit features, which can be used to transfer assets to Your Beneficiaries. If You are investing in this Contract through a Plan,
it does not provide any additional tax deferral benefits beyond those provided by the Plan. Accordingly, if You are investing in this Contract through a Plan, You should consider investing in the
Contract for its death benefit,
annuity option benefits or other non-tax
related benefits. Your financial goal in acquiring the Contract should take into account the fact that there
are withdrawal charges under the Contract,
as well as a Market Value Adjustment on certain withdrawals from the Fixed Account, including full surrenders due to
discontinuation of the Contract during the Accumulation Period. Because of the withdrawal charge (which is in effect for many years) and the possibility of income tax and tax penalties on early
withdrawals, the Contract should not be
viewed as an investment vehicle offering low cost liquidity. Your financial goal in acquiring the
Contract should focus on a long-term insurance product, offering the prospect of investment growth.
Phases of the Contract. The Contract has two phases: The Accumulation Period and the
Annuity Period. During the Accumulation
Period, earnings accumulate on a tax-deferred basis and are taxed as income when You make a withdrawal. To help
You accumulate assets during the Accumulation Period, You can invest Your Purchase Payments and Contract Value in: (1) Funding Options available under the Contract, each of which has an Underlying Fund with its own investment strategies and risks; investment adviser(s); expense ratio; and performance history; and, if
available (2) the Fixed Account option,
which guarantees principal and interest.
Additional information about the investment options in which You can invest is provided in Appendix A.
The Annuity Period occurs when You begin receiving
Annuity Payments from Your Contract. The amount of money You accumulate in Your Contract during the Accumulation
Period factors into the amount of income You receive during the Annuity Period. You may choose one of a number of Annuity options:
You may receive income payments in the form of a Variable Annuity, a Fixed Annuity, or a combination of both. In
general, You are unable to take withdrawals during the Annuity Period. There is no death benefit during the Annuity Period;
however, depending on the Annuity option
You elect, any remaining guarantee upon death may be paid to Your Beneficiary(ies).
Contract Features.
The following is a brief description of the Contract’s primary features.
Subject to Plan Terms. If You participate through a retirement Plan or other group arrangement, the Contract may
provide that all or some of Your rights or choices are subject to the Plan’s terms. For example, limitations on Your rights may apply to Funding Options, Purchase Payments, withdrawals, transfers, Plan loans, the death benefit
and Annuity
options.
Accessing Your Money. Before You annuitize the Contract, You can withdraw money from Your
Contract at any time. If You take a
withdrawal, You may have to pay a withdrawal charge and/or income taxes, including a tax penalty if You are younger than age 59½. Certain withdrawals from the Fixed Account
may also be subject to a Market Value Adjustment, including full withdrawals due to discontinuation of the Contract during the Accumulation Period. Withdrawals could significantly reduce the value of your Contract, the death benefit, the amount available for loans, and
other Contract benefits.
Tax Treatment. You can transfer money among investment options without tax implications, and earnings (if any) on Your investments are
generally tax-deferred. You are only subject to tax upon: (1) making a withdrawal; (2) receiving a payment from Us; or (3) payment of a death benefit.
Death Benefits. The Contract may include, at no additional cost, a
standard death benefit that will pay a death benefit to the Beneficiary(ies) if You die during the Accumulation Period. The death
benefit is at least equal to the Contract Value (less any amounts due), and may be greater under certain circumstances. The death benefit is included
under allocated Contracts, but may not be available under an unallocated Contract.
5
Additional Services and
Features.
•
Dollar Cost Averaging Program. This program allows You to systematically transfer a set amount from a
Funding Option or the Fixed Account to one or more Funding Options on a monthly or quarterly basis.
•
Automatic Rebalancing. You may elect to have the Company periodically reallocate the values in Your
Contract to match the rebalancing allocation selected.
•
Systematic Withdrawal Program. This program allows You to receive regular automatic withdrawals from Your Contract either monthly, quarterly, semi-annually, or annually.
•
Variable Liquidity Benefit. If You elect the Annuity option “Payments for a
Fixed Period” (without life contingency) You may exercise the Variable Liquidity Benefit during the
Annuity Period. This benefit allows you to
take withdrawals during the Annuity Period based on the present value of your remaining Annuity Payments. Such withdrawals may significantly
reduce or eliminate remaining Annuity Payments and may be subject to withdrawal charges.
Market Value Adjustment.
•
You could lose a significant amount of money due to a negative Market Value Adjustment in certain circumstances if all
or a portion of the Contract Value is withdrawn from the Fixed Account. Only full surrenders from the Fixed Account due to a Contract discontinuation during the Accumulation Period will be subject to a Market Value
Adjustment.
6
Important Information You Should Consider About the Contract
| |
Fees, Expenses, and Adjustments |
Location in
Prospectus | |||
| Are There
Charges or
Adjustments for
Early
Withdrawals? |
Yes. Your Contract will specify
whether a surrender charge or a contingent deferred sales charge
(“CDSC”) applies to amounts withdrawn from the
Contract. For Contracts issued on or after May 24, 2005. If You withdraw money during the first 5 Contract Years, You may be assessed a surrender charge of up to 5%, as a percentage of the amount withdrawn. For Contracts
issued before May 24, 2005. If You withdraw money during the first 8 Contract Years, You may be assessed a surrender charge of up to 5%, as a percentage of the amount withdrawn. Alternatively, Your Contract
may provide for a CDSC of 5.5%, as percentage of each Purchase Payment,
withdrawn for a period of five years from the date the Purchase Payment
was made. For example, if You invest $100,000 in the Contract and make an early
withdrawal, You could pay a surrender charge of up to $5,000 or a CDSC of
$5,500. Market Value Adjustments. If You surrender the entire amount in the Fixed
Account during the Accumulation Period due to a Contract discontinuation, We will apply a Market Value Adjustment, which may be negative. In extreme circumstances, You could lose up to 100% of the amount surrendered due to a negative Market Value Adjustment. For
example, if You were to allocate $100,000 to the Fixed Account and later
surrender the Contract, You could lose up to $100,000 of Your investment.
This loss will be greater if You also have to pay surrender charges, taxes, and
tax penalties. Only full surrenders from the Fixed Account due to Contract
discontinuations will be subject to a Market Value Adjustment. |
Fee Table and
Examples Charges,
Deductions and
Adjustments –
Surrender
Charge/Contingent
Deferred Sales
Charge | |||
| Are There
Transaction
Charges? |
Yes. In addition to surrender charges and Market Value Adjustments for early withdrawals, You may also be charged for other transactions. There may be taxes on Purchase Payments, loan initiation fees, and installation charges for Plans with small Participant accounts. Transfer Fee. Currently, We do
not charge for transfers. However, We reserve the right to charge
for transfers after the first 12 transfers per year. |
Fee Table and Examples Charges,
Deductions and
Adjustments | |||
7
| Are There
Ongoing Fees and
Expenses? |
Yes. The table below describes the fees and expenses that You may pay each
year, depending on the investment 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 Charges,
Deductions and
Adjustments Appendix
A: Investment
Options Available
Under the
Contract | |||
| Annual Fee |
Minimum |
Maximum | |||
| Base Contract1 |
1.53% |
1.53% | |||
| Portfolio Company fees
and expenses2 |
0.28% |
1.37% | |||
| 1 As a percentage of average daily net assets of the Separate Account. This charge also includes
the Semi-Annual Administrative Charge. 2 As a percentage of Underlying Fund assets before temporary expense reimbursements and/or fee waivers. | |||||
| Because Your Contract is customizable, the choices You make affect how
much You will pay. To help You understand the cost of owning Your
Contract, the following table shows the lowest and highest cost You
could pay each year, based on current charges. This estimate
assumes that You do not take withdrawals from the Contract, which could add surrender charges and negative Market Value Adjustment that substantially increase costs. | |||||
| Lowest Annual Cost
$1,642 |
Highest Annual Cost
$2,596 | ||||
| Assumes: |
Assumes: | ||||
| ●Investment of $100,000 ●5% annual appreciation ●Least expensive Portfolio Company fees and expenses ●No additional Purchase Payments,
transfers, loans or withdrawals ●No surrender charges ●No Market Value Adjustment |
●Investment of $100,000 ●5% annual appreciation ●Most expensive Portfolio Company fees and expenses ●No additional Purchase
Payments, transfers, loans or withdrawals ●No surrender charges ●No Market Value Adjustment | ||||
8
| |
Risks |
Location in
Prospectus | |||
| Is There a Risk of
Loss from Poor
Performance? |
Yes. You can lose money by investing in this Contract, including loss of principal. |
Principal Risks of
Investing in the
Contract | |||
| Is This a
Short-Term
Investment? |
No. This Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash. ●Surrender charges or a CDSC may apply for the first 5 years or 8 years of
the Contract. Alternatively, a CDSC may apply for a period of 5 years
following a Purchase Payment. Surrender charges or a CDSC will reduce
the value of Your Contract if You withdraw money during that time period.
Withdrawals could significantly reduce the value of your Contract, the
death benefit, the amount available for loans, and other Contract benefits.
The reduction may be more than the amount withdrawn. ●The benefits of tax deferral also mean the Contract is more beneficial to
investors with a long time horizon. ●There are certain circumstances where withdrawing amounts from the Fixed Account will result in a negative Market Value Adjustment,
including full surrenders due to Contract discontinuation during the
Accumulation Period. ●At the end of each Guarantee Period, in the absence of other instructions or requests from You, the amount in the Guarantee Period will automatically be renewed into a new Guarantee Period, subject to the declared renewal interest rate. |
Principal Risks of
Investing in the
Contract The Fixed Account Charges,
Deductions and
Adjustments Access to Your
Money | |||
| What Are the
Risks Associated
with the
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., Underlying Funds). ●Each investment option, including the Fixed Account, has its own unique
risks. ●You should review the prospectuses for the available Underlying Funds and the prospectus disclosure for the Fixed Account before making an investment decision. |
Principal Risks of
Investing in the
Contract | |||
| What Are the
Risks Related to
the Insurance
Company? Risks |
An investment in the Contract is subject to the risks related to Us. Any
obligations (including under the Fixed Account) and guarantees and
benefits of the Contract that exceed the assets of the Separate Account are
subject to Our claims-paying ability. If We experience financial distress, We
may not be able to meet Our obligations to You. More information
about Brighthouse Life Insurance Company, including Our financial
strength ratings, is available by contacting Us at (888)
243-1968. |
Principal Risks of Investing in the Contract | |||
9
| |
Restrictions |
Location in
Prospectus | |||
| Are There
Restrictions on
the Investment
Options? |
Yes. ●Currently, We allow unlimited transfers without charge among investment options during the Accumulation Period. However, We reserve the right to impose a charge for transfers in excess of 12 per year. ●We reserve the right to limit the number of transfers in circumstances of
frequent or large transfers. ●Transfers between the Fixed Account and the Funding Options are subject to the Competing Funds restrictions described in this prospectus. ●We reserve the right to limit transfers from the Fixed Account in any calendar year to 20% of the Contract/Certificate Value in the Fixed
Account as of the end of the preceding Contract/Certificate Year. ●Where permitted by state law, We reserve the right (with 30 days advance written notice) to restrict Purchase Payments or transfers into the Fixed
Account when the credited interest rate is equal to the minimum
Guaranteed Interest Rate specified in Your Contract. ●We reserve the right to remove or substitute the Underlying Funds that are available as investment options under the Contract.
●The availability of the Fixed Account and Funding Options under the Contract may vary by employer or Plan Administrator. You should
reference Your Plan documents or speak with Your employer or Plan Administrator for the investment options available to You. |
Transfers | |||
| Are There Any
Restrictions on
ContractBenefits? |
Yes. ●You must select a specific Annuity option to exercise the Variable Liquidity Benefit during the Annuity Period. ●Withdrawals will reduce the value of the death benefit, perhaps
significantly. ●We may stop offering this optional benefit at any time for new sales.
●Except as otherwise provided, Contract benefits may not be modified or terminated by Us. ●The availability of benefits may vary by employer or Plan Administrator. You should reference Your Plan documents or speak with Your employer or Plan Administrator for the benefits available to You. |
Death Benefit The Annuity Period – Variable
Liquidity Benefit | |||
| |
Taxes |
| |||
| What Are the
Contract’s 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 59½. |
Federal Tax
Considerations | |||
| |
Conflicts of Interest |
| |||
| How Are
Investment
Professionals
Compensated? |
Investment professionals may receive compensation for selling this Contract
in the form of commissions, additional cash benefits (e.g., bonuses), and
non-cash compensation. This conflict of interest may influence an
investment professional to recommend this Contract over another
investment for which the investment professional is not compensated or
compensated less. |
Other Information – Distribution of the Contracts | |||
10
| |
Conflicts of Interest |
Location in
Prospectus | |||
| Shoud I Exchange
My Contract? |
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. |
Other Information – Distribution of the Contracts | |||
11
Benefits Available Under the Contract
The following table summarizes information about the benefits under the Contract.
| Name of
Benefit |
Purpose |
Standard
or
Optional |
Maximum
Fee |
Brief Description of
Restrictions / Limitations |
| Death Benefit |
Provides a death benefit at
least equal to the Contract Value (less any amounts
due) to Your
Beneficiary(ies) if You die during the Accumulation
Period |
Standard |
No Charge |
●Amount payable depends on multiple factors, such as type of Contract, age at time of death, Contract Value, total Purchase Payments, and prior withdrawals ●Withdrawals may
significantly reduce the
benefit ●May not be available under an unallocated Contract |
| Dollar Cost
Averaging
(DCA)
Program |
Allows You to
systematically transfer a set
amount from a Funding Option or the Fixed Account (if available) to
one or more Funding Options on a monthly or
quarterly basis |
Standard |
No Charge |
●Available only during the Accumulation Period ●Must have a minimum
total Contract Value of
$5,000 to enroll ●Minimum transfer amount is $400 ●Fixed Account Value must not be depleted in less than 12 months from date of enrollment ●May only have one DCA
program in place at one
time |
| Systematic
Withdrawal
Program |
Allows You to receive
regular automatic
withdrawals from Your
Contract |
Standard |
No Charge |
●Each payment must be at
least $50 ●Withdrawals may only be on a monthly, quarterly, semi-annual, or annual basis ●Must have a minimum
total Cash Value of
$5,000 to enroll ●Must provide at least 30 days’ notice to change instructions ●Upon 30-day written
notice, We may
discontinue this feature
at any time. ●We reserve the right to
charge a processing fee
in the future (if We do
so, We will inform You in
writing 30 days in
advance) |
12
| Name of
Benefit |
Purpose |
Standard
or
Optional |
Maximum
Fee |
Brief Description of
Restrictions /
Limitations |
| Variable
Liquidity
Benefit |
Provides liquidity during
the Annuity Period by
allowing the Owner to
take withdrawals during
the Annuity Period based
on the present value of
Your remaining Annuity Payments |
Optional |
5% upon exercise
(as a percentage of
the amount
withdrawn) |
●Only offered in
connection with a
specific Annuity option
that includes payments
for a fixed period ●Withdrawals may significantly reduce or eliminate remaining Annuity Payments |
Each of these benefits are discussed more fully, as follows: the Death Benefit is discussed in the prospectus section
entitled “Death Benefit;” the Dollar Cost Averaging program is discussed in the prospectus section entitled “Transfers;” the Systematic Withdrawal Program is discussed in the prospectus section entitled “Access to Your Money;” and the
Variable Liquidity Benefit is discussed in the prospectus section entitled “The Annuity Period.”
The availability of benefits may vary by employer or Plan administrator. You should reference Your Plan
documents or
speak with Your employer or
Plan administrator for the benefits available to You.
13
Buying the Contract
Purchasing the Contract
The Contract is used in connection with 401(k) Plans and Keoghs.
We no longer actively offer the Contractss to new purchasers, but We continue to accept new Participants under existing Contractss previously issued to Plans. We issue individual
Certificates to Participants under a
Plan’s
Contract. We refer to both Contracts and Certificates as “Contracts” unless the context provides otherwise. If Your Plan has the Contract and You are interested in becoming a
Participant, please contact Your
Plan Trustee or Administrator.
Purchase Payments
For unallocated Contracts, the minimum average Purchase Payments allowed is $10,000 annually per Contract. For allocated Contracts, the minimum Purchase Payments
allowed is an average of $1,000 annually per Participant’s Individual Account. We may refuse to accept total Purchase Payments over $3,000,000. Purchase Payments may be made at any time on behalf of the Participant while the
Participant is alive and before Annuity
Payments begin.
Allocation of Purchase Payments
We will allocate Your
Purchase Payments to one or more of the
Funding Options and/or, if available, to the
Fixed Account in accordance with Your
instructions.
Crediting Purchase Payments to Your Account
We apply Net Purchase
Payments to purchase Accumulation Units of the selected Funding Options. We will apply the initial Purchase Payment less any applicable Premium Tax within two Business Days after We receive it at Our Home
Office in Good Order. If Your request or other information accompanying the initial Purchase Payment is incomplete when received, We will hold the Purchase
Payment for up to five Business Days.
If We cannot obtain the necessary information within five Business Days of Our receipt of the initial Purchase Payment, We
will return the Purchase Payment in full,
unless You specifically consent for Us to keep it until You provide the necessary information.
We accept Purchase Payments made by check or
cashier’s check. We do not accept cash, money orders or traveler’s checks. 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” in the prospectus).
We will credit subsequent Purchase Payments to a Contract on the same Business Day We receive it,
if received in Good Order by Our Home
Office prior to close of regular trading on the NYSE (typically 4:00 p.m. Eastern Time). If we receive the
Purchase Payment after close of the NYSE, we will credit the Purchase Payment to the Contract on the next Business
Day. If Purchase Payments on Your behalf
are not submitted to Us in a timely manner or in Good Order, there may be a delay in when amounts are credited.
Where permitted by state law, We reserve the right to restrict Purchase Payments into the Fixed Account whenever the credited interest rate on the Fixed Account is equal to
the minimum guaranteed interest rate specified under the Contract.
We will provide You with the address of the office to which Purchase
Payments are to be sent.
If You send Purchase Payments or transaction
requests to an address other than the one We have designated for receipt of such Purchase Payments or requests, they will not be in Good Order. We may
return the Purchase Payment to You,
or there may be a delay in applying the Purchase Payment or transaction to Your Contract.
14
Making Withdrawals: Accessing the Money in Your Contract
Accumulation Period
Before the Maturity Date, We will pay all or any
portion of Your Cash Surrender Value to the
Contract Owner or at the Contract
Owner’s direction, to the
Participant. You may submit a written withdrawal request, which must be received at Our Home Office on or before the Maturity Date, that indicates that the withdrawal should be processed as of the Maturity Date, in which case 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 Maturity Date. A Contract Owner’s account may be surrendered for cash without the consent of any Participant, as provided in the Plan.
To the extent that the amount withdrawn is subject to a surrender charge, the charge will be
assessed as a percentage of the total amount withdrawn.
Full surrenders from the Fixed Account due to a Contract discontinuation may also be subject
to a Market Value Adjustment, in addition to applicable surrender charges.
There are limitations on Your ability to take withdrawals during the Accumulation
Period. These limitations are as
follows:
| Withdrawal Charges, Adjustments and Taxes |
There may be withdrawal charges and tax implications
when You take out money. Additionally, a Market Value Adjustment may apply to full surrenders from the Fixed Account due to a Contract discontinuation. A negative
Market Value Adjustment will reduce the amount you receive upon surrender from the Fixed Account. |
| Negative impact on benefits and guarantees of Your
Contract |
A withdrawal may have a negative impact on certain
benefits and guarantees that You may elect. It may
significantly reduce the value or even terminate the
benefit. |
| Internal Revenue Code or Retirement Plan |
Depending on the circumstances, the Internal Revenue Code or Your retirement plan may restrict Your ability to
take withdrawals. |
Annuity Period
During the Annuity
Period, You will receive Annuity Payments
under the Annuity option You select; however, You generally may not take any withdrawals, either full or partial. We may offer a Variable Liquidity Benefit if You select an
Annuity option that guarantees You payments for a fixed period of time (“period certain”).
We will calculate your Annuity Payments by applying your Contract Value to the type of Annuity you select, Fixed, Variable or a combination of
both, and the Annuity option you select.
Requesting a Withdrawal
Before the Maturity Date, We will pay all or
any portion of Your Cash Surrender Value to the Contract Owner or at the Contract Owner’s direction, to the Participant. You may submit a
written withdrawal request, which must be received at Our Home Office on or before the Maturity Date, that indicates that
the withdrawal should be processed as of the Maturity Date, in which case 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 Maturity Date. A Contract Owner’s account may be surrendered for
cash without the consent of any Participant, as provided in the Plan.
We may defer payment of any Cash Surrender Value for up
to seven days after We receive the request in Good Order. The Cash Surrender Value equals the Contract or account
Contract Value less any applicable withdrawal charge, outstanding cash loans, and any Premium Tax not
previously deducted. The Cash Surrender Value may be more or less than the Purchase Payments made depending on
the value of the Contract or account at the time of surrender.
15
Additional Information About Fees
The following tables describe the fees, expenses, and adjustments that You will pay when buying, owning, and surrendering, or making withdrawals from an investment option or from the Contract. Please refer to Your Contract specifications page for information about the specific fees You will pay
each year based on the options You have selected.
The first table describes the fees and expenses that You will pay at the time that You buy the Contract, surrender the Contract, make withdrawals from an investment option or from the Contract, or transfer Contract Value between investment options. State premium taxes of 0% to 3.5% may also be deducted.
Transaction Expenses
| Surrender Charge(1),
(2), (3) |
5% |
| (as a percentage of amount surrendered) |
|
| Contingent Deferred Sales Charge (“CDSC”)(3) |
|
| (only Contracts issued prior to May 24, 2005) (as a percentage of Purchase Payments withdrawn) |
|
| If withdrawn within 5 years after the Purchase Payment is made |
5.50% |
| If withdrawn 5 or more years after the Purchase Payment is made |
0.00% |
| Account Reduction Loan Initiation Fee |
$75 |
| Installation
Charge(4) |
$1,000 |
| (one-time charge applicable to allocated Contracts that has an average per Participant balance of less than $5,000 as of the effective
date of the Contract) |
|
(1)
For Contracts issued on or after May 24, 2005, the surrender charge will depend on the expected level of aggregate Contract assets during the first Contract Year, as determined by the Company. If the expected level of aggregate Contract assets
during the first Contract Year is greater
than or equal to $1,000,000, there will be no surrender charge. If the expected level of aggregate Contract assets during the first Contract Year is less than $1,000,000,
the surrender charge declines to zero after the end of the 5th Contact Year. During
the Annuity Period, if you elect the Variable
Liquidity Benefit, there is a charge of 5% of the amounts withdrawn for the first five years. Starting at year six, the Variable Liquidity Benefit charge is zero. This charge is not
assessed during the Accumulation Period. (Please refer to “Annuity Period – Variable Liquidity Benefit” section for a description of this benefit.) The charge is as follows:
| Contract
Year |
Surrender Charge | |
| Greater than or Equal to |
But less than |
|
| 0 years |
1 years |
5% |
| 1 years |
2 years |
4% |
| 2 years |
3 years |
3% |
| 3 years |
4 years |
2% |
| 4 years |
5 years |
1% |
| 5 + years |
|
0% |
(2)
For Contracts issued before May 24, 2005, the surrender
charge declines to zero after the end of the 8th Contract Year. During the Annuity Period, if you elect the Variable Liquidity Benefit, there is a charge of 5% of the amounts withdrawn for the first eight
years. Starting at year nine, the Variable Liquidity Benefit charge is zero. This charge is not assessed during the
Accumulation Period. (Please refer to “Annuity Period” section for a description of this benefit.) The charge is as follows:
| Contract
Year |
Surrender Charge | |
| Greater than or Equal to |
But less than |
|
| 0 years |
2 years |
5% |
| 2 years |
4 years |
4% |
| 4 years |
6 years |
3% |
| 6 years |
8 years |
2% |
| 8 + years |
|
0% |
(3)
A Contract will have either a surrender charge or a CDSC, depending on the issue date.
(4)
The Installation Charge is generally paid by the Plan sponsor, who may or may not allocate it among
Participant accounts.
16
The next table describes the
adjustments, in addition to any transaction expenses, that may apply if all or a portion of the Contract Value is withdrawn from the Fixed Account.
Adjustments
| Market Value Adjustment Maximum Potential Loss (1)
|
100% |
| (as a percentage of the Contract Value withdrawn or surrendered from the Fixed Account |
|
(1)
Only full surrenders from the Fixed Account due to Contract discontinuations will be subject to a Market
Value Adjustment. See “Charges, Deductions, and Adjustments – Market Value Adjustment” for more information.
The next tables describe the fees and expenses that You will pay each year during the time that You own the Contract, not including Underlying Fund fees and expenses. Expenses shown may change over time and may be higher or lower in the
future.
Annual Contract Expenses
| Administrative Expenses
(1) |
$15 |
| (per Participant individual Account) (allocated Contracts only) |
|
| Base Contract
Charge(2), (3) |
|
| (as a percentage of the average daily net assets of the Separate Account) |
|
| Aggregate Contract
Assets |
Base Contract Charge |
| $0 — $249,999.99 |
1.50% |
| $250,000 — $999,999.99 |
1.30% |
| $1,000,000 — $2,999,999.99 |
1.05% |
| $3,000,000 and over |
0.80% |
(1)
We call this fee the “Semi-Annual Administrative Charge” in your lContract, as well as in other places in the prospectus. In the section entitled “Important Information You Should Consider About
Your Contract” earlier in the prospectus, we are required to present this fee as part of the Base Contract.
(2)
We call this the
“daily asset charge” or "mortality and expense risk charge" in Your Contract as well as in other
places in the prospectus. We will waive a portion of this charge in connection with investments in certain
Subaccounts. See the “Charges and Deductions” section of the prospectus under the sub-heading "Mortality and Expense Risk Charge”.
(3)
The daily asset charge will depend on the aggregate Contract assets during the first Contract Year, as determined by the Company.
The next table shows the minimum and maximum total operating expenses charged by the Underlying Funds that You may pay periodically during the time that You own the Contract. Expenses shown may change over time and may be higher or lower in the future. A complete
list of Underlying Funds available under the Contract, including their annual expenses, may be found in Appendix A.
Annual Underlying Fund Expenses
| |
Minimum |
Maximum |
| Total Annual Underlying Fund Expenses |
|
|
| (expenses that are deducted from Underlying Fund assets, including management fees, distribution and/or service (12b-1) fees, and other expenses) |
0.28% |
1.37% |
Example
These examples are intended to help You compare the cost of investing in the variable options (the Funding Options under the Contract with the cost of investing in other annuity contracts that offer variable options. These costs include Transaction Expenses, Annual Contract Expenses, and Annual Underlying Fund Expenses.
The examples assume that all Contract Value is allocated to the variable options. The examples do not reflect the
Market Value Adjustment. You costs could differ from those shown below if You
invest in the Fixed Account.
17
These examples assume that You
invest $100,000 in the Contract for the time periods indicated and that Your investment has a 5% return each year. These examples also assume that You have
allocated all of Your Contract Value to either the Underlying Fund with the Maximum Total Annual Underlying Fund Expenses or the Underlying Fund with the Minimum Total Annual Underlying Fund Expenses. Although Your actual costs may be higher or lower, based on these assumptions Your cost would be:
For Contracts issued on or after May 24, 2005:
| |
If Contract is surrendered at the
end of period shown: |
If Contract is NOT surrendered or
annuitized at the end of period shown: | ||||||
| Funding Option |
1 year |
3 years |
5 years |
10 years |
1 year |
3 years |
5 years |
10 years |
| Underlying Fund with Maximum Total Annual Operating
Expenses |
|
|
|
|
|
|
|
|
| |
$8,440 |
$14,504 |
$20,820 |
$32,284 |
$2,940 |
$9,004 |
$15,320 |
$32,284 |
| Underlying Fund with Minimum Total Annual Operating
Expenses |
|
|
|
|
|
|
|
|
| |
$7,270 |
$10,984 |
$14,942 |
$20,510 |
$1,770 |
$5,484 |
$9,442 |
$20,510 |
18
Appendix A
Investment Options Available Under the Contract
The following is a list of Underlying Funds under the
Contract. More information about the
Underlying Funds is available in the
prospectuses for the Underlying Funds, which may be amended from time to time and can be found online at https://dfinview.com/BHF/PUFT/BHF123. You can
also request this information at no cost by calling (833) 208-3018 or sending an email request to
[email protected]. Availability of Underlying Funds may vary by employer or Plan Administrator. You should reference Your
Plan documents or speak with Your employer or Plan Administrator for the Underlying Funds available to You.
The current expenses and performance information below reflects fees and expenses of the
Underlying Funds, but do not reflect the
other fees and expenses that Your Contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Underlying Fund’s past performance is not necessarily an indication of future performance.
| Investment Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/2025) | ||
| 1
Year |
5
Year |
10
Year | |||
| Seeks long-term growth of
capital. |
American Funds Global Growth Fund — Class 2# Capital Research and Management CompanySM
|
0.65% |
21.62% |
8.23% |
12.17% |
| Seeks growth of capital. |
American Funds Growth Fund — Class 2
Capital Research and Management
CompanySM |
0.58% |
20.24% |
13.37% |
17.97% |
| Seeks long-term growth of
capital and income. |
American Funds Growth-Income Fund — Class 2
Capital Research and Management
CompanySM |
0.53% |
18.06% |
13.90% |
13.92% |
| Seeks growth of capital. |
American Funds® Aggressive Allocation Portfolio — Class
C‡ Brighthouse Investment Advisers, LLC |
0.99% |
19.90% |
9.30% |
10.88% |
| Seeks a balance between a
high level of current
income and growth of
capital, with a greater
emphasis on growth of
capital. |
American Funds® Balanced Allocation Portfolio — Class
C‡ Brighthouse Investment Advisers, LLC |
0.96% |
17.02% |
7.26% |
8.99% |
| Seeks a high total return in
the form of income and
growth of capital, with a
greater emphasis on
income. |
American Funds® Moderate Allocation Portfolio — Class
C‡ Brighthouse Investment Advisers, LLC |
0.95% |
14.46% |
5.71% |
7.30% |
| Seeks to maximize total
return, consistent with
income generation and
prudent investment
management. |
BlackRock High Yield Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: BlackRock Financial
Management, Inc. |
0.63% |
9.15% |
4.94% |
6.62% |
| Seeks growth of capital. |
Brighthouse Asset Allocation 100 Portfolio — Class B‡ Brighthouse Investment Advisers, LLC |
0.96% |
17.06% |
8.63% |
10.70% |
A-1
| Investment Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/2025) | ||
| 1
Year |
5
Year |
10
Year | |||
| Seeks long-term capital
appreciation. |
Brighthouse Small Cap Value Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Allspring Global
Investments, LLC |
1.03% |
-3.21% |
6.43% |
8.07% |
| Seeks long-term capital
appreciation. |
Brighthouse/Wellington Large Cap Research Portfolio —
Class E# Brighthouse Investment Advisers, LLC
Subadviser: Wellington Management Company LLP |
0.69% |
15.74% |
12.14% |
13.45% |
| Seeks total return through
investment in real estate
securities, emphasizing
both capital appreciation
and current income. |
CBRE Global Real Estate Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: CBRE Investment
Management Listed Real Assets LLC |
0.66% |
7.11% |
4.30% |
4.22% |
| Seeks long-term capital
appreciation. |
Harris Oakmark International Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Harris Associates L.P.
|
0.72% |
33.17% |
6.72% |
7.01% |
| Seeks capital growth and
income. |
Invesco Comstock Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Invesco Advisers, Inc.
|
0.81% |
17.31% |
15.15% |
11.83% |
| Seeks capital appreciation. |
Invesco Global Equity Portfolio — Class E# Brighthouse Investment Advisers, LLC Subadviser: Invesco Advisers, Inc.
|
0.73% |
15.71% |
7.40% |
11.12% |
| Seeks long-term growth of
capital. |
Invesco Small Cap Growth Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Invesco Advisers, Inc.
|
0.74% |
6.17% |
-0.66% |
9.27% |
| Seeks long-term capital
growth. |
JPMorgan Small Cap Value Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: J.P. Morgan Investment
Management Inc. |
0.79% |
12.48% |
9.93% |
9.09% |
| Seeks long-term growth of
capital. |
Loomis Sayles Growth Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Loomis, Sayles & Company,
L.P. |
0.55% |
15.21% |
15.06% |
14.19% |
| Seeks capital appreciation. |
MFS® Research International Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Massachusetts Financial
Services Company |
0.81% |
22.41% |
5.54% |
7.57% |
| Seeks maximum real return,
consistent with preservation
of capital and prudent
investment management. |
PIMCO Inflation Protected Bond Portfolio — Class
A Brighthouse Investment Advisers, LLC Subadviser: Pacific Investment
Management Company LLC |
1.13% |
7.93% |
1.40% |
3.35% |
A-2
| Investment Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/2025) | ||
| 1
Year |
5
Year |
10
Year | |||
| Seeks maximum total
return, consistent with the
preservation of capital and
prudent investment
management. |
PIMCO Total Return Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Pacific Investment
Management Company LLC |
0.83% |
8.90% |
-0.07% |
2.30% |
| Seeks to provide total
return, primarily through
capital appreciation. |
State Street Emerging Markets Enhanced Index Portfolio — Class
A# Brighthouse Investment Advisers, LLC Subadviser: SSGA Funds Management,
Inc |
0.55% |
34.45% |
6.31% |
— |
| 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 B# Brighthouse Investment Advisers, LLC Subadviser: T. Rowe Price Associates,
Inc. |
0.78% |
12.05% |
10.28% |
10.09% |
| 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% |
2.29% |
9.62% |
9.58% |
| Seeks a competitive total
return primarily from
investing in fixed-income
securities. |
BlackRock Bond Income Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: BlackRock Advisors, LLC
|
0.38% |
7.95% |
-0.17% |
2.38% |
| Seeks long-term growth of
capital. |
BlackRock Capital Appreciation Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: BlackRock Advisors, LLC
|
0.56% |
13.19% |
11.07% |
15.80% |
| Seeks a high level of current
income consistent with
prudent investment risk and
preservation of capital. |
BlackRock Ultra-Short Term Bond Portfolio — Class
E# Brighthouse Investment Advisers, LLC Subadviser: BlackRock Advisors, LLC
|
0.52% |
3.99% |
2.93% |
1.95% |
| Seeks a high level of current
income, with growth of
capital as a secondary
objective. |
Brighthouse Asset Allocation 20 Portfolio — Class B#‡ Brighthouse Investment Advisers, LLC |
0.93% |
9.25% |
2.06% |
3.97% |
| Seeks high total return in
the form of income and
growth of capital, with a
greater emphasis on
income. |
Brighthouse Asset Allocation 40 Portfolio — Class B‡ Brighthouse Investment Advisers, LLC |
0.91% |
11.50% |
3.84% |
5.69% |
| Seeks a balance between a
high level of current
income and growth of
capital, with a greater
emphasis on growth of
capital. |
Brighthouse Asset Allocation 60 Portfolio — Class B‡ Brighthouse Investment Advisers, LLC |
0.91% |
13.77% |
5.55% |
7.47% |
| Seeks growth of capital. |
Brighthouse Asset Allocation 80 Portfolio — Class B‡ Brighthouse Investment Advisers, LLC |
0.93% |
15.63% |
7.18% |
9.22% |
A-3
| Investment Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/2025) | ||
| 1
Year |
5
Year |
10
Year | |||
| Seeks long-term capital
appreciation with some
current income. |
Brighthouse/Wellington Balanced Portfolio — Class
A Brighthouse Investment Advisers, LLC Subadviser: Wellington Management
Company LLP |
0.52% |
12.67% |
7.45% |
9.41% |
| Seeks to provide a growing
stream of income over time
and, secondarily, long-term
capital appreciation and
current income. |
Brighthouse/Wellington Core Equity Opportunities Portfolio —
Class A# Brighthouse Investment Advisers, LLC
Subadviser: Wellington Management Company LLP |
0.62% |
7.83% |
8.29% |
10.73% |
| Seeks maximum capital
appreciation. |
Frontier Mid Cap Growth Portfolio — Class D# Brighthouse Investment Advisers, LLC Subadviser: Frontier Capital Management
Company, LLC |
0.79% |
5.08% |
3.68% |
10.04% |
| Seeks long-term growth of
capital. |
Jennison Growth Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Jennison Associates LLC
|
0.54% |
14.04% |
10.28% |
16.71% |
| Seeks to track the
performance of the
Standard & Poor’s 500®
Composite Stock Price
Index. |
MetLife Stock Index Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: MetLife Investment
Management, LLC |
0.27% |
17.59% |
14.13% |
14.53% |
| Seeks a favorable total
return through investment
in a diversified portfolio. |
MFS® Total Return Portfolio — Class F# Brighthouse Investment Advisers, LLC Subadviser: Massachusetts Financial
Services Company |
0.82% |
10.89% |
6.20% |
7.44% |
| Seeks capital appreciation. |
MFS® Value Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Massachusetts Financial
Services Company |
0.58% |
13.29% |
10.11% |
10.27% |
| Seeks high total return,
consisting principally of
capital appreciation. |
Neuberger Berman Genesis Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Neuberger Berman
Investment Advisers LLC |
0.81% |
-4.57% |
2.86% |
9.12% |
| Seeks long-term growth of
capital. |
T. Rowe Price Large Cap Growth Portfolio — Class
B# Brighthouse Investment Advisers, LLC Subadviser: T. Rowe Price Associates,
Inc. |
0.81% |
15.45% |
9.37% |
14.10% |
| Seeks long-term capital
growth. |
T. Rowe Price Small Cap Growth Portfolio — Class
B Brighthouse Investment Advisers, LLC Subadviser: T. Rowe Price Associates,
Inc. |
0.76% |
10.00% |
5.48% |
10.60% |
| Seeks to maximize total
return consistent with
preservation of capital. |
Western Asset Management Strategic Bond Opportunities Portfolio
— Class A# Brighthouse Investment Advisers, LLC
Subadviser: Western Asset Management Company LLC |
0.57% |
9.07% |
1.42% |
4.03% |
A-4
| Investment Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/2025) | ||
| 1
Year |
5
Year |
10
Year | |||
| Seeks to maximize total
return consistent with
preservation of capital and
maintenance of liquidity. |
Western Asset Management U.S. Government Portfolio
— Class A# Brighthouse Investment Advisers, LLC
Subadviser: Western Asset Management Company LLC |
0.50% |
7.07% |
0.59% |
1.82% |
| Seeks long-term capital
appreciation. |
Contrafund® Portfolio — Service Class 2
Fidelity Management & Research Company
LLC Subadviser: FMR UK, FMR HK, and FMR Japan |
0.79% |
21.24% |
15.08% |
15.49% |
| 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 |
0.80% |
11.49% |
9.83% |
10.31% |
| Seeks long-term capital
appreciation. |
Templeton Emerging Markets VIP Fund — Class 2^^ Templeton Asset Management Ltd. Subadviser: Franklin Templeton
Investment Management Limited |
1.37% |
46.27% |
5.46% |
10.40% |
| Seeks long-term capital
growth. |
Templeton Foreign VIP Fund — Class 2# Templeton Investment Counsel, LLC |
1.08% |
29.19% |
8.25% |
5.75% |
| Seeks long-term growth of
capital. |
Janus Henderson Enterprise Portfolio — Service Shares
Janus Henderson Investors US LLC |
0.97% |
7.41% |
7.35% |
12.51% |
| Seeks to maximize total
return, consistent with
prudent investment
management. Total return
consists of income and
capital appreciation. |
Western Asset Corporate Bond Fund — Class A Legg Mason
Partners Fund Advisor, LLC Subadvisers: Western Asset Management Company, LLC; Western Asset Management Company Limited; Western Asset Management Company Pte. Ltd.; Western Asset Management Company Ltd. |
0.90% |
4.06% |
-1.32% |
2.84% |
| Seeks capital appreciation. |
ClearBridge Variable Growth Portfolio — Class I Legg Mason
Partners Fund Advisor, LLC Subadviser: ClearBridge Investments, LLC |
0.87% |
13.32% |
5.24% |
7.47% |
| 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% |
9.23% |
-0.17% |
9.38% |
| 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 Company Pte. Ltd. |
0.81% |
9.96% |
2.56% |
5.33% |
A-5
| Investment Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/2025) | ||
| 1
Year |
5
Year |
10
Year | |||
| Seeks long-term capital
appreciation. |
LVIP ClearBridge Appreciation Fund — Class I# Legg Mason Partners Fund Advisor, LLC Subadviser: ClearBridge Investments,
LLC |
0.70% |
14.50% |
12.72% |
13.34% |
| Seeks dividend income,
growth of dividend income
and long-term capital
appreciation. |
LVIP ClearBridge Dividend Strategy Fund — Class I# Legg Mason Partners Fund Advisor, LLC Subadviser: ClearBridge Investments,
LLC |
0.75% |
12.62% |
11.86% |
12.46% |
| Seeks long-term growth of
capital. |
LVIP ClearBridge Large Cap Growth Fund — Class I# Legg Mason Partners Fund Advisor, LLC Subadviser: ClearBridge Investments,
LLC |
0.74% |
8.62% |
10.57% |
14.46% |
| Seeks long-term growth of
capital as its primary
objective. Current income
is a secondary objective. |
LVIP ClearBridge Large Cap Value Fund — Class I# Legg Mason Partners Fund Advisor, LLC Subadviser: ClearBridge Investments,
LLC |
0.72% |
10.20% |
10.11% |
10.01% |
#
Certain Underlying Funds and their investment advisers
have entered into temporary expense reimbursements and/or fee waivers, which are reflected in the Current Expenses. Please see the Underlying Funds' prospectuses for additional information regarding these arrangements.
‡
This Underlying Fund is a fund of funds and invests substantially all of its assets in other underlying funds. Because the Underlying Fund invests in other funds,
it will bear its pro rata portion of the operating expenses of those underlying funds, including the management fee.
^^
Until May 1, 2026, the name of this Underlying Fund is Templeton Developing Markets VIP Fund.
The following lists the Fixed Account option currently available under the
Contract. The Fixed Account listed below
will also be used if You participate in the DCA program and instruct Us to make transfers to or from the Fixed
Account. We may change the features of the
Fixed Account listed below, offer new
Fixed Account investment options, and
terminate existing Fixed Account
investment options. We will provide You with written notice before doing so. Availability of the Fixed
Account may vary by employer or Plan Administrator. You should reference Your Plan documents or
speak with Your employer or Plan Administrator for the investment options available to You.
Note: Full surrenders from the Fixed Account due to Contract discontinuations will be subject to a Market Value Adjustment. This may result in a significant reduction in Your Fixed Account Contract Value. See “Charges, Deductions, and Adjustments – Market Value Adjustment” for more information.
| Name |
Term (Guarantee Period) |
Guaranteed Minimum Interest Rate |
| Fixed Account |
12 months |
1% |
A-6
The prospectus and statement of additional information (SAI) include additional information. The prospectus and SAI are dated the same as this summary prospectus and are incorporated by
reference. The prospectus and SAI are available, without charge, upon request. For a free copy, call us at
(833) 208-3018 or send an email request to [email protected]. You can also access the prospectus,
SAI and other information about the Contract online at https://dfinview.com/BHF/PUFT/BHF123.
Reports and
other information about the Separate Account are available on the SEC’s website at http://www.sec.gov, and copies of this information may
be obtained, upon payment of a duplicating fee, by electronic request at the following email address:
[email protected].
EDGAR Contract Identifier No. is
Brighthouse Separate Account QPN for Variable Annuities C000075342
Brighthouse Life insurance Company (RILA MVA) C000266107
Brighthouse Separate Account QPN for Variable Annuities C000075342
Brighthouse Life insurance Company (RILA MVA) C000266107
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