Form N-VP/A Brighthouse Variable

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April 23, 2025 9:55 AM EDT
 
The Variable Annuity Contract
issued by
Brighthouse Life Insurance Company
and
Brighthouse Variable Annuity Account C
 
COVA Series A
 
Disclosure Notice
April 28, 2025
A flexible premium deferred variable annuity contract
 
This Disclosure Notice provides certain updated information about your COVA Series A Variable Annuity Contract (the “Contract” or “contract”), a flexible premium deferred variable annuity contract issued by Brighthouse Life Insurance Company (“BLIC”, the “Company”, or “we” or “us”). The Contract is no longer available for purchase.
Updated financial statements for BLIC and Brighthouse Variable Annuity Account C (the “Separate Account”) are available, free of charge at https://dfinview.com/BHF/PUFT/BHF140. The Contract prospectus, dated May 1, 2000, as supplemented, is available and contains more information about the Contract including its features, benefits, and risks. You can obtain this information at no cost by calling (888) 243-1932 or by sending an email request to [email protected].
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 Disclosure Notice 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 and the Fixed Account.
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.
Fixed Account. The Fixed Account is part of our general account and offers an interest rate that is guaranteed by us. Our general account consists of all assets owned by us other than those in the Separate Account and our other separate accounts.
Investment Portfolios. The means of investing offered to Contract owners in various underlying fund portfolios. May also be referred to as “Portfolio Company.”
Monitored Portfolios. Certain Investment Portfolios on which we monitor transfer activity. We may change the Monitored Portfolios at any time without notice in our sole discretion.
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 C to hold the assets that underlie the Contracts.
Updated Information You Should Consider About the Contract
The information in this section of the Disclosure Notice is a summary of certain Contract features that have changed since the prospectus supplement dated April 29, 2024. This does not reflect all of the changes that have occurred since you entered into your Contract.
There have been no changes to the Contract to report in this section since the prospectus supplement dated April 29, 2024.
•Monitored Portfolios. We monitor transfer activity in the following Investment Portfolios for purposes of imposing our restrictions on frequent transfers:
Invesco Global Equity Portfolio
MFS® Research International Portfolio
Neuberger Berman Genesis Portfolio
T. Rowe Price Small Cap Growth Portfolio
Western Asset Management Strategic Bond Opportunities Portfolio
3
Important Information You Should Consider About the Contract 
 
Fees and Expenses
Location in
Prospectus
Charges for Early
Withdrawals
None.
Fee Tables and
Examples
Transaction
Charges
You may be charged for certain transactions, including a sales charge on
Purchase Payments and a charge for transfers of cash value between
investment options, which include the Investment Portfolios and the Fixed
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 Tables and
Examples
 
Expenses –
Sales Charge;
Transfer Fee
Ongoing Fees and
Expenses (annual
charges)
The table below describes the fees and expenses that you may pay each year,
depending on the 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 Tables and
Examples
 
Expenses –
Mortality and
Expense Risk
Charge;
Contract
Maintenance
Charge;
Expenses
 
Appendix A
Available
Under the
Contract
(located in this
Disclosure
Notice)
Annual Fee
Minimum
Maximum
Base Contract1
0.88%
0.88%
Investment options
(Portfolio Company fees and
expenses)2
0.40%
1.10%
Optional benefits available for
an additional charge
Not applicable.
Not applicable.
1 As a percentage of average Account Value in the Separate Account. The charge shown also
includes the Contract maintenance charge.
2 As a percentage of fund assets before temporary expense reimbursements and/or fee waivers.
 
 
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.
Lowest Annual Cost
$1,185
Highest Annual Cost
$1,710
Assumes:
Assumes:
●Investment of $100,000
●5% annual appreciation
●Least expensive Portfolio Company fees
and expenses
●No sales charges
●No additional Purchase Payments,
transfers, or withdrawals
●Investment of $100,000
●5% annual appreciation
●Most expensive Portfolio
Company fees and expenses
●No sales charges
●No additional Purchase
Payments, transfers, or
withdrawals
4
 
Risks
Location in
Prospectus
Risk of Loss
You can lose money by investing in this Contract, including loss of principal.
The Annuity
Contract
 
Investment
Options
Not a Short-Term
Investment
This Contract is not a short-term investment and is not appropriate for an
investor who needs ready access to cash.
During the accumulation phase, you can make withdrawals from your
Contract (either a partial or a complete withdrawal). The Contract has no
withdrawal charge.
The benefits of tax deferral mean the Contract is more beneficial to investors
with a long time horizon.
The Annuity
Contract
 
Investment
Options
Risks Associated
with 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., Portfolio Companies).
●Each investment option, including the Fixed Account, has its own unique
risks.
●You should review the prospectuses for the available funds and the
prospectuses disclosure concerning the Fixed Account before making an
investment decision.
Investment
Options
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 BLIC, including
our financial strength ratings, is available by contacting us at (888) 243-
1968.
The Annuity
Contract
 
Restrictions
 
Investments
●Currently, we allow unlimited transfers among investment options without
charge during the Accumulation Phase. However, we reserve the right to
impose a charge on 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 Portfolio Companies
available as investment options under the Contract.
Investment
Options
Optional Benefits
●None.
Not Applicable
 
Taxes
 
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.
Taxes
 
Conflicts of Interest
 
Investment
Professional
Compensation
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
5
 
Conflicts of Interest
Location in
Prospectus
Exchanges
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.
Contract
Exchanges
6
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/BHF140. You can also request this information at no cost by calling (888) 243-1932 or sending an email request to [email protected].
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 12/31/2024)
1
Year
5
Year
10
Year
Seeks long-term growth of capital.
Invesco V.I. EQV International
Equity Fund — Series I††
Invesco Advisers, Inc.
0.90%
0.62%
3.23%
4.36%
Seeks capital growth and income.
Invesco Comstock
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Invesco Advisers, Inc.
0.82%
14.73%
11.42%
9.39%
Seeks capital appreciation.
Invesco Global Equity
Portfolio — Class A††
Brighthouse Investment Advisers,
LLC
Subadviser: Invesco Advisers, Inc.
0.58%
16.42%
9.71%
10.10%
Seeks capital appreciation.
Invesco Global Equity
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Invesco Advisers, Inc.
0.83%
16.15%
9.43%
9.82%
Seeks long-term growth of capital.
Loomis Sayles Growth
Portfolio — Class B††
Brighthouse Investment Advisers,
LLC
Subadviser: Loomis, Sayles &
Company, L.P.
0.80%
34.13%
18.04%
11.87%
Seeks capital appreciation.
MFS® Research International
Portfolio — Class A††
Brighthouse Investment Advisers,
LLC
Subadviser: Massachusetts Financial
Services Company
0.64%
3.17%
4.12%
5.49%
Seeks capital appreciation.
MFS® Research International
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Massachusetts Financial
Services Company
0.89%
2.95%
3.87%
5.23%
A-1
Investment Objectives
Portfolio Company and
Adviser/Sub-Adviser
Current
Expenses
Average Annual
Total Returns
(as of 12/31/2024)
1
Year
5
Year
10
Year
Seeks capital appreciation.
Morgan Stanley Discovery
Portfolio — Class A#
Brighthouse Investment Advisers,
LLC
Subadviser: Morgan Stanley
Investment Management Inc.
0.66%
39.34%
10.89%
12.29%
Seeks maximum total return,
consistent with the preservation of
capital and prudent investment
management.
PIMCO Total Return
Portfolio — Class A#
Brighthouse Investment Advisers,
LLC
Subadviser: Pacific Investment
Management Company LLC
0.59%
2.73%
0.11%
1.68%
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 A#
Brighthouse Investment Advisers,
LLC
Subadviser: T. Rowe Price
Associates, Inc.
0.53%
11.37%
8.69%
8.72%
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.
0.94%
9.31%
7.65%
10.11%
Seeks high total return by investing
in equity securities of mid-sized
companies.
Victory Sycamore Mid Cap Value
Portfolio — Class A#
Brighthouse Investment Advisers,
LLC
Subadviser: Victory Capital
Management Inc.
0.60%
10.10%
11.03%
8.59%
Seeks long-term growth of capital.
Baillie Gifford International Stock
Portfolio — Class B††
Brighthouse Investment Advisers,
LLC
Subadviser: Baillie Gifford Overseas
Limited
0.98%
4.36%
1.91%
5.27%
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
0.64%
1.24%
-0.30%
1.40%
Seeks long-term growth of capital.
BlackRock Capital Appreciation
Portfolio — Class A††
Brighthouse Investment Advisers,
LLC
Subadviser: BlackRock Advisors,
LLC
0.56%
31.99%
16.00%
15.07%
A-2
Investment Objectives
Portfolio Company and
Adviser/Sub-Adviser
Current
Expenses
Average Annual
Total Returns
(as of 12/31/2024)
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 A#
Brighthouse Investment Advisers,
LLC
Subadviser: BlackRock Advisors,
LLC
0.37%
5.11%
2.34%
1.68%
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%
8.61%
8.97%
10.16%
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 E#
Brighthouse Investment Advisers,
LLC
Subadviser: Wellington Management
Company LLP
0.77%
8.46%
8.81%
9.99%
Seeks long-term growth of capital.
Jennison Growth
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Jennison Associates LLC
0.79%
30.00%
17.24%
16.08%
Seeks a favorable total return
through investment in a diversified
portfolio.
MFS® Total Return
Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Massachusetts Financial
Services Company
0.87%
7.52%
5.89%
6.24%
Seeks capital appreciation.
MFS® Value Portfolio — Class B#
Brighthouse Investment Advisers,
LLC
Subadviser: Massachusetts Financial
Services Company
0.83%
11.66%
7.96%
8.61%
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%
9.10%
8.58%
9.70%
Seeks long-term growth of capital.
T. Rowe Price Large Cap Growth
Portfolio — Class A††
Brighthouse Investment Advisers,
LLC
Subadviser: T. Rowe Price
Associates, Inc.
0.56%
30.31%
13.40%
13.89%
Seeks long-term capital growth.
T. Rowe Price Small Cap Growth
Portfolio — Class A
Brighthouse Investment Advisers,
LLC
Subadviser: T. Rowe Price
Associates, Inc.
0.51%
13.47%
8.32%
10.10%
A-3
Investment Objectives
Portfolio Company and
Adviser/Sub-Adviser
Current
Expenses
Average Annual
Total Returns
(as of 12/31/2024)
1
Year
5
Year
10
Year
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
0.56%
4.88%
1.01%
2.95%
Seeks long-term capital growth.
Templeton Foreign VIP
Fund — Class 1††
Templeton Investment Counsel,
LLC
0.81%
-0.79%
2.86%
2.64%
Seeks capital growth and current
income.
Putnam VT Large Cap Value
Fund — Class IB
Putnam Investment Management,
LLC
0.80%
19.14%
12.45%
10.88%
#
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.
††
Closed to new investments except under dollar cost averaging and rebalancing programs in existence at the time of closing.
A-4
  
This page intentionally left blank.
 
The prospectus, as supplemented, and statement of additional information (“SAI”), dated May 1, 2000, include additional information. The prospectus, as supplemented, 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 other information about the Contract online at https://dfinview.com/BHF/PUFT/BHF140.
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].
The Financial Industry Regulatory Authority (“FINRA”) provides background information about broker-dealers and their registered representatives through FINRA BrokerCheck. You may contact the FINRA BrokerCheck Hotline at 1-800-289-9999, or log on to www.finra.org. An investor brochure that includes information describing FINRA BrokerCheck is available through the Hotline or on-line.
We are not a fiduciary and do not give advice or make recommendations regarding insurance or investment products. Ask your financial representative for guidance regarding any requests or elections and for information about your particular investment needs. Please bear in mind that your financial representative, or any financial firm or financial professional you consult to provide advice, is acting on your behalf. We are not a party to any agreement between you and your financial professional. We do not recommend and are not responsible for any securities transactions or investment strategies involving securities (including account recommendations).
EDGAR Contract Identifier No. is C000151852

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