Form 497VPU Brighthouse Variable

April 22, 2026 8:46 AM EDT
 
The Variable Annuity Contract
issued by
Brighthouse Life Insurance Company of NY
and
Brighthouse Variable Annuity Account B
 
Class S
(offered on and after May 2, 2016)

 
Class S – L Share Option
(offered on and after May 2, 2016)
 
Updating Summary Prospectus
April 27, 2026
A flexible premium deferred variable annuity contract
 
The prospectus for the Class S and Class S - L Share Option Variable Annuity Contract (the “Contract” or “contract”), a flexible premium deferred variable annuity contract issued by Brighthouse Life Insurance Company of NY (“Brighthouse”, the “Company”, or “we” or “us”), 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/BHF54. You can also obtain this information at no cost by calling (888) 243-1932 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. Withdrawals (partial or full) could result in withdrawal charges, taxes, and tax penalties.
The Company’s 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 determined if this prospectus is accurate or complete. Any representation to the contrary is a criminal offense.
1
Special Terms
Account Value. The sum of your interests in the Investment Portfolios.
Accumulation Phase. The period in which earnings accumulate on a tax-deferred basis.
Contract Year. A Contract Year is defined as a one-year period starting on the date the contract is issued and on each contract anniversary thereafter.
Investment Portfolios. The means of investing offered to Owners in various underlying fund portfolios. May also be referred to as “Portfolio Company.”
Purchase Payment. A Purchase Payment is the money you give us to invest in the contract. The initial Purchase Payment is due on the date the contract is issued. You may also be permitted to make subsequent Purchase Payments.
Separate Account. We have established Brighthouse Variable Annuity Account B to hold the assets that underlie the Contracts.
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, Brighthouse Life Insurance Company (“BLIC”) will remain an indirect wholly-owned subsidiary of BHF, and the Company will remain a wholly-owned subsidiary of BLIC. 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 Investment Portfolios 
Portfolio Name Changes. 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
SSGA Growth ETF Portfolio
SSGA Growth and Income ETF Portfolio
State Street Emerging Markets Enhanced Index Portfolio
State Street Moderately Aggressive ETF Portfolio
State Street Moderate ETF Portfolio
3
Important Information You Should Consider About the Contract 
 
Fees, Expenses, and Adjustments
Location in
Prospectus
Are There
Charges or
Adjustments for
Early
Withdrawals?
Yes. If you elect the “Class S” Contract class and you withdraw money
during the first 7 full Contract Years following a Purchase Payment, you may
be assessed a withdrawal charge of up to 7% of the Purchase Payment
withdrawn, declining to 0% over that time period.
If you elect the “Class S – L Share Option” Contract class and you withdraw
money during the first 4 full Contract Years following a Purchase Payment,
you may be assessed a withdrawal charge of up to 7% of the Purchase
Payment withdrawn, declining to 0% over that time period.
For example, if you elect either Contract class and make an early withdrawal,
you could pay a withdrawal charge of up to $7,000 on a $100,000
investment. This loss will be greater if there are taxes or tax penalties.
Fee Table and
Examples
 
Expenses –
Withdrawal
Charge
Are There
Transaction
Charges?
Yes. In addition to withdrawal charges, you also may be charged for the
following transactions: transfers of cash value between investment options.
Transfer Fee. Currently, we allow unlimited transfers among the investment
options without charge. However, we reserve the right to charge for transfers
after the first 12 transfers per year.
Fee Table and
Examples
 
Expenses –
Transfer Fee
4
 
Fees, Expenses, and Adjustments
Location in
Prospectus
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
 
Expenses –
Product
Charges
 
Appendix A:
Investment
Portfolios
Available
Under the
Contract
Annual Fee
Minimum
Maximum
Base Contract
(varies by Contract class)1
1.16%
1.86%
Investment Portfolio fees and
expenses2
0.53%
2.50%
Optional benefits available for
an additional charge (for a
single optional benefit, if
elected)
0.90%3
1.35%4
1 As a percentage of average Account Value in the Separate Account. The charge shown also
includes the Account Fee.
2 As a percentage of fund assets before temporary expense reimbursements and/or fee waivers.
3 As a percentage of the guaranteed withdrawal amount, which is a value used to calculate your
benefit. This charge is the current charge for the least expensive optional benefit.
4 As a percentage of the Benefit Base, which is a value used to calculate your benefit. This charge
is the current charge for the most expensive optional benefit.
 
 
Because your Contract is customizable, the choices you make affect how
much you will pay. To help you understand the cost of owning your
Contract, the following table shows the lowest and highest cost you could
pay each year, based on current charges. This estimate assumes that you do
not take withdrawals from the Contract, which could add withdrawal
charges that substantially increase costs.
Lowest Annual Cost
$1,564
Highest Annual Cost
$4,054
Assumes:
Assumes:
●Investment of $100,000
●5% annual appreciation
●Least expensive combination of
Contract classes and Investment
Portfolio fees and expenses
●No optional benefits
●No sales charges
●No additional Purchase Payments,
transfers, or withdrawals
●Investment of $100,000
●5% annual appreciation
●Most expensive combination
of Contract classes, optional
benefits, and Investment
Portfolio fees and expenses
●No sales charges
●No additional Purchase
Payments, transfers, or
withdrawals
 
Risks
 
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
5
 
Risks
Location in
Prospectus
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 7 full
Contract Years following a Purchase Payment if Class S has been elected or
the first 4 full Contract Years following a Purchase Payment if the Class S – L
Share Option has been elected. Withdrawal charges will reduce the value of
your Contract if you withdraw money during the applicable time period.
Withdrawals could significantly reduce the value of your Contract, the death
benefit, and other Contract benefits. The reduction may be more than the
amount withdrawn.
The benefits of tax deferral and living benefit protection also mean the
Contract is more beneficial to investors with a long time horizon.
Principal Risks
of Investing in
the Contract
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., Investment Portfolios).
●Each investment option has its own unique risks.
●You should review the prospectuses for the available funds 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 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, including our financial strength
ratings, is available by contacting us at (888) 243-1968.
Principal Risks
of Investing in
the Contract
 
Restrictions
 
Are There
Restrictions on the
Investment
Options?
Yes.
●Currently, we allow unlimited transfers without charge among investment
options during the Accumulation Phase. However, we reserve the right to
limit transfers or impose a charge for transfers in excess of 12 per year.
●We reserve the right to limit transfers in circumstances of frequent or large
transfers.
●We reserve the right to remove or substitute the Investment Portfolios
available as investment options under the Contract.
●The availability of the Investment Portfolios may vary depending on the
selling firm through which your Contract is sold.
Purchase
 
Investment
Options
 
Appendix F:
Financial
Intermediary
Variations
6
 
Restrictions
Location in
Prospectus
Are There Any
Restrictions on
Contract Benefits?
Yes.
●Certain optional benefits limit or restrict the investment options that you
may select under the Contract. We may change these restrictions in the
future.
●Certain optional benefits may vary by selling firm.
●Certain optional benefits could limit subsequent Purchase Payments.
●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.
●We may stop offering an optional benefit at any time for new sales.
●The availability of Contract benefits may vary depending on the selling
firm through which your Contract is sold.
●Except as otherwise provided, Contract benefits may not be modified or
terminated by us.
Purchase –
Investment
Allocation
Restrictions for
Certain Riders
 
Living Benefits
 
Death Benefit
 
Appendix B:
Investment
Portfolios
Available
Under the
Benefits
Offered Under
the Contract
 
Appendix F:
Financial
Intermediary
Variations
 
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 59 1∕2.
Federal
Income Tax
Status
 
Conflicts of Interest
 
How Are
Investment
Professionals
Compensated?
Your investment professional may receive compensation for selling this
Contract to you, in the form of commissions, additional cash benefits (e.g.,
bonuses), and non-cash compensation. This conflict of interest may influence
your investment professional to recommend this Contract over another
investment for which the investment professional is not compensated or
compensated less.
Other
Information –
Distributor
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, and
any fees or penalties to terminate the existing contract, that it is better for
you to purchase the new Contract rather than continue to own your existing
contract.
Replacement
of Contracts
and Other
Exchanges
7
 
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APPENDIX A
Investment Portfolios Available Under the Contract
The following is a list of Investment Portfolios under the Contract. More information about the Investment Portfolios is available in the prospectuses for the Investment Portfolios, which may be amended from time to time and can be found online at https://dfinview.com/BHF/PUFT/BHF54. You can also request this information at no cost by calling (888) 243-1932 or sending an email request to [email protected]. Depending on the optional benefits you choose, you may not be able to invest in certain Investment Portfolios. See Appendix B: Investment Portfolios Available Under the Benefits Offered Under the Contract.
The availability of the Investment Portfolios may vary depending on the selling firm through which your Contract is sold. See Appendix F: Financial Intermediary Variations.
The current expenses and performance information below reflects fees and expenses of the Investment Portfolio, 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 Investment Portfolio’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 high total investment return.
BlackRock Global Allocation V.I.
Fund — Class III#
BlackRock Advisors, LLC
Subadviser: BlackRock (Singapore)
Limited
1.01%
19.42%
5.51%
7.33%
Seeks capital appreciation and
current income.
AB Global Dynamic Allocation
Portfolio — Class B*
Brighthouse Investment Advisers,
LLC
Subadviser: AllianceBernstein L.P.
0.92%
11.56%
3.05%
4.77%
Seeks to maximize total return.
AB International Bond
Portfolio — Class B
Brighthouse Investment Advisers,
LLC
Subadviser: AllianceBernstein L.P.
0.87%
7.77%
0.45%
 — 
Seeks long-term capital appreciation.
Allspring Mid Cap Value
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Allspring Global
Investments, LLC
1.00%
5.77%
9.59%
9.11%
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 to achieve growth of capital.
American Funds® Growth
Portfolio — Class C
Brighthouse Investment Advisers,
LLC; Capital Research and
Management CompanySM
0.90%
19.88%
13.02%
17.60%
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 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 capital appreciation and
current income.
BlackRock Global Tactical Strategies
Portfolio — Class B#*
Brighthouse Investment Advisers,
LLC
Subadviser: BlackRock Financial
Management, Inc.
0.94%
11.44%
3.54%
5.10%
Seeks to maximize total return,
consistent with income generation
and prudent investment
management.
BlackRock High Yield
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: BlackRock Financial
Management, Inc.
0.88%
8.93%
4.68%
6.35%
Seeks growth of capital.
Brighthouse Asset Allocation 100
Portfolio — Class B‡
Brighthouse Investment Advisers,
LLC
0.96%
17.06%
8.63%
10.70%
Seeks a balance between a high level
of current income and growth of
capital, with a greater emphasis on
growth of capital.
Brighthouse Balanced Plus
Portfolio — Class B*
Brighthouse Investment Advisers,
LLC
Subadviser: Overlay Portion: Pacific
Investment Management Company
LLC
1.17%
11.95%
1.31%
5.83%
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 a high level of current income.
Brighthouse/Eaton Vance Floating
Rate Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Eaton Vance
Management
0.95%
3.81%
4.75%
4.59%
Seeks a high level of current income,
while seeking preservation of
shareholders’ capital.
Brighthouse/Franklin Low Duration
Total Return Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Franklin Advisers, Inc.
0.75%
5.25%
2.14%
2.23%
Seeks total return through
investment in real estate securities,
emphasizing both capital
appreciation and current income.
CBRE Global Real Estate
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: CBRE Investment
Management Listed Real Assets
LLC
0.91%
6.75%
4.03%
3.95%
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 long-term capital appreciation.
Harris Oakmark International
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Harris Associates L.P.
0.97%
32.78%
6.46%
6.74%
Seeks total return.
Invesco Balanced-Risk Allocation
Portfolio — Class B#*
Brighthouse Investment Advisers,
LLC
Subadviser: Invesco Advisers, Inc.
0.97%
13.14%
3.77%
5.80%
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 B#
Brighthouse Investment Advisers,
LLC
Subadviser: Invesco Advisers, Inc.
0.99%
5.83%
-0.91%
9.00%
Seeks to maximize total return.
JPMorgan Core Bond
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: J.P. Morgan Investment
Management Inc.
0.70%
6.95%
-0.19%
2.02%
Seeks capital appreciation and
current income.
JPMorgan Global Active Allocation
Portfolio — Class B#*
Brighthouse Investment Advisers,
LLC
Subadviser: J.P. Morgan Investment
Management Inc.
0.98%
13.92%
3.68%
5.77%
Seeks high total investment return
through a combination of capital
appreciation and income.
Loomis Sayles Global Allocation
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Loomis, Sayles &
Company, L.P.
1.04%
12.59%
6.25%
9.22%
Seeks long-term growth of capital.
Loomis Sayles Growth
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Loomis, Sayles &
Company, L.P.
0.80%
14.90%
14.77%
13.91%
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 a balance between growth of
capital and current income, with a
greater emphasis on growth of
capital.
MetLife Multi-Index Targeted Risk
Portfolio — Class B*
Brighthouse Investment Advisers,
LLC
Subadviser: Overlay Portion:
MetLife Investment Management,
LLC
0.62%
9.08%
2.93%
5.31%
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 total return.
PanAgora Global Diversified Risk
Portfolio — Class B#*
Brighthouse Investment Advisers,
LLC
Subadviser: PanAgora Asset
Management, Inc.
1.01%
19.84%
0.66%
5.01%
Seeks maximum real return,
consistent with preservation of
capital and prudent investment
management.
PIMCO Inflation Protected Bond
Portfolio — Class B
Brighthouse Investment Advisers,
LLC
Subadviser: Pacific Investment
Management Company LLC
1.38%
7.74%
1.15%
3.09%
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 capital appreciation and
current income.
Schroders Global Multi-Asset
Portfolio — Class B#*
Brighthouse Investment Advisers,
LLC
Subadviser: Schroder Investment
Management North America Inc.
0.96%
9.85%
4.28%
5.28%
Seeks to provide total return,
primarily through capital
appreciation.
State Street Emerging Markets
Enhanced Index
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: SSGA Funds
Management, Inc
0.80%
34.14%
6.04%
 — 
Seeks growth of capital and income.
State Street Moderate ETF
Portfolio — Class B‡
Brighthouse Investment Advisers,
LLC
Subadviser: SSGA Funds
Management, Inc.
0.75%
16.78%
7.19%
7.85%
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 growth of capital.
State Street Moderately Aggressive
ETF Portfolio — Class B‡
Brighthouse Investment Advisers,
LLC
Subadviser: SSGA Funds
Management, Inc.
0.78%
19.23%
9.01%
9.31%
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 growth of capital.
T. Rowe Price Mid Cap Growth
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: T. Rowe Price
Associates, Inc.
Sub-Subadviser: T. Rowe Price
Investment Management, Inc.
0.95%
3.42%
3.83%
9.77%
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 high level of current income,
consistent with preservation of
principal.
Western Asset Management
Government Income
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Western Asset
Management Company LLC
0.74%
7.21%
-1.27%
1.21%
Seeks long-term growth of capital.
Baillie Gifford International Stock
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Baillie Gifford Overseas
Limited
0.99%
18.96%
0.70%
7.34%
Seeks a competitive total return
primarily from investing in fixed-
income securities.
BlackRock Bond Income
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: BlackRock Advisors,
LLC
0.63%
7.68%
-0.42%
2.12%
Seeks long-term growth of capital.
BlackRock Capital Appreciation
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: BlackRock Advisors,
LLC
0.81%
12.91%
10.79%
15.51%
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 a high level of current income
consistent with prudent investment
risk and preservation of capital.
BlackRock Ultra-Short Term Bond
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: BlackRock Advisors,
LLC
0.62%
3.89%
2.83%
1.85%
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%
Seeks long-term capital growth.
Brighthouse/Artisan Mid Cap Value
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Artisan Partners Limited
Partnership
1.03%
1.57%
6.77%
8.05%
Seeks long-term capital appreciation.
Brighthouse/Dimensional
International Small Company
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Dimensional Fund
Advisors LP
1.03%
35.85%
8.30%
8.14%
Seeks to provide a growing stream of
income over time and, secondarily,
long-term capital appreciation and
current income.
Brighthouse/Wellington Core Equity
Opportunities Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Wellington Management
Company LLP
0.87%
7.54%
8.02%
10.45%
Seeks maximum capital
appreciation.
Frontier Mid Cap Growth
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Frontier Capital
Management Company, LLC
0.94%
4.90%
3.52%
9.88%
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%
A-6
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 track the performance of
the Bloomberg U.S. Aggregate Bond
Index.
MetLife Aggregate Bond Index
Portfolio — Class G#
Brighthouse Investment Advisers,
LLC
Subadviser: MetLife Investment
Management, LLC
0.56%
6.79%
-0.92%
1.46%
Seeks to track the performance of
the Standard & Poor’s MidCap
400® Composite Stock Price Index.
MetLife Mid Cap Stock Index
Portfolio — Class G
Brighthouse Investment Advisers,
LLC
Subadviser: MetLife Investment
Management, LLC
0.60%
6.82%
8.48%
10.10%
Seeks to track the performance of
the MSCI EAFE® Index.
MetLife MSCI EAFE® Index
Portfolio — Class G
Brighthouse Investment Advisers,
LLC
Subadviser: MetLife Investment
Management, LLC
0.67%
30.71%
8.30%
7.71%
Seeks to track the performance of
the Russell 2000® Index.
MetLife Russell 2000® Index
Portfolio — Class G
Brighthouse Investment Advisers,
LLC
Subadviser: MetLife Investment
Management, LLC
0.60%
12.37%
5.68%
9.22%
Seeks to track the performance of
the Standard & Poor’s 500®
Composite Stock Price Index.
MetLife Stock Index
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: MetLife Investment
Management, LLC
0.52%
17.28%
13.84%
14.24%
Seeks capital appreciation.
MFS® Value Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Massachusetts Financial
Services Company
0.83%
13.00%
9.84%
9.99%
Seeks high total return, consisting
principally of capital appreciation.
Neuberger Berman Genesis
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Neuberger Berman
Investment Advisers LLC
1.06%
-4.74%
2.62%
8.86%
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 to maximize total return
consistent with preservation of
capital.
Western Asset Management Strategic
Bond Opportunities
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Western Asset
Management Company LLC
0.82%
8.88%
1.17%
3.77%
A-7
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 B#
Brighthouse Investment Advisers,
LLC
Subadviser: Western Asset
Management Company LLC
0.75%
6.81%
0.35%
1.57%
Seeks long-term growth of capital.
Janus Henderson Global Sustainable
Equity Portfolio — Service Shares#
Janus Henderson Investors US LLC
0.99%
17.26%
 — 
 — 
#
Certain Investment Portfolios and their investment advisers have entered into temporary expense reimbursements and/or fee waivers, which are reflected in the Current Expenses. Please see the Investment Portfolios' prospectuses for additional information regarding these arrangements.
*
This Investment Portfolio is managed in a way that is intended to minimize volatility of returns (referred to as a “managed volatility strategy”). See “Principal Risks of Investing in the Contract.”
‡
This Investment Portfolio is a fund of funds and invests substantially all of its assets in other underlying funds. Because the Investment Portfolio invests in other funds, it will bear its pro rata portion of the operating expenses of those underlying funds, including the management fee.
A-8
APPENDIX B
Investment Portfolios Available Under the Benefits Offered Under the Contract
If you have elected an optional benefit under the contract, your contract may be subject to investment allocation restrictions, as reflected in the following table. See “Investment Allocation Restrictions for Certain Riders” for more details. If your optional benefit is not included in the table below, your contract is not currently subject to any investment allocation restrictions.  
Optional Benefit
GWB v1
FlexChoice Access GLWB
FlexChoice GLWB
You may not allocate Purchase Payments to the Standard Dollar Cost Averaging Program if you elect any of these optional benefits.
Investment Allocation and Other Purchase Payment Restrictions for the GWB v1 Rider
GWB v1 Rider. If you elect the GWB v1 rider, you may allocate your Purchase Payments and Account Value only among the following Investment Portfolios:
 
AB Global Dynamic Allocation Portfolio
BlackRock Global Tactical Strategies Portfolio
Brighthouse Balanced Plus Portfolio
Invesco Balanced-Risk Allocation Portfolio
JPMorgan Global Active Allocation Portfolio
MetLife Aggregate Bond Index Portfolio
MetLife Multi-Index Targeted Risk Portfolio
PanAgora Global Diversified Risk Portfolio
Schroders Global Multi-Asset Portfolio
Western Asset Management Government Income Portfolio
Investment Allocation and Other Purchase Payment Restrictions for the GLWB
FlexChoice Access GLWB (available for purchase on and after February 12, 2018). If you elect the FlexChoice Access GLWB, you must allocate your investments according to either Option A or Option B below.
Option A. You must allocate 100% of your Purchase Payments or Account Value among:
 
AB Global Dynamic Allocation Portfolio
American Funds® Balanced Allocation Portfolio
American Funds® Moderate Allocation Portfolio
BlackRock Global Allocation V.I. Fund
BlackRock Global Tactical Strategies Portfolio
Brighthouse Asset Allocation 20 Portfolio
Brighthouse Asset Allocation 40 Portfolio
Brighthouse Asset Allocation 60 Portfolio
Brighthouse Balanced Plus Portfolio
Invesco Balanced-Risk Allocation Portfolio
JPMorgan Global Active Allocation Portfolio
Loomis Sayles Global Allocation Portfolio
MetLife Multi-Index Targeted Risk Portfolio
PanAgora Global Diversified Risk Portfolio
Schroders Global Multi-Asset Portfolio
State Street Moderate ETF Portfolio
OR
Option B. You must allocate up to 70% of Purchase Payments or Account Value to Platform 1 portfolios; and at least 30% of Purchase Payments or Account Value to Platform 2 portfolios. We will automatically rebalance your allocations quarterly. The investment options in each Platform are: 
Platform 1
Platform 2
A maximum of 70% of Purchase Payments or
Account Value
A minimum of 30% of Purchase Payments or
Account Value
AB Global Dynamic Allocation Portfolio
AB International Bond Portfolio
B-1
Platform 1
Platform 2
A maximum of 70% of Purchase Payments or
Account Value
A minimum of 30% of Purchase Payments or
Account Value
Allspring Mid Cap Value Portfolio
BlackRock Bond Income Portfolio
American Funds® Aggressive Allocation Portfolio
BlackRock High Yield Portfolio
American Funds® Balanced Allocation Portfolio
BlackRock Ultra-Short Term Bond Portfolio
American Funds® Growth Portfolio
Brighthouse/Eaton Vance Floating Rate Portfolio
American Funds® Moderate Allocation Portfolio
Brighthouse/Franklin Low Duration Total Return Portfolio
Baillie Gifford International Stock Portfolio
JPMorgan Core Bond Portfolio
BlackRock Capital Appreciation Portfolio
MetLife Aggregate Bond Index Portfolio
BlackRock Global Allocation V.I. Fund
PIMCO Inflation Protected Bond Portfolio
BlackRock Global Tactical Strategies Portfolio
PIMCO Total Return Portfolio
Brighthouse Asset Allocation 100 Portfolio
Western Asset Management Government Income Portfolio
Brighthouse Asset Allocation 20 Portfolio
Western Asset Management Strategic Bond Opportunities
Portfolio
Brighthouse Asset Allocation 40 Portfolio
Western Asset Management U.S. Government Portfolio
Brighthouse Asset Allocation 60 Portfolio
 
Brighthouse Asset Allocation 80 Portfolio
 
Brighthouse Balanced Plus Portfolio
 
Brighthouse Small Cap Value Portfolio
 
Brighthouse/Artisan Mid Cap Value Portfolio
 
Brighthouse/Dimensional International Small Company
Portfolio
 
Brighthouse/Wellington Core Equity Opportunities
Portfolio
 
CBRE Global Real Estate Portfolio
 
Frontier Mid Cap Growth Portfolio
 
Harris Oakmark International Portfolio
 
Invesco Balanced-Risk Allocation Portfolio
 
Invesco Comstock Portfolio
 
Invesco Global Equity Portfolio
 
Invesco Small Cap Growth Portfolio
 
Janus Henderson Global Sustainable Equity Portfolio
 
Jennison Growth Portfolio
 
JPMorgan Global Active Allocation Portfolio
 
Loomis Sayles Global Allocation Portfolio
 
Loomis Sayles Growth Portfolio
 
MetLife Mid Cap Stock Index Portfolio
 
MetLife MSCI EAFE® Index Portfolio
 
MetLife Multi-Index Targeted Risk Portfolio
 
MetLife Russell 2000® Index Portfolio
 
MetLife Stock Index Portfolio
 
MFS® Research International Portfolio
 
MFS® Value Portfolio
 
Neuberger Berman Genesis Portfolio
 
PanAgora Global Diversified Risk Portfolio
 
Schroders Global Multi-Asset Portfolio
 
B-2
Platform 1
Platform 2
A maximum of 70% of Purchase Payments or
Account Value
A minimum of 30% of Purchase Payments or
Account Value
State Street Emerging Markets Enhanced Index Portfolio
 
State Street Moderate ETF Portfolio
 
State Street Moderately Aggressive ETF Portfolio
 
T. Rowe Price Large Cap Growth Portfolio
 
T. Rowe Price Large Cap Value Portfolio
 
T. Rowe Price Mid Cap Growth Portfolio
 
Victory Sycamore Mid Cap Value Portfolio
 
 
FlexChoice GLWB (available for purchase prior to February 12, 2018). For contracts issued with FlexChoice GLWB, you must allocate a minimum of 80% of your investments to Platform 1 and you may allocate a maximum of 20% of your investment to Platform 2 below. You select the amount to invest (by percentage) in the funds under the contract, but the amount of Purchase Payments or Account Value that you allocate to the groups identified below must comply with the specified minimums or maximums percentages for those groups. We will automatically rebalance your allocations quarterly. 
Platform 1
Platform 2
A minimum of 80% of your Purchase Payments
or Account Value
A maximum of 20% of Purchase Payments or
Account Value
AB Global Dynamic Allocation Portfolio
American Funds® Balanced Allocation Portfolio
BlackRock Global Tactical Strategies Portfolio
American Funds® Moderate Allocation Portfolio
Brighthouse Balanced Plus Portfolio
Brighthouse Asset Allocation 20 Portfolio
Invesco Balanced-Risk Allocation Portfolio
Brighthouse Asset Allocation 40 Portfolio
JPMorgan Global Active Allocation Portfolio
Brighthouse Asset Allocation 60 Portfolio
MetLife Aggregate Bond Index Portfolio
State Street Moderate ETF Portfolio
MetLife Multi-Index Targeted Risk Portfolio
 
PanAgora Global Diversified Risk Portfolio
 
Schroders Global Multi-Asset Portfolio
 
Western Asset Management Government Income Portfolio
 
B-3
 
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 (888) 243-1932, 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/BHF54.
Reports and other information about the Separate Account are available on the SEC’s website at https://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 C000168035 (Class S) and C000168036 (Class S-L Share Option)

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