Form 497VPU Brighthouse Separate

April 22, 2026 8:45 AM EDT
 
Brighthouse Retirement Account Annuity
ISSUED BY
BRIGHTHOUSE LIFE INSURANCE COMPANY
Updating Summary Prospectus
April 27, 2026
A Flexible Premium Variable and Fixed Annuity Contract
The prospectus for Brighthouse Retirement Account Annuity, a flexible premium variable and fixed annuity contract issued by Brighthouse Life Insurance Company (the Company, or We, Us, or Our), is available and contains more information about the Contract including its features, benefits, and risks. You can find the current prospectus and other information about the Contract online at https://dfinview.com/BHF/PUFT/BHF85. You can also obtain this information at no cost by calling (833) 208-3018 or by sending an email request to [email protected]. We no longer actively offer the Contracts to new purchasers, but We continue to accept new Participants under existing Contracts previously issued to Plans.
If, for an additional charge, You selected the Optional Death Benefit, We will add Purchase Payment Conservation Credits (also referred to as "bonus credits") to Your Contract with each Purchase Payment. Regardless of the death benefit selected, We will add a credit to Contract Value that is applied to an Annuity option after the first year. Expenses for variable annuity contracts with bonus credits may be higher than for other contracts without such credits. The amount of credits under the Contract may be more than offset by the higher fees and charges associated with the credits.
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 and withdrawals under the Liquidity Benefit during the Annuity 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 In extreme circumstances, You could lose up to 100% of the amount withdrawn or surrendered from the Fixed Account due to a negative Market Value Adjustment.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 variable 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.
Annuity — payment of income for a stated period or amount.
Annuity Period — the period following commencement of Annuity Payments.
Contract — for convenience, means the Contract or Certificate (i.e., the document issued to Participants under a master group Contract). Any reference to the Contract includes the underlying Certificate unless the context provides otherwise.
Competing Fund — any investment option under the Plan, which, in Our opinion, consists primarily of fixed-income securities and/or money market instruments.
Contract Value — the value of the Accumulation Units in Your Account (or a Participant’s Individual Account, if applicable), plus amounts held under the Fixed Account.
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.
Fixed Account — an account that consists of all of the assets under the Contract other than those in the Separate Account. The Fixed Account investment option, if available, is described in a separate prospectus.
Funding Options — the variable investment options to which Purchase Payments under the Contract may be allocated. Funding Options are also referred to as “Subaccounts.”
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.
Guaranteed Interest Rate — The annual effective interest rate credited during the Guarantee Period.
Market Value Adjustment — applies to certain withdrawals from the Fixed Account including full surrenders due to discontinuation of the Contract during the Accumulation Period and withdrawals under the Liquidity Benefit during the Annuity 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. When taking a withdrawal under the Liquidity Benefit, We calculate the amount due based on the present value of the remaining period certain payments under the Annuity Option using a current interest rate, and this calculation may result in a Market Value Adjustment, positive or negative, applied to Your withdrawal.
Participant — an eligible person who is a member in a tax qualified Plan under Sections 401, 403(b) or 457 of the Code, or a non-qualified deferred compensation Plan.
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 Sections 401, 403(b) or 457 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.
Purchase Payments — the premium payment(s) applied to the Contract, less any Premium Taxes (if applicable).
Purchase Payment Conservation Credit — if, for an additional charge, You select the Optional Death Benefit, We will add a credit to Your Contract with each Purchase Payment allocated to the Separate Account in the form of Purchase Payment Conservation Credits. Also, an amount which may be credited to Your Contract Value that equals a percentage of each Purchase Payment made where such funds originated from other Contracts issued by Us or Our affiliates.
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 Fund. 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."
3
You, Your — “You,” depending on the context, may be the Certificate holder, the Participant or the Contract Owners 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). In connection with a 403(b) Plan termination, as of the date of the Contract or cash distribution under such Plan termination, "You" means the Participant who has received such Contract or cash distribution.
Updated Information You Should Consider About the Contract
The information in this Updating Summary Prospectus is a summary of certain Contract features that have changed since the Updating Summary Prospectus dated April 28, 2025. This may not reflect all of the changes that have occurred since You entered into Your Contract.
On November 6, 2025, Brighthouse Financial, Inc. (“BHF”) and Aquarian Capital LLC (“Aquarian”) announced that they had entered into a definitive agreement under which an affiliate of Aquarian will acquire BHF. This transaction is subject to the satisfaction or waiver of customary closing conditions, including receipt of applicable regulatory approvals. Subject to such approvals and the satisfaction or waiver of the other conditions, the transaction is expected to be consummated in 2026.
Upon the consummation of the transaction, Aquarian will become the ultimate parent of BHF and the Company will remain an indirect wholly-owned subsidiary of BHF. Although Aquarian will replace BHF as the Company’s ultimate parent, the Company will continue in its present role as the issuer of your contract. All of your rights and benefits under your contract and the Company’s obligations under the contract will remain unchanged.
Founded in 2017, Aquarian Capital is a diversified global holding company with a strategic portfolio of insurance and asset management solutions. Aquarian is headquartered in New York, NY.
Changes Affecting the Underlying Funds 
Trust/Investment Portfolio Reorganization. Each of the following Former Investment Portfolios has been reorganized into the New Investment Portfolios of the New Trust. 
Former Trust/Investment Portfolio
New Trust/Investment Portfolio
Legg Mason Partners Variable Equity Trust
Lincoln Variable Insurance Products Trust
ClearBridge Variable Appreciation Portfolio
LVIP ClearBridge Appreciation Fund
ClearBridge Variable Dividend Strategy Portfolio
LVIP ClearBridge Dividend Strategy Fund
ClearBridge Variable Large Cap Growth Portfolio
LVIP ClearBridge Large Cap Growth Fund
ClearBridge Variable Large Cap Value Portfolio
LVIP ClearBridge Large Cap Value Fund
 
Portfolio Name Change. Certain Investment Portfolios were subject to a name change. The chart below identifies the former name and new name of the Investment Portfolios. 
Former Name
New Name
Brighthouse Funds Trust I
Brighthouse Funds Trust I
SSGA Emerging Markets Enhanced Index Portfolio
State Street Emerging Markets Enhanced Index Portfolio
Delaware VIP® Trust
Delaware VIP® Trust
Macquarie VIP Small Cap Value Series
Nomura VIP Small Cap Value Series*
Franklin Templeton Variable Insurance Products Trust
Franklin Templeton Variable Insurance Products Trust
Templeton Developing Markets VIP Fund
Templeton Emerging Markets VIP Fund**
*The effective date of this name change was December 1, 2025.
**The effective date of this name change is May 1, 2026. 
4
Important Information You Should Consider About the Contract
 
 
Fees, Expenses, and Adjustments
Location in
Prospectus
Are There
Charges or
Adjustments for
Early
Withdrawals?
 
Yes.
Withdrawal Charges. If You withdraw money during the first 5 years
following a Purchase Payment, You may be assessed a withdrawal charge of
up to 5% of the Purchase Payment and any applicable Purchase Payment
Conservation Credits withdrawn, declining to 0% over that time period.
For example, if You make an early withdrawal, You could pay a withdrawal
charge of up to $5,000 on a $100,000 investment. This loss will be greater
if there taxes or tax penalties.
Market Value Adjustments. If You surrender the entire amount in the Fixed
Account during the Accumulation Period due to a Contract discontinuation
or if you take a withdrawal under the Liquidity Benefit during the Annuity
Period, We will apply a Market Value Adjustment, which may be negative.
In extreme circumstances, You could lose up to 100% of the amount
surrendered or withdrawn 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 withdrawal charges, taxes,
and tax penalties. Only full surrenders from the Fixed Account due to
Contract discontinuations and withdrawals under the Liquidity Benefit will
be subject to a Market Value Adjustment.
Fee Table and
Examples
 
Charges,
Deductions, and
Adjustments
Are There
Transaction
Charges?
Yes. In addition to withdrawal charges and Market Value Adjustments for
early withdrawals, You may also be charged for other transactions. There
may be taxes on Purchase Payments.
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
5
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 and optional benefits 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
0.82%
0.82%
Portfolio Company fees
and expenses2
0.27%
1.37%
Optional benefits
available for an
additional charge (for a
single optional benefit, if
elected)
0.45%3
3.00%4
1 As a percentage of average daily net assets of the Separate Account.
2As a percentage of Underlying Fund assets before temporary expense reimbursements and/or
fee waivers.
3As a percentage of average daily net assets of the Separate Account. This is the charge for the
only optional benefit during the Accumulation Period.
4.As a percentage of average daily net assets of the Separate Account. This charge only applies
during the Annuity Period and only if you have elected the Variable Annuitization Floor
Benefit.
 
 
Because Your Contract is customizable, the choices You make affect how
much You will pay. To help You understand the cost of owning Your
Contract, the following table shows the lowest and highest cost You could
pay each year, based on current charges. This estimate assumes that You do
not take withdrawals from the Contract, which could add withdrawal
charges and negative Market Value Adjustments that substantially increase
costs.
Lowest Annual Cost
$1,140
Highest Annual Cost
$3,015
Assumes:
Assumes:
●Investment of $100,000
●5% annual appreciation
●Least expensive Portfolio Company
fees and expenses
●No optional benefits
●No Purchase Payment Conservation
Credits
●No additional Purchase Payments,
transfers, loans or withdrawals
●No surrender charges
●No Market Value Adjustment
●Investment of $100,000
●5% annual appreciation
●Most expensive combination of
optional benefits and Portfolio
Company fees and expenses
●No Purchase Payment
Conservation Credits
●No additional Purchase
Payments, transfers, loans or
withdrawals
●No surrender charges
●No Market Value Adjustment
6
 
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. Amounts withdrawn from the
Contract may result in withdrawal charges, taxes, and tax penalties.
●Withdrawal charges may apply for the first 5 years following a Purchase
Payment. Withdrawal charges 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, including the
optional death benefit. 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 and withdrawals under the Liquidity Benefit during
the Annuity 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
 
Transfers
 
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 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?
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
7
 
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. At a minimum, We would always allow one
transfer every six months.
●Transfers between the Fixed Account and the Funding Options are
subject to theCompeting 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
Restrictions on
Contract
Benefits?
Yes.
 
●If You elect the Variable Annuitization Floor Benefit, We limit or restrict
the investment options that You may select under the Contract during the
Annuity Period. We may change these restrictions in the future.
●If You select the Optional Death Benefit and Purchase Payment
Conservation Credits, additional restrictions on Purchase Payment
allocations and transfers to the Fixed Account apply.
●Withdrawals will reduce the value of the death benefit, perhaps
significantly.
●Withdrawals may reduce the value of an optional benefit by an amount
greater than the value withdrawn, which could significantly reduce the
value or even terminate the benefit.
●You may select only certain Annuity options if exercising the Variable
Annuitization Floor Benefit.
●The Liquidity Benefit is only available under certain Annuity options.
●We may stop offering an optional benefit at any time for new sales.
●Purchase Payment Conservation Credits may not be included in the
calculation of the optional death benefit. Purchase Payments allocated to
the Fixed Account are not eligible for Purchase Payment Conservation
Credits.
●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.
Purchase
Payment
Conservation
Credits
 
Death Benefit –
Optional Death
Benefit and
Credit
 
Payment Options
– Variable
Annuitization
Floor Benefit
 
Transfers
 
The Annuity
Period – Liquidity
Benefit
8
 
Taxes
Location in
Prospectus
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
Should 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 –
Exchanges
9
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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/BHF85. You can also request this information at no cost by calling (833) 208-3018 or sending an email request to [email protected]. Depending on the optional benefits You choose, You may not be able to select certain Underlying Funds. See "Underlying Funds Available Under the Benefits Offered Under the Contract" below. 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 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%
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%
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 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 B#
Brighthouse Investment Advisers, LLC
Subadviser: Invesco Advisers, Inc.
0.83%
15.60%
7.30%
11.00%
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 capital appreciation.
Morgan Stanley Discovery Portfolio —
Class B#†
Brighthouse Investment Advisers, LLC
Subadviser: Morgan Stanley Investment
Management Inc.
0.90%
13.19%
-5.83%
14.00%
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%
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%
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 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 long-term capital
appreciation by investing in
common stocks believed to
be undervalued. Income is
a secondary objective.
T. Rowe Price Large Cap Value Portfolio
— Class E††
Brighthouse Investment Advisers, LLC
Subadviser: T. Rowe Price Associates,
Inc.
0.68%
12.16%
10.39%
10.20%
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 A#
Brighthouse Investment Advisers, LLC
Subadviser: BlackRock Advisors, LLC
0.37%
4.15%
3.09%
2.10%
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 B#†
Brighthouse Investment Advisers, LLC
Subadviser: Jennison Associates LLC
0.79%
13.72%
10.01%
16.41%
Seeks to track the
performance of the
Bloomberg U.S. Aggregate
Bond Index.
MetLife Aggregate Bond Index Portfolio
— Class A#
Brighthouse Investment Advisers, LLC
Subadviser: MetLife Investment
Management, LLC
0.26%
7.04%
-0.64%
1.75%
Seeks to track the
performance of the MSCI
EAFE® Index.
MetLife MSCI EAFE® Index Portfolio —
Class A
Brighthouse Investment Advisers, LLC
Subadviser: MetLife Investment
Management, LLC
0.37%
31.02%
8.62%
8.04%
Seeks to track the
performance of the Russell
2000® Index.
MetLife Russell 2000® Index Portfolio —
Class A
Brighthouse Investment Advisers, LLC
Subadviser: MetLife Investment
Management, LLC
0.30%
12.66%
5.99%
9.55%
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%
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 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%
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 capital appreciation.
Nomura VIP Small Cap Value Series —
Standard Class
Delaware Management Company, a
series of Nomura Investment
Management Business Trust
Subadvisers: Macquarie Funds
Management HK Ltd.; Macquarie
Investment Management Global Limited
0.74%
8.16%
9.26%
9.15%
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 capital appreciation.
Dynamic Capital Appreciation Portfolio
— Service Class 2†
Fidelity Management & Research
Company LLC
Subadviser: FMR UK, FMR HK, and FMR
Japan
0.98%
18.49%
13.38%
14.58%
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%
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 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, consistent with
prudent investment
management and liquidity
needs, by investing to
obtain a dollar weighted
average effective duration
that is normally within 30%
of the average duration of
the domestic bond market
as a whole.
Western Asset Core Plus VIT Portfolio —
Class I#
Legg Mason Partners Fund Advisor, LLC
Subadvisers: Western Asset Management
Company, LLC; Western Asset
Management Company Limited; Western
Asset Management Company Ltd;
Western Asset Management Company
Pte. Ltd.
0.54%
7.75%
-1.44%
2.11%
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.
†
Not available under all Contracts. Availability depends on Contract issue date.
††
Closed to new investments except under dollar cost averaging and rebalancing programs in existence at the time of closing.
^^
Until May 1, 2026, the name of this Underlying Fund is Templeton Developing Markets VIP Fund.
A-6
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 and withdrawals under the Liquidity Benefit 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%
Underlying Funds Available Under the Benefits Offered Under the Contract
If You have elected the Variable Annuitization Floor Benefit under the Contract, Your Underlying Fund selections are subject to restrictions during the Annuity Period. Otherwise, Your Contract is not subject to any Underlying Fund selection restrictions.
Underlying Fund Selection Restrictions for the Variable Annuitization Floor Benefit
If You elect this benefit, then during the Annuity Period, You cannot select any Underlying Funds other than those listed below.
•
MFS® Value Portfolio
•
BlackRock Bond Income Portfolio
•
Western Asset Management U.S. Government Portfolio
A-7
 
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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/BHF85.
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 Eleven for Variable Annuities C000068747
Brighthouse Life Insurance Company (RILA MVA) C000266111

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