Brighthouse Variable Annuity Account B
04/20/2026 | Press release | Distributed by Public on 04/20/2026 12:57
Notice Document by Insurance Company (Form N-VP)
The Variable Annuity Contract
issued by
Brighthouse Life Insurance Company of NY
and
Brighthouse Variable Annuity Account B
PrimElite IVSM
Disclosure Notice
April 27, 2026
A flexible premium deferred variable annuity contract
This Disclosure Notice provides certain updated information about your PrimElite IVSM Variable Annuity Contract (the "Contract"), a flexible premium deferred variable annuity contract issued by Brighthouse Life Insurance Company of NY ("BLNY", the "Company", or "we" or "us"). The Contract is no longer available for purchase.
Updated financial statements for BLNY and Brighthouse Variable Annuity Account B (the "Separate Account") are available, free of charge at https://dfinview.com/BHF/PUFT/BHF35. The Contract prospectus, dated May 1, 2017, 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].
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 Disclosure Notice is accurate or complete. Any representation to the contrary is a criminal offense.
1
TABLE OF CONTENTS
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Page
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Special Terms
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3
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Updated Information You Should Consider About the Contract
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3
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Important Information You Should Consider About the Contract
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5
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APPENDIX A: Investment Portfolios Available Under the Contract
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A-1
|
2
Special Terms
Account Value. The sum of your interests in the Investment Portfolios and the Fixed Account, including the Enhanced Dollar Cost Averaging 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.
Investment Portfolios. The means of investing offered to 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 B 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 Disclosure Notice dated April 28, 2025. This does 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 BLNY will remain a wholly-owned subsidiary of BLIC. Although Aquarian will replace BHF as BLNY's ultimate parent, BLNY will continue in its present role as the issuer of your contract. All of your rights and benefits under your contract and BLNY'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 Trust/Investment Portfolio Reorganization. Each of the following Former Investment Portfolios has been reorganized into the New Investment Portfolios of the New Trust.
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Former Trust/Investment Portfolio
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New Trust/Investment Portfolio
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Legg Mason Partners Variable Equity Trust
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Lincoln Variable Insurance Products Trust
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ClearBridge Variable Appreciation Portfolio
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LVIP ClearBridge Appreciation Fund
|
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ClearBridge Variable Dividend Strategy Portfolio
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LVIP ClearBridge Dividend Strategy 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.
3
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Former Name
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New Name
|
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American Funds Insurance Series®
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American Funds Insurance Series®
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American Funds Global Small Capitalization Fund
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American Funds SMALLCAP World Fund®*
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Brighthouse Funds Trust I
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Brighthouse Funds Trust I
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SSGA Emerging Markets Enhanced Index Portfolio
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State Street Emerging Markets Enhanced Index Portfolio
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*The effective date of this name change is May 1, 2026.
Transfers
•Monitored Portfolios. We monitor transfer activity in the following "Monitored Portfolios" for purposes of imposing our restrictions on frequent transfers:
American Funds Global Growth Fund
American Funds Growth-Income Fund
American Funds SMALLCAP World Fund®
American Funds The Bond Fund of America
BlackRock High Yield Portfolio
CBRE Global Real Estate Portfolio
ClearBridge Variable Small Cap Growth Portfolio
Franklin Small Cap Value VIP Fund
Harris Oakmark International Portfolio
Invesco Small Cap Growth Portfolio
Invesco V.I. EQV International Equity Fund
Invesco V.I. Main Street Small Cap Fund®
Loomis Sayles Global Allocation Portfolio
MFS® Research International Portfolio
State Street Emerging Markets Enhanced Index Portfolio
Templeton Global Bond VIP Fund
Western Asset Management Strategic Bond Opportunities Portfolio
Western Asset Variable Global High Yield Bond Portfolio
4
Important Information You Should Consider About the Contract
|
Fees and Expenses
|
Location in
Prospectus
|
||||
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Are There
Charges or
Adjustments for
Early
Withdrawals?
|
Yes. If you withdraw money during the first 8 full Contract Years following
a Purchase Payment, you may be assessed a withdrawal charge of up to 8%
of the Purchase Payment, declining to 0% over that time period.
For example, if you make an early withdrawal, you could pay a withdrawal
charge of up to $8,000 on a $100,000 investment. This loss will be greater if
there are taxes or tax penalties.
|
Fee Tables and
Examples
Expenses -
Withdrawal
Charge
|
|||
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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,
which includes the Investment Portfolios.
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 -
Transfer Fee
|
|||
5
|
Fees and Expenses
|
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 Tables and
Examples
Expenses -
Product
Charges
Appendix A:
Investment
Portfolios
Available
Under the
Contract
(located in this
Disclosure
Notice)
|
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Annual Fee
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Minimum
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Maximum
|
|||
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Base Contract1
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0.97%
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1.37%
|
|||
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Investment Portfolio fees and
expenses2
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0.53%
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1.15%
|
|||
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Optional benefits available for
an additional charge (for a
single optional benefit, if
elected)
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0.15%3
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1.55%4
|
|||
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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 average Account Value in the Separate Account. This charge is the current
charge for the least expensive optional benefit.
4 As a percentage of the Total Guaranteed Withdrawal Amount, which is a value used to
calculate your benefit. This charge is the current charge for the most expensive optional benefit.
|
|||||
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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.
|
|||||
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Lowest Annual Cost
$1,736
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Highest Annual Cost
$3,754
|
||||
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Assumes:
|
Assumes:
|
||||
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●Investment of $100,000
●5% annual appreciation
●Least expensive 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 optional benefits and
Investment Portfolio fees and
expenses
●No sales charges
●No additional purchase
payments, transfers, or
withdrawals
|
||||
6
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Risks
|
Location in
Prospectus
|
||||
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Is There a Risk of
Loss from Poor
Performance?
|
Yes. You can lose money by investing in this Contract, including loss of
principal.
|
The Annuity
Contract
Investment
Options
|
|||
|
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 8 full Contract Years following a
Purchase Payment. Withdrawal charges will reduce the value of your
Contract if you withdraw money during that time. Withdrawals could
significantly reduce the value of your Contract, the death benefit, and other
Contract benefits, including the optional death benefit. 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.
|
The Annuity
Contract
Investment
Options
|
|||
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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., the Investment Portfolios).
●Each investment option has its own unique risks.
●You should review the prospectuses for the available funds before making
an investment decision.
|
Investment
Options
|
|||
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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 BLNY, including our financial strength ratings,
is available by contacting us at (888) 243-1968.
|
The Annuity
Contract
Other
Information -
The Separate
Account
|
|||
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Restrictions
|
|||||
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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 Portfolio
available as investment options under the Contract.
|
Investment
Options
|
|||
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Are There Any
Restrictions on
Contract Benefits?
|
Yes.
●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.
●Except as otherwise provided, Contract benefits may not be modified or
terminated by us.
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Death Benefit
|
|||
7
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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
|
|||
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Conflicts of Interest
|
|||||
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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.
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Other
Information -
Selling Firms
|
|||
|
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
|
|||
8
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/BHF35. 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 12/31/2025)
|
||
|
1
Year
|
5
Year
|
10
Year
|
|||
|
Seeks both capital appreciation and
current income.
|
Invesco V.I. Equity and Income
Fund - Series II
Invesco Advisers, Inc.
|
0.82%
|
12.52%
|
8.68%
|
8.64%
|
|
Seeks long-term growth of capital.
|
Invesco V.I. EQV International
Equity Fund - Series II
Invesco Advisers, Inc.
|
1.15%
|
16.23%
|
3.42%
|
5.95%
|
|
Seeks capital appreciation.
|
Invesco V.I. Main Street Small Cap
Fund® - Series II
Invesco Advisers, Inc.
|
1.09%
|
8.44%
|
8.07%
|
10.31%
|
|
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 long-term growth of capital.
|
American Funds SMALLCAP World
Fund® - Class 21#
Capital Research and Management
CompanySM
|
0.90%
|
14.64%
|
0.49%
|
7.23%
|
|
Seeks as high a level of current
income as is consistent with the
preservation of capital.
|
American Funds The Bond Fund of
America - Class 2#
Capital Research and Management
CompanySM
|
0.47%
|
7.26%
|
-0.14%
|
2.36%
|
|
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 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 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%
|
|
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 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 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 A#
Brighthouse Investment Advisers,
LLC
Subadviser: Loomis, Sayles &
Company, L.P.
|
0.55%
|
15.21%
|
15.06%
|
14.19%
|
|
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-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 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 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 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 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 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 B#
Brighthouse Investment Advisers,
LLC
Subadviser: BlackRock Advisors,
LLC
|
0.62%
|
3.89%
|
2.83%
|
1.85%
|
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 high level of current income
consistent with prudent investment
risk and preservation of capital.
|
BlackRock Ultra-Short Term Bond
Portfolio - Class E††
Brighthouse Investment Advisers,
LLC
Subadviser: BlackRock Advisors,
LLC
|
0.52%
|
3.99%
|
2.93%
|
1.95%
|
|
Seeks 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 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 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 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.
|
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%
|
|
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 capital appreciation.
|
Contrafund® Portfolio - Service
Class††
Fidelity Management & Research
Company LLC
Subadviser: FMR UK, FMR HK, and
FMR Japan
|
0.64%
|
21.42%
|
15.26%
|
15.66%
|
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 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 to maximize income while
maintaining prospects for capital
appreciation.
|
Franklin Income VIP
Fund - Class 2
Franklin Advisers, Inc.
|
0.72%
|
12.56%
|
7.66%
|
7.30%
|
|
Seeks capital appreciation, with
income as a secondary goal.
|
Franklin Mutual Shares VIP
Fund - Class 2
Franklin Mutual Advisers, LLC
|
0.94%
|
11.52%
|
9.20%
|
7.53%
|
|
Seeks long-term total return.
|
Franklin Small Cap Value VIP
Fund - Class 2#
Franklin Mutual Advisers, LLC
|
0.91%
|
7.65%
|
8.86%
|
9.81%
|
|
Seeks high current income,
consistent with preservation of
capital, with capital appreciation as
a secondary consideration.
|
Templeton Global Bond VIP
Fund - Class 2#
Franklin Advisers, Inc.
|
0.75%
|
15.73%
|
-0.96%
|
-0.15%
|
|
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 a balance of growth of capital
and income.
|
Franklin Multi-Asset Variable
Conservative Growth
Fund - Class I‡
Legg Mason Partners Fund Advisor,
LLC
Subadviser: Franklin Advisers, Inc.
|
0.59%
|
12.76%
|
6.69%
|
7.70%
|
|
Seeks capital appreciation.
|
Franklin Multi-Asset Variable
Growth Fund - Class I‡
Legg Mason Partners Fund Advisor,
LLC
Subadviser: Franklin Advisers, Inc.
|
0.78%
|
16.56%
|
11.01%
|
10.59%
|
|
Seeks to maximize total return.
|
Western Asset Variable Global High
Yield Bond Portfolio - Class I
Legg Mason Partners Fund Advisor,
LLC
Subadvisers: Western Asset
Management Company, LLC;
Western Asset Management
Company Limited; Western Asset
Management Company Pte. Ltd.
|
0.81%
|
9.96%
|
2.56%
|
5.33%
|
A-5
|
Investment Objectives
|
Portfolio Company and
Adviser/Sub-Adviser
|
Current
Expenses
|
Average Annual
Total Returns
(as of 12/31/2025)
|
||
|
1
Year
|
5
Year
|
10
Year
|
|||
|
Seeks long-term capital appreciation.
|
LVIP ClearBridge Appreciation
Fund - Class I#
Legg Mason Partners Fund Advisor,
LLC
Subadviser: ClearBridge
Investments, LLC
|
0.70%
|
14.50%
|
12.72%
|
13.34%
|
|
Seeks dividend income, growth of
dividend income and long-term
capital appreciation.
|
LVIP ClearBridge Dividend Strategy
Fund - Class II#
Legg Mason Partners Fund Advisor,
LLC
Subadviser: ClearBridge
Investments, LLC
|
1.00%
|
12.46%
|
11.69%
|
12.29%
|
|
Seeks capital appreciation by
investing in a diversified portfolio of
securities consisting primarily of
common stocks.
|
Victory Pioneer Mid Cap Value VCT
Portfolio - Class II#
Victory Capital Management Inc.
|
1.02%
|
10.86%
|
10.88%
|
8.73%
|
#
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 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.
††
Closed to new investments except under dollar cost averaging and rebalancing programs in existence at the time of closing.
1
Until May 1, 2026, the name of this Investment Portfolio is American Funds Global Small Capitalization Fund.
A-6
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The prospectus, as supplemented, and statement of additional information ("SAI"), dated May 1, 2017, 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/BHF35.
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 C000040657
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