Form 497VPU Brighthouse Separate
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Unallocated Group Variable Annuity
ISSUED BY
BRIGHTHOUSE LIFE INSURANCE COMPANY
Updating Summary Prospectus
April 27, 2026
A Flexible Premium Variable Annuity Contract
The prospectus for Unallocated Group Variable
Annuity,
a flexible premium variable 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/BHF122. 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.
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 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 (if applicable). For example, Contract Year
also means Certificate Year.
Contract Owner — the person named in
the Contract (on the specifications page). For certain group Contracts, the Contract Owner is the trustee or other entity which owns the
Contract.
Contract Value — the value of the Accumulation Units in Your Account (or a Participant’s Individual Account, if applicable) less any reductions for administrative charges, plus amounts held under the Fixed Account.
Contract Year — twelve-month periods beginning with the
Contract Date, or any anniversary thereof.
Fixed Account — an account that consists of all of the assets under the Contract other than those in the Separate Account. The Fixed Account is part of the general assets of the Company.
Funding Options -- the variable
investment options to which Purchase Payments under the Contract may be allocated. Funding Options are also referred to as
“Subaccounts.”
Participant — an individual participating under a group Contract or an eligible person who is a member in the
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 Section 401 of the Internal Revenue Code.
Purchase Payments — the premium
payment(s) applied to the Contract, less any Premium Taxes (if applicable).
Separate
Account — a segregated account, the assets of which are invested solely in the Underlying Funds. The assets of the Separate Account are held exclusively for the benefit of Contract
Owners.
Subaccount
– that portion of the assets of a Separate Account that is allocated to a particular Underlying 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."
You, Your — “You,”
depending on the context, may be the Certificate holder, the Participant or the Contract Owner and a natural person, a
trust established for the benefit of a natural person or a charitable remainder trust, or a Plan (or the employer purchaser who has purchased the Contract
on behalf of the Plan).
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.
3
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 |
| Former
Name |
New
Name |
| 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 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. If You withdraw money during the first 5 Contract Years (or the first 8 Contract Years if the Contract was issued before May 24, 2005), You may be
assessed a surrender charge of up to 5%, as a percentage of the amount
withdrawn. For example, if You make an early withdrawal, You could pay a surrender
charge of up to $5,000 on a $100,000 investment. This loss will be greater
if there are taxes or tax penalties. |
Fee Table and
Examples Charges and
Deductions –
Surrender Charge | |||
| Are There
Transaction
Charges? |
Yes. In addition to charges 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 and
Deductions | |||
| Are There
Ongoing Fees and
Expenses? |
Yes. The table below describes the fees and expenses that You may pay each
year, depending on the investment options You choose. Please refer to Your Contract specifications page for information about the specific fees You will
pay each year based on the options You have elected.
|
Fee Table and
Examples Charges and
Deductions Appendix A:
Investment
Options Available
Under the
Contract | |||
| Annual Fee |
Minimum |
Maximum | |||
| Base Contract1
|
1.53% |
1.53% | |||
| Portfolio Company fees and expenses2 |
0.27% |
1.37% | |||
| 1 As a percentage of average daily net assets of the Separate Account. 2 As a percentage of Underlying Fund assets before temporary expense reimbursements and/or fee waivers. | |||||
| Because Your Contract is customizable, the choices You make affect how
much You will pay. To help You understand the cost of owning Your
Contract, the following table shows the lowest and highest cost You could pay each year, based on current charges. This estimate assumes that You do not take withdrawals from the Contract, which could add surrender
charges that substantially increase costs. | |||||
| Lowest Annual Cost
$1,642 |
Highest Annual Cost
$2,542 | ||||
| Assumes: |
Assumes: | ||||
| ●Investment of $100,000 ●5% annual appreciation ●Least expensive Portfolio Company fees and expenses ●No additional Purchase Payments,
transfers, loans, or withdrawals ●No surrender charges |
●Investment of $100,000 ●5% annual appreciation ●Most expensive Portfolio
Company fees and expenses ●No additional Purchase Payments, transfers, loans, or
withdrawals ●No surrender charges | ||||
5
| |
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 surrender charges, taxes and tax penalties. Surrender charges may apply for the first 5 years
of the Contract (or 8 years for Contracts issued before May 24, 2005).
Surrender 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 (if available under Your Plan), and other Contract
benefits. The reduction may be more than the amount
withdrawn. ●The benefits of tax deferral also mean the Contract is more beneficial to investors with a long time horizon. |
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., Underlying Funds). ●Each investment option, including the Fixed Account, has its own unique
risks. ●You should review the prospectuses for the available Underlying Funds and the prospectus disclosure for the Fixed Account before making an investment decision. |
Principal Risks of
Investing in the
Contract | |||
| What Are the
Risks Related to
the Insurance
Company? |
An investment in 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 | |||
| |
Restrictions |
| |||
| Are There Any
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 limit transfer or 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. ●We reserve the right to limit transfers from the Fixed Account in any calendar year to 20% of the Contract Value in the Fixed Account as of the end of the preceding Contract Year. ●We reserve the right to remove or substitute the Underlying Funds that
are available as investment options under Contract. ●If You participate through a retirement Plan, your Plan may limit your
Funding Options. |
Transfers | |||
6
| |
Restrictions |
Location in
Prospectus | |||
| Are There Any
Restrictions on
Contract
Benefits? |
●Yes. ●You must select a specific Annuity option to exercise the Variable Liquidity Benefit during the Annuity Period. ●Withdrawals will reduce the value of the death benefit, perhaps
significantly. ●We may stop offering this optional benefit at any time for new sales. ●Except as otherwise provided, Contract benefits may not be modified or terminated by us. ●The availability of benefits may vary by employer or Plan administrator. You should reference Your Plan documents or speak with Your employer or Plan administrator for the benefits available to You. |
Death Benefit The Annuity Period – Variable
Liquidity Benefit | |||
| |
Taxes |
| |||
| What Are the
Contract’s Tax Implications? |
●Consult with a tax professional to determine the tax implications of an investment in and payments received under this Contract. ●If You purchase the Contract through a tax-qualified plan or individual
retirement account, You do not get any additional tax benefit.
●You will generally not be taxed on increases in the value of the Contract until they are withdrawn. Withdrawals will be subject to ordinary income tax, and may be subject to tax penalties if You take a withdrawal before age 59½. |
Federal Tax
Considerations | |||
| |
Conflicts of Interest |
| |||
| How Are
Investment
Professionals
Compensated? |
Investment professionals may receive compensation for selling this Contract
in the form of commissions, additional cash benefits (e.g., bonuses), and
non-cash compensation. This conflict of interest may influence an
investment professional to recommend this Contract over another
investment for which the investment professional is not compensated or
compensated less. |
Other
Information –
Distribution of
the Contracts | |||
| 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. |
Other Information – Distribution of the Contracts | |||
7
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/BHF122. You can
also request this information at no cost by calling (833) 208-3018 or sending an email request to
[email protected]. Availability of Underlying Funds may vary by employer or Plan administrator. You should reference Your
Plan documents or speak with Your employer or Plan administrator for the Underlying Funds available to You.
The current expenses and performance information below reflects fees and expenses of the Underlying Funds, but do not reflect the other fees and expenses that your Contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Underlying Fund’s past performance is not necessarily an indication of future performance.
| Investment Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/2025) | ||
| 1
Year |
5
Year |
10
Year | |||
| Seeks long-term growth of
capital. |
American Funds Global Growth Fund — Class 2# Capital Research and Management CompanySM
|
0.65% |
21.62% |
8.23% |
12.17% |
| Seeks growth of capital. |
American Funds Growth Fund — Class 2
Capital Research and Management
CompanySM |
0.58% |
20.24% |
13.37% |
17.97% |
| Seeks long-term growth of
capital and income. |
American Funds Growth-Income Fund — Class 2
Capital Research and Management
CompanySM |
0.53% |
18.06% |
13.90% |
13.92% |
| Seeks 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% |
| 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% |
A-1
| Investment Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/2025) | ||
| 1
Year |
5
Year |
10
Year | |||
| Seeks long-term capital
appreciation. |
Harris Oakmark International Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Harris Associates L.P.
|
0.72% |
33.17% |
6.72% |
7.01% |
| Seeks capital growth and
income. |
Invesco Comstock Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Invesco Advisers, Inc.
|
0.81% |
17.31% |
15.15% |
11.83% |
| Seeks capital appreciation. |
Invesco Global Equity Portfolio — Class E# Brighthouse Investment Advisers, LLC Subadviser: Invesco Advisers, Inc.
|
0.73% |
15.71% |
7.40% |
11.12% |
| Seeks long-term growth of
capital. |
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 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 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 E# Brighthouse Investment Advisers, LLC Subadviser: BlackRock Advisors, LLC
|
0.52% |
3.99% |
2.93% |
1.95% |
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 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 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% |
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 favorable total
return through investment
in a diversified portfolio. |
MFS® Total Return Portfolio — Class F# Brighthouse Investment Advisers, LLC Subadviser: Massachusetts Financial
Services Company |
0.82% |
10.89% |
6.20% |
7.44% |
| Seeks capital appreciation. |
MFS® Value Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Massachusetts Financial
Services Company |
0.58% |
13.29% |
10.11% |
10.27% |
| Seeks high total return,
consisting principally of
capital appreciation. |
Neuberger Berman Genesis Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Neuberger Berman
Investment Advisers LLC |
0.81% |
-4.57% |
2.86% |
9.12% |
| Seeks long-term growth of
capital. |
T. Rowe Price Large Cap Growth Portfolio — Class
B# Brighthouse Investment Advisers, LLC Subadviser: T. Rowe Price Associates,
Inc. |
0.81% |
15.45% |
9.37% |
14.10% |
| Seeks long-term capital
growth. |
T. Rowe Price Small Cap Growth Portfolio — Class
B Brighthouse Investment Advisers, LLC Subadviser: T. Rowe Price Associates,
Inc. |
0.76% |
10.00% |
5.48% |
10.60% |
| Seeks to maximize total
return consistent with
preservation of capital. |
Western Asset Management Strategic Bond Opportunities Portfolio
— Class A# Brighthouse Investment Advisers, LLC
Subadviser: Western Asset Management Company LLC |
0.57% |
9.07% |
1.42% |
4.03% |
| Seeks to maximize total
return consistent with
preservation of capital and
maintenance of liquidity. |
Western Asset Management U.S. Government Portfolio
— Class A# Brighthouse Investment Advisers, LLC
Subadviser: Western Asset Management Company LLC |
0.50% |
7.07% |
0.59% |
1.82% |
| Seeks long-term capital
appreciation. |
Contrafund® Portfolio — Service Class 2
Fidelity Management & Research Company
LLC Subadviser: FMR UK, FMR HK, and FMR Japan |
0.79% |
21.24% |
15.08% |
15.49% |
| Seeks long-term growth of
capital. |
Mid Cap Portfolio — Service Class 2
Fidelity Management & Research Company
LLC Subadviser: FMR UK, FMR HK, and FMR Japan |
0.80% |
11.49% |
9.83% |
10.31% |
| Seeks long-term capital
growth. |
Franklin Small-Mid Cap Growth VIP Fund — Class
2 Franklin Advisers, Inc. |
1.09% |
2.52% |
1.03% |
9.89% |
| 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% |
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. |
Templeton Foreign VIP Fund — Class 2# Templeton Investment Counsel, LLC |
1.08% |
29.19% |
8.25% |
5.75% |
| Seeks long-term growth of
capital. |
Janus Henderson Enterprise Portfolio — Service Shares
Janus Henderson Investors US LLC |
0.97% |
7.41% |
7.35% |
12.51% |
| Seeks capital appreciation. |
ClearBridge Small Cap Fund — Class A# Legg Mason Partners Fund Advisor, LLC Subadviser: ClearBridge Investments,
LLC |
1.07% |
12.73% |
4.22% |
6.14% |
| Seeks to maximize total
return, consistent with
prudent investment
management. Total return
consists of income and
capital appreciation. |
Western Asset Corporate Bond Fund — Class A Legg Mason
Partners Fund Advisor, LLC Subadvisers: Western Asset Management Company, LLC; Western Asset Management Company Limited; Western Asset Management Company Pte. Ltd.; Western Asset Management Company Ltd. |
0.90% |
4.06% |
-1.32% |
2.84% |
| Seeks capital appreciation. |
ClearBridge Variable Growth Portfolio — Class I Legg Mason
Partners Fund Advisor, LLC Subadviser: ClearBridge Investments, LLC |
0.87% |
13.32% |
5.24% |
7.47% |
| Seeks long-term growth of
capital. |
ClearBridge Variable Small Cap Growth Portfolio — Class
I Legg Mason Partners Fund Advisor, LLC Subadviser: ClearBridge Investments,
LLC |
0.81% |
9.23% |
-0.17% |
9.38% |
| Seeks to maximize total
return. |
Western Asset Variable Global High Yield Bond Portfolio — Class
I Legg Mason Partners Fund Advisor, LLC Subadvisers: Western Asset Management
Company, LLC; Western Asset
Management Company Limited; Western
Asset Management Company Pte. Ltd. |
0.81% |
9.96% |
2.56% |
5.33% |
| 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% |
A-5
| Investment Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/2025) | ||
| 1
Year |
5
Year |
10
Year | |||
| Seeks long-term 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.
††
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.
The following lists the Fixed Account option currently available under the
Contract. 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.
| Name |
Term (Guarantee Period) |
Guaranteed Minimum Interest Rate |
| Fixed Account |
12 months |
1% |
A-6
The prospectus and statement of
additional information ("SAI") include additional information. The prospectus and
SAI are dated the same as this summary prospectus and are incorporated by
reference. The prospectus and SAI are available, without charge, upon request. For a free copy, call us at
(833) 208-3018 or send an email request to [email protected]. You can also access the prospectus,
SAI and other information about the Contract online at https://dfinview.com/BHF/PUFT/BHF122.
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 C000075312
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