Registration Statement Under the Securities Act of 1933 |
|
Pre-Effective Amendment No. |
☐ |
Post-Effective Amendment No. 35 |
☒ |
And |
|
Registration Statement Under the Investment Company Act of 1940 |
|
Amendment No. 77 |
☒ |
Issued By |
New England Variable Annuity Separate Account of |
New England Life Insurance Company |
11225 North Community House Road |
Charlotte, NC 28277 |
(800) 435-4117 |
|
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A-1 | |
B-1 | |
C-1 | |
D-1 | |
E-1 | |
F-1 | |
G-1 |
|
Fees and Expenses |
Location in
Prospectus | |||
Charges for Early
Withdrawals |
Your Contract may be subject to Withdrawal Charges depending on the
Class
of Contract that you own. •Standard Class
: If you withdraw money during the first 7 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to 7% of the purchase payment withdrawn, declining to 0%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. •B Plus Class
: If you withdraw money during the first 9 years following a
purchase payment, you may be assessed a Withdrawal Charge of up to
9% of the purchase payment withdrawn, declining to 0% over
that time period. •L Class
: If you withdraw money during the first 3 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7% of the purchase payment withdrawn, declining to 0% over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. •P Class
: If you withdraw money during the first 9 years following a
purchase payment, you may be assessed a Withdrawal Charge of up to
8% of the purchase payment withdrawn, declining to 0% over
that time period. |
Fee Table and
Examples Asset-Based
Insurance Charge,
Withdrawal Charge
and Other
Deductions –
Withdrawal Charge | |||
Transaction
Charges |
In addition to Withdrawal Charges (if any), you also may be charged for
the following transactions: transfers of cash value between
investment options, which include the
Eligible Funds and the
Fixed Account.
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 The Contracts –
Transfer Privilege |
|
Fees and Expenses |
Location in
Prospectus | |||
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 Table and
Examples Asset-Based
Insurance Charge,
Withdrawal Charge
and Other
Deductions | |||
Annual Fee |
Minimum |
Maximum | |||
1.17%
|
1.62%
| ||||
Investment options
(Portfolio Company
fees and expenses)2 |
0.53%
|
1.23%
| |||
Optional benefits
available for an
additional charge
(for a single optional
benefit, if elected) |
0.20%3 |
1.50%4 | |||
1 As a percentage of average daily net assets in the subaccounts. The charge shown also
includes the annual Contract Administrative Fee.
2 As a percentage of fund assets before temporary expense reimbursements and/or fee
waivers, plus any applicable Platform Charge.
3 As a percentage of average daily net assets in the subaccounts. 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. | |||||
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
$1,650 |
Highest Annual Cost
$5,728 | ||||
Assumes: |
Assumes: | ||||
•Investment of $100,000 •5% annual appreciation •No optional benefits •No bonuses •No additional Purchase Payments,
transfers, or withdrawals |
•Investment of $100,000 •5% annual appreciation •Most expensive combination of Contract Classes
, optional benefits and Portfolio Company fees and expenses •No bonuses •No additional Purchase
Payments, transfers, or
withdrawals |
|
Risks |
Location in
Prospectus | |||
Risk of Loss |
You can lose money by investing in this Contract including loss of
principal. |
Principal Risks of
Investing in the
Contract | |||
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. •Unless you own a C Class Contract, if you take an early withdrawal,
Withdrawal Charges may apply that will reduce the value of
your Contract. •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 | |||
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
prospectus disclosure concerning the
Fixed Account before making an
investment decision. |
Principal Risks of
Investing in the
Contract | |||
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
Variable 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 NELICO, including our financial strength
ratings, is available by contacting us at (888)
243-1968. |
Principal Risks of
Investing in the
Contract | |||
|
Restrictions |
| |||
Investments |
•Currently, we allow unlimited transfers without charge among investment options during the accumulation phase. However, we reserve the right to impose a charge for transfers in excess of 12 per year. •Special rules may limit the amount that may be transferred from the
Fixed Account
during a Contract Year. •We may limit or prohibit subsequent purchase payments. •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. |
The Contracts The Fixed Account | |||
Optional Benefits |
•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 could limit subsequent purchase payments. •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. •For B Plus Contracts, bonus amounts may not be included in the calculation of an optional benefit, as well as the standard death benefit. |
Benefits Available Under the Contract |
|
Taxes |
Location in
Prospectus | |||
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
Considerations | |||
|
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. |
Distribution of the
Contracts | |||
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. |
Replacement of Contracts |
|
Standard Class |
B Plus Class |
C Class |
L Class |
P Class |
Withdrawal
Charge(1) (as a percentage of each purchase payment) |
7% |
9% |
None |
7% |
8% |
Transfer
Fee(2) |
$25 $0 (First 12 per
year) |
Number of Complete Years from Receipt of Purchase Payment |
Standard Class |
B Plus Class |
C Class |
L Class |
P Class |
0 |
7% |
9% |
None |
7% |
8% |
1 |
6% |
8% |
|
6% |
8% |
2 |
6% |
8% |
|
5% |
8% |
3 |
5% |
7% |
|
0% |
7% |
4 |
4% |
6% |
|
0% |
6% |
5 |
3% |
5% |
|
0% |
5% |
6 |
2% |
4% |
|
0% |
4% |
7 |
0% |
2% |
|
0% |
3% |
8 |
0% |
2% |
|
0% |
2% |
9 and thereafter |
0% |
0% |
|
0% |
0% |
Administrative
Expenses(1) |
$30 |
|
Standard Class |
B Plus Class(3) |
C Class |
L Class |
P Class |
Base Contract Expenses(2) (as a percentage of average daily net assets in the subaccounts) |
1.25% |
1.60% |
1.60% |
1.50% |
1.15% |
Optional Death Benefit – Annual Step-Up Death Benefit(5) (as a percentage of average daily net assets in the subaccounts) |
0.20% | |
Optional Death Benefit – Greater of Annual Step-Up or 5% Annual Increase Death Benefit(5) (as a percentage of average daily net assets in the subaccounts) |
0.35% | |
Additional Death Benefit – Enhanced Death Benefit Rider(6) as a percentage of the death benefit base) |
| |
|
Maximum Charge |
1.50% |
|
Current Charge (issue age 0-69) |
0.75% |
|
Current Charge (issue age 70-75) |
0.95% |
Earnings Preservation Benefit Rider(7) (as a percentage of average daily net assets in the subaccounts) |
0.25% | |
Guaranteed Minimum Income Benefit Plus II(8),(9)
(as a percentage of the Income Base) |
| |
|
Maximum Charge |
1.50% |
|
Current Charge |
1.00% |
Guaranteed Minimum Income Benefit Plus I(9) (as a percentage of the Income Base) |
| |
|
Maximum Charge |
1.50% |
|
Current Charge |
0.80% |
Guaranteed Minimum Income Benefit II or Guaranteed Minimum Income Benefit I(9) (as a percentage of the Income Base) |
| |
|
Maximum Charge |
0.50% |
|
Current Charge |
0.50% |
Guaranteed Withdrawal Benefit I(10) (as a percentage of the Total Guaranteed Withdrawal Amount) |
| |
|
Maximum Charge |
0.95% |
|
Current Charge |
0.50% |
Enhanced Guaranteed Withdrawal Benefit(10) (as a percentage of the Total Guaranteed Withdrawal Amount) |
| |
|
Maximum Charge |
1.00% |
|
Current Charge |
0.55% |
Lifetime Withdrawal Guarantee II Benefit (Single Life Version)(11)
(as a percentage of the Total Guaranteed Withdrawal
Amount) |
| |
|
Maximum Charge |
1.60% |
|
Current Charge |
1.25% |
Lifetime Withdrawal Guarantee II Benefit (Joint Life Version)(11) (as a percentage of the Total Guaranteed Withdrawal Amount) |
| |
|
Maximum Charge |
1.80% |
|
Current Charge |
1.50% |
Lifetime Withdrawal Guarantee I Benefit (Single Life version)(11) (as a percentage of the Total Guaranteed Withdrawal Amount) |
| |
|
Maximum Charge |
0.95% |
|
Current Charge |
0.50% |
Lifetime Withdrawal Guarantee I Benefit (Joint Life version)(11)
(as a percentage of the Total Guaranteed Withdrawal
Amount) |
| |
|
Maximum Charge |
1.40% |
|
Current Charge |
0.70% |
Guaranteed Minimum Accumulation Benefit(12) (as a percentage of the Guaranteed Accumulation Amount) |
0.75% |
|
Minimum |
Maximum |
Total Annual Eligible Fund Expenses |
|
|
(expenses that are deducted from Eligible Fund assets, including management fees, distribution
and/or service (12b-1) fees, and other expenses) |
0.53 % |
1.23 % |
|
1 Year |
3 Years |
5 Years |
10 Years |
(a) ....................... |
$12,730
|
$23,584
|
$33,982
|
$63,525
|
(b) ....................... |
$12,730
|
$23,706
|
$34,404
|
$65,599
|
|
1 Year |
3 Years |
5 Years |
10 Years |
(a) ....................... |
$5,730
|
$17,584
|
$29,982
|
$63,525
|
(b) ....................... |
$5,730
|
$17,706
|
$30,404
|
$65,599
|
|
1 Year |
3 Years |
5 Years |
10 Years |
(a) ....................... |
$15,324
|
$27,724
|
$40,184
|
$74,978
|
(b) ....................... |
$15,324
|
$27,771
|
$40,351
|
$75,850
|
|
1 Year |
3 Years |
5 Years |
10 Years |
(a) ....................... |
$6,324
|
$19,724
|
$34,184
|
$74,978
|
(b) ....................... |
$6,324
|
$19,771
|
$34,351
|
$75,850
|
|
1 Year |
3 Years |
5 Years |
10 Years |
(a) ....................... |
$6,080
|
$18,594
|
$31,592
|
$66,334
|
(b) ....................... |
$6,080
|
$18,723
|
$32,037
|
$68,495
|
|
1 Year |
3 Years |
5 Years |
10 Years |
(a) ....................... |
$12,980
|
$23,306
|
$31,134
|
$65,542
|
(b) ....................... |
$12,980
|
$23,433
|
$31,573
|
$67,679
|
|
1 Year |
3 Years |
5 Years |
10 Years |
(a) ....................... |
$5,980
|
$18,306
|
$31,134
|
$65,542
|
(b) ....................... |
$5,980
|
$18,433
|
$31,573
|
$67,679
|
|
1 Year |
3 Years |
5 Years |
10 Years |
(a) ....................... |
$13,630
|
$25,294
|
$35,518
|
$62,703
|
(b) ....................... |
$13,630
|
$25,415
|
$35,933
|
$64,752
|
|
1 Year |
3 Years |
5 Years |
10 Years |
(a) ....................... |
$5,630
|
$17,294
|
$29,518
|
$62,703
|
(b) ....................... |
$5,630
|
$17,415
|
$29,933
|
$64,752
|
Issue Age |
Percentage |
Ages 69 or younger |
40 % |
Ages 70-79 |
25 % |
Ages 80 and above |
0 % |
Death Claims |
P.O. Box 4330
Clinton, IA 52733-4330
Fax: (877) 245-8163 |
Annuity Payments/Income |
|
• Election of Annuity – requests to receive regular income payments |
P.O. Box 4365 Clinton, IA 52733-4365 Telephone: (800) 882-1292 Fax: (877) 246-8424 |
• Death Claims for Contracts receiving Annuity Payments |
P.O. Box 4364 Clinton, IA 52733-4364 Telephone: (800) 882-1292 Fax: (877) 245-8163 |
• General requests and elections for Contracts receiving Annuity Payments |
P.O. Box 4363
Clinton, IA 52733-4363
Telephone: (800) 882-1292
Fax: (877) 246-8424 |
All other requests and elections, including subsequent
Purchase
Payments, and general inquiries |
P.O. Box 4301 Clinton, IA 52733-4301 Telephone: (888) 243-1932 Fax: (877) 246-8424 |
Death Benefit** |
Standard Class |
B Plus Class*** |
C Class |
L Class |
P Class |
Standard Death Benefit |
1.25% |
1.60% |
1.60% |
1.50% |
1.15% |
Annual Step-Up Death Benefit |
1.45% |
1.80% |
1.80% |
1.70% |
1.35% |
Greater of Annual Step-Up or 5% Annual Increase Death Benefit |
1.60% |
1.95% |
1.95% |
1.85% |
1.50% |
Number of Complete Years from Receipt of Purchase Payment |
Standard Class
Charge |
B Plus Class Charge |
L Class Charge |
P Class Charge |
0 |
7% |
9% |
7% |
8% |
1 |
6% |
8% |
6% |
8% |
2 |
6% |
8% |
5% |
8% |
3 |
5% |
7% |
0% |
7% |
4 |
4% |
6% |
0% |
6% |
5 |
3% |
5% |
0% |
5% |
6 |
2% |
4% |
0% |
4% |
7 |
0% |
2% |
0% |
3% |
8 |
0% |
2% |
0% |
2% |
9 and thereafter |
0% |
0% |
0% |
0% |
Name of Benefit |
Purpose |
Standard
or
Optional |
Maximum
Annual Fee |
Current
Charges |
Brief Description of
Restrictions / Limitations |
Dollar Cost
Averaging
Program |
Allows you to
systematically
transfer a set
amount each
month among the
Eligible Funds and
the Fixed Account,
if available |
Standard |
No Charge |
N/A |
•Available only during the accumulation phase •We currently restrict the amount of Contract Value which you may transfer from the Fixed Account •Not available if you selected the GMAB, GMIB Plus II, LWG II, or the Enhanced Death Benefit rider |
Enhanced Dollar
Cost Averaging
(EDCA) Program |
Allows you to
systematically
transfer amounts
from the
Guaranteed
Account in the
general account to
any available
Eligible Funds you
select during a six
or twelve month
duration |
Standard |
No Charge |
N/A |
•Available only during the accumulation phase •Not available for B Plus Class or C Class Contracts •Transfers only available from the Guaranteed Account •Generally only available for new purchase payments or portions thereof •Not available for purchase payments which consist of money exchanged from other contracts we or an affiliate issue |
Asset
Rebalancing |
Allows us to
automatically
rebalance your
Contract Value to
return to your
original percentage
allocations |
Standard |
No Charge |
N/A |
•Available only during the accumulation phase •The Fixed Account is not available for asset rebalancing, unless you selected the GMIB Plus II, the LWG II, or Enhanced Death Benefit rider •Not available if you selected the GMAB rider |
Systematic
Withdrawals |
Allows you to set
up an automatic
payment of up to
10% of your total
purchase
payments each
year |
Standard |
No Charge |
N/A |
•Each payment must be at
least $100 (unless we
consent otherwise) •For all Classes other than C Class, in the first Contract Year, only monthly or quarterly payments are allowed |
Name of Benefit |
Purpose |
Standard
or
Optional |
Maximum
Annual Fee |
Current
Charges |
Brief Description of
Restrictions /
Limitations |
Standard Death
Benefit |
Pays a minimum
death benefit at
least equal to the
greater of the
Contract Value or
total purchase
payments, adjusted
for any
withdrawals |
Standard |
No Charge |
N/A |
•Withdrawals may proportionately reduce the benefit, and such reductions could be significant •For B Plus Class, bonus amounts may not be included in the death benefit |
Annual Step-Up
Death Benefit |
Pays a death
benefit equal to the
greater of your
Contract Value,
your total purchase
payments adjusted
for any
withdrawals, or
your Step-Up Value |
Optional |
0.20% of
average
daily net
assets in the
subaccounts |
0.20% of
average daily
net assets in
the
subaccounts |
•No longer available •Withdrawals may proportionately reduce the benefit, and such reductions could be significant •For B Plus Class, bonus amounts may not be included in the death benefit |
Greater of Annual
Step-Up or 5%
Annual Increase
Death Benefit |
Pays a death
benefit equal to the
greater of your
Contract Value,
your Step-Up
Value, or your
Annual Increase
Amount, adjusted
for any
withdrawals |
Optional |
0.35% of
average
daily net
assets in the
subaccounts |
0.35% of
average daily
net assets in
the
subaccounts |
•No longer available •Withdrawals may proportionately reduce the benefit, and such reductions could be significant •For B Plus Class, bonus amounts may not be included in the death benefit |
Enhanced Death
Benefit Rider |
Pays a death
benefit equal to the
greater of your
Contract Value or a
death benefit base
that provides
protection against
adverse
investment
experience |
Optional |
1.50% of
death
benefit base |
0.75% of death
benefit base
(issue
age 0-69)0.95%
of death benefit
base (issue
age 70-75) |
•No longer available •Benefit subject to Eligible Fund allocation restrictions •Withdrawals may proportionately reduce the benefit, and such reductions could be significant •Additional restrictions on purchase payments may apply •For B Plus Class, bonus
amounts may not be included
in the death benefit |
Earnings
Preservation
Benefit Rider |
Provides an
additional death
benefit to assist
with covering
income taxes
payable upon
death of the Owner
or Joint Owner |
Optional |
0.25% of
average
daily net
assets in the
subaccounts |
0.25% of
average daily
net assets in
the
subaccounts |
•No longer available •Withdrawals may proportionately reduce the benefit, and such reductions could be significant •For B Plus Class, bonus amounts may not be included in the death benefit |
Name of Benefit |
Purpose |
Standard
or
Optional |
Maximum
Annual Fee |
Current
Charges |
Brief Description of
Restrictions /
Limitations |
Guaranteed
Minimum Income
Benefit Plus II
(GMIB Plus II) |
Provides a
specified
guaranteed level of
minimum fixed
annuity payments
during the income
phase regardless
of investment
performance |
Optional |
1.50% of the
Income Base |
1.00% of the
Income Base |
•No longer available •Benefit subject to Eligible Fund allocation restrictions •Certain withdrawals could significantly reduce or even terminate the benefit •Benefit may be exercised after a 10-year waiting period and then only within 30 days following a Contract Anniversary •Benefit must be exercised no
later than the 30-day period
following the Contract
Anniversary prior to the
Owner's 91st birthday •Exercising option to reset the Annual Increase Amount to Contract Value will restart the 10-year waiting period •Additional restrictions on purchase payments may apply •Guaranteed Principal Option
may be exercised on each
Contract Anniversary starting
with the 10th Contract
Anniversary through the
Contract Anniversary prior to
the Owner's 91st birthday •Exercising the Guaranteed Principal Option terminates the benefit •Enhanced payout rates, which
may be available upon
exercise of the benefit,
depend on your age at the
time you took your first
withdrawal and other
circumstances •For B Plus Class, bonus amounts are not included in the benefit |
Name of Benefit |
Purpose |
Standard
or
Optional |
Maximum
Annual Fee |
Current
Charges |
Brief Description of
Restrictions /
Limitations |
Guaranteed
Minimum Income
Benefit Plus I
(GMIB Plus I) |
Provides a
specified
guaranteed level of
minimum fixed
annuity payments
during the income
phase regardless
of investment
performance |
Optional |
1.50% of the
Income Base |
0.80% of the
Income Base |
•No longer available •Benefit subject to Eligible Fund allocation restrictions •Certain withdrawals could significantly reduce or even terminate the benefit •Benefit may be exercised after a 10-year waiting period and then only within 30 days following a Contract Anniversary •Benefit must be exercised no
later than the 30-day period
following the Contract
Anniversary on or following
the Owner's 85th birthday •Exercising option to reset the Annual Increase Amount to Contract Value will restart the 10-year waiting period •Additional restrictions on purchase payments may apply •Guaranteed Principal Option
may be exercised on each
Contract Anniversary starting
with the 10th Contract
Anniversary through the
Contract Anniversary prior to
the Owner's 86th birthday •Exercising the Guaranteed Principal Option terminates the benefit •Enhanced payout rates, which
may be available upon
exercise of the benefit,
depend on your age at the
time you took your first
withdrawal and other
circumstances •For B Plus Class, bonus amounts are not included in the benefit |
Name of Benefit |
Purpose |
Standard
or
Optional |
Maximum
Annual Fee |
Current
Charges |
Brief Description of
Restrictions /
Limitations |
Guaranteed
Minimum Income
Benefit II (GMIB
II) |
Provides a
specified
guaranteed level of
minimum fixed
annuity payments
during the income
phase regardless
of investment
performance |
Optional |
0.50% of the
Income Base |
0.50% of the
Income Base |
•No longer available •Certain withdrawals could significantly reduce or even terminate the benefit •Benefit may be exercised after a 10-year waiting period and then only within 30 days following a Contract Anniversary •Benefit must be exercised no
later than the 30-day period
following the Contract
Anniversary on or following
the Owner's 85th birthday •For B Plus Class, bonus amounts are not included in the benefit |
Guaranteed
Minimum Income
Benefit I (GMIB I) |
Provides a
specified
guaranteed level of
minimum fixed
annuity payments
during the income
phase regardless
of investment
performance |
Optional |
0.50% of the
Income Base |
0.50% of the
Income Base |
•No longer available •Certain withdrawals could significantly reduce or even terminate the benefit •Benefit may be exercised after a 10-year waiting period up, through age 85, within 30 days following a Contract Anniversary •Additional restrictions on
purchase payments may
apply •For B Plus Class, bonus amounts are not included in the benefit |
Name of Benefit |
Purpose |
Standard
or
Optional |
Maximum
Annual Fee |
Current
Charges |
Brief Description of
Restrictions /
Limitations |
Guaranteed
Withdrawal
Benefit I (GWB I) |
Guarantees that at
least the entire
amount of
purchase
payments you
make will be
returned to you
through a series of
withdrawals
regardless of
investment
performance |
Optional |
0.95% of the
Total
Guaranteed
Withdrawal
Amount |
0.50% of the
Total
Guaranteed
Withdrawal
Amount |
•No longer available •Certain withdrawals could significantly reduce or even terminate the benefit •Additional restrictions on purchase payments may apply •Starting with the third
Contract Anniversary, you may
elect the optional reset
feature once every Contract
Anniversary prior to the
86th birthday of the Owner
provided that it has been at
least three Contract
Anniversaries since the last
reset •For B Plus Class, bonus amounts are not included in the benefit |
Enhanced
Guaranteed
Withdrawal
Benefit
(Enhanced GWB) |
Guarantees that at
least the entire
amount of
purchase
payments you
make will be
returned to you
through a series of
withdrawals
regardless of
investment
performance |
Optional |
1.00% of the
Total
Guaranteed
Withdrawal
Amount |
0.55% of the
Total
Guaranteed
Withdrawal
Amount |
•No longer available •Benefit subject to Eligible Fund allocation restrictions •Certain withdrawals could significantly reduce or even terminate the benefit •You may elect to cancel the rider during the 90-day period following your fifth Contract Anniversary •Additional restrictions on
purchase payments may
apply •You may elect the optional reset feature at any Contract Anniversary prior to your 86th birthday •For B Plus Class, bonus
amounts are not included in
the benefit |
Name of Benefit |
Purpose |
Standard
or
Optional |
Maximum
Annual Fee |
Current
Charges |
Brief Description of
Restrictions /
Limitations |
Lifetime
Withdrawal
Guarantee II
Benefit (LWG II) |
Guarantees income
for life, or that at
least the entire
amount of
purchase
payments you
make will be
returned to you
through a series of
withdrawals
regardless of
investment
performance |
Optional |
1.60% of the
Total
Guaranteed
Withdrawal
Amount for
Single Life Version1.80% of the Total Guaranteed Withdrawal Amount for Joint Life Version |
1.25% of the
Total
Guaranteed
Withdrawal
Amount for
Single Life Version1.50% of the Total Guaranteed Withdrawal Amount for Joint Life Version |
•No longer available •Benefit subject to Eligible Fund allocation restrictions •Certain withdrawals could significantly reduce or even terminate the benefit •Guarantees income for life, subject to conditions, provided your first withdrawal is on or after the date you reach age 59 1∕2 •You may elect to cancel the rider on the Contract Anniversary every five Contract Years for the first 15 Contract Years and annually thereafter •Additional restrictions on purchase payments may apply •For B Plus Class, bonus
amounts are not included in
the benefit |
Lifetime
Withdrawal
Guarantee I
Benefit (LWG I) |
Guarantees income
for life, or that at
least the entire
amount of
purchase
payments you
make will be
returned to you
through a series of
withdrawals
regardless of
investment
performance |
Optional |
0.95% of the
Total
Guaranteed
Withdrawal
Amount for
Single Life Version1.40% of the Total Guaranteed Withdrawal Amount for Joint Life Version |
0.50% of the
Total
Guaranteed
Withdrawal
Amount for
Single Life Version0.70% of the Total Guaranteed Withdrawal Amount for Joint Life Version |
•No longer available •Certain withdrawals could significantly reduce or even terminate the benefit •Guarantees income for life, subject to conditions, provided your first withdrawal is on or after the date you reach age 59 1∕2 •You may elect to cancel the rider on the Contract Anniversary every five Contract Years for the first 15 Contract Years and annually thereafter •Additional restrictions on purchase payments may apply •For B Plus Class, bonus
amounts are not included in
the benefit |
Name of Benefit |
Purpose |
Standard
or
Optional |
Maximum
Annual Fee |
Current
Charges |
Brief Description of
Restrictions /
Limitations |
Guaranteed
Minimum
Accumulation
Benefit (GMAB) |
Guarantees that
your Contract Value
will not be less
than a minimum
amount at the end
of a specified
number of years
regardless of
investment
performance |
Optional |
0.75% of the
Guaranteed
Accumulation
Amount |
0.75% of the
Guaranteed
Accumulation
Amount |
•No longer available •Certain withdrawals could significantly reduce or even terminate the benefit •No transfers are permitted while this benefit is in effect •Additional restrictions on purchase payments may apply •You have a one-time right to
cancel this benefit on your 5th
Contract Anniversary •For B Plus Class, bonus amounts are not included in the benefit |
Asset Allocation Subaccount |
Guaranteed Amount (% of Purchase Payments) |
Years to Rider Maturity Date |
Brighthouse Asset Allocation 20 Subaccount |
130% |
10 years |
Brighthouse Asset Allocation 40 Subaccount |
120% |
10 years |
Brighthouse Asset Allocation 60 Subaccount |
110% |
10 years |
If you… |
Your “Applicable Age” Is.. |
Were born on or before June 30, 1949 |
70 1∕2 |
Were born on or after July 1, 1949 (and attain age 72 prior to January 1,
2023) |
72 |
Attain age 72 on or after January 1, 2023 (and attain age 73 on or
before December 31, 2032) |
73* |
Attain age 74 on or after January 1, 2033 |
75* |
*If you were born in 1959, you should consult your tax adviser regarding your
“Applicable Age,” because it is not clear under the
SECURE 2.0 Act Whether your Applicable Age is age 73 or age 75 |
Investment
Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Platform
Charge§ |
Current
Expenses +
Platform
Charge |
Average Annual Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||||
Seeks long-term
growth of capital. |
American Funds
Global Small
Capitalization Fund — Class 2# Capital Research and Management CompanySM
|
0.91% |
0.25% |
1.16% |
16.17% |
8.31% |
5.78% |
Seeks growth of
capital. |
American Funds
Growth Fund — Class 2
Capital Research and
Management
CompanySM |
0.59% |
0.25% |
0.84% |
38.49% |
18.68% |
14.36% |
Seeks long-term
growth of capital and
income. |
American Funds
Growth-Income Fund — Class
2 Capital Research and
Management
CompanySM |
0.53% |
0.25% |
0.78% |
26.14% |
13.36% |
10.91% |
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
|
0.48% |
0.25% |
0.73% |
5.02% |
1.89% |
2.08% |
Seeks capital
appreciation and
current income. |
AB Global Dynamic
Allocation Portfolio — Class B#* Brighthouse Investment Advisers, LLC
Subadviser:
AllianceBernstein L.P. |
0.90% |
None |
0.90% |
11.64% |
3.99% |
3.70% |
Investment
Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Platform
Charge§ |
Current
Expenses +
Platform
Charge |
Average Annual Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||||
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% |
None |
0.96% |
16.49% |
8.48% |
6.67% |
Seeks growth of
capital. |
American Funds®
Growth Allocation Portfolio — Class
C‡ Brighthouse Investment Advisers, LLC |
0.99% |
None |
0.99% |
20.27% |
10.43% |
8.01% |
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 |
0.94% |
None |
0.94% |
12.91% |
6.76% |
5.49% |
Seeks capital
appreciation and
current income. |
BlackRock Global
Tactical Strategies Portfolio — Class
B#* Brighthouse Investment Advisers, LLC
Subadviser:
BlackRock Financial
Management, Inc. |
0.93% |
None |
0.93% |
13.32% |
4.89% |
3.97% |
Seeks growth of
capital. |
Brighthouse Asset
Allocation 100 Portfolio — Class
B‡ Brighthouse Investment Advisers, LLC |
0.99% |
None |
0.99% |
20.81% |
11.55% |
7.92% |
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 |
0.97% |
None |
0.97% |
9.24% |
5.01% |
4.78% |
Investment
Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Platform
Charge§ |
Current
Expenses +
Platform
Charge |
Average Annual Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||||
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. |
0.73% |
None |
0.73% |
5.59% |
1.51% |
1.29% |
Seeks long-term
capital appreciation. |
Brighthouse/
Wellington Large Cap
Research Portfolio — Class B# Brighthouse Investment Advisers, LLC
Subadviser: Wellington Management Company LLP |
0.79% |
None |
0.79% |
25.42% |
15.10% |
11.43% |
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 |
0.90% |
None |
0.90% |
12.73% |
6.15% |
4.38% |
Seeks long-term
capital appreciation. |
Harris Oakmark
International Portfolio — Class
B# Brighthouse Investment Advisers, LLC
Subadviser: Harris Associates L.P. |
0.98% |
None |
0.98% |
18.95% |
7.24% |
3.19% |
Seeks long-term
capital appreciation. |
Harris Oakmark
International Portfolio — Class
E† Brighthouse Investment Advisers, LLC
Subadviser: Harris Associates L.P. |
0.88% |
None |
0.88% |
19.05% |
7.33% |
3.29% |
Investment
Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Platform
Charge§ |
Current
Expenses +
Platform
Charge |
Average Annual Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||||
Seeks total return. |
Invesco Balanced-Risk
Allocation Portfolio — Class B#* Brighthouse Investment Advisers, LLC
Subadviser: Invesco Advisers, Inc. |
0.94% |
None |
0.94% |
6.44% |
5.36% |
4.21% |
Seeks capital
appreciation. |
Invesco Global Equity Portfolio — Class
B# Brighthouse Investment Advisers, LLC
Subadviser: Invesco Advisers, Inc. |
0.83% |
None |
0.83% |
34.58% |
12.20% |
8.41% |
Seeks long-term
growth of capital. |
Invesco Small Cap
Growth Portfolio — Class B# Brighthouse Investment Advisers, LLC
Subadviser: Invesco Advisers, Inc. |
1.06% |
None |
1.06% |
11.90% |
8.64% |
7.39% |
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% |
None |
0.98% |
10.51% |
5.56% |
4.66% |
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% |
None |
1.04% |
22.20% |
9.41% |
7.19% |
Seeks long-term
growth of capital. |
Loomis Sayles Growth Portfolio — Class
B# Brighthouse Investment Advisers, LLC
Subadviser: Loomis, Sayles & Company, L.P. |
0.80% |
None |
0.80% |
51.73% |
16.12% |
10.53% |
Investment
Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Platform
Charge§ |
Current
Expenses +
Platform
Charge |
Average Annual Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||||
Seeks long-term
growth of capital. |
Loomis Sayles Growth Portfolio — Class
E† Brighthouse Investment Advisers, LLC
Subadviser: Loomis, Sayles & Company, L.P. |
0.70% |
None |
0.70% |
51.84% |
16.22% |
10.63% |
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 |
0.66% |
None |
0.66% |
13.82% |
5.03% |
4.44% |
Seeks capital
appreciation. |
MFS® Research
International Portfolio — Class
B# Brighthouse Investment Advisers, LLC
Subadviser:
Massachusetts
Financial Services
Company |
0.90% |
None |
0.90% |
12.82% |
8.54% |
4.17% |
Seeks capital
appreciation. |
Morgan Stanley
Discovery Portfolio — Class B# Brighthouse Investment Advisers, LLC
Subadviser: Morgan Stanley Investment Management Inc. |
0.92% |
None |
0.92% |
40.86% |
10.81% |
8.50% |
Seeks total return. |
PanAgora Global
Diversified Risk Portfolio — Class
B#* Brighthouse Investment Advisers, LLC
Subadviser: PanAgora Asset Management, Inc. |
0.98% |
None |
0.98% |
4.71% |
2.47% |
— |
Investment
Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Platform
Charge§ |
Current
Expenses +
Platform
Charge |
Average Annual Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||||
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 |
0.93% |
None |
0.93% |
3.59% |
3.05% |
2.08% |
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 |
0.80% |
None |
0.80% |
6.05% |
1.01% |
1.60% |
Seeks capital
appreciation and
current income. |
Schroders Global
Multi-Asset Portfolio — Class
B#* Brighthouse Investment Advisers, LLC
Subadviser: Schroder Investment Management North America Inc. |
0.95% |
None |
0.95% |
15.02% |
4.88% |
4.02% |
Seeks growth of
capital and income. |
SSGA Growth and
Income ETF Portfolio — Class
B‡ Brighthouse Investment Advisers, LLC
Subadviser: SSGA Funds Management, Inc. |
0.77% |
None |
0.77% |
13.97% |
7.51% |
5.49% |
Seeks growth of
capital. |
SSGA Growth ETF Portfolio — Class
B‡ Brighthouse Investment Advisers, LLC
Subadviser: SSGA Funds Management, Inc. |
0.80% |
None |
0.80% |
15.75% |
9.20% |
6.43% |
Investment
Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Platform
Charge§ |
Current
Expenses +
Platform
Charge |
Average Annual Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||||
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% |
None |
0.95% |
19.84% |
11.63% |
10.45% |
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% |
None |
0.85% |
9.94% |
14.38% |
8.30% |
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 |
0.72% |
None |
0.72% |
4.39% |
0.21% |
1.26% |
Seeks long-term
growth of capital. |
Baillie Gifford
International Stock Portfolio — Class
B# Brighthouse Investment Advisers, LLC
Subadviser: Baillie Gifford Overseas Limited |
1.00% |
None |
1.00% |
18.36% |
6.88% |
4.46% |
Seeks long-term
growth of capital. |
Baillie Gifford
International Stock Portfolio — Class
E† Brighthouse Investment Advisers, LLC
Subadviser: Baillie Gifford Overseas Limited |
0.90% |
None |
0.90% |
18.46% |
6.98% |
4.56% |
Investment
Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Platform
Charge§ |
Current
Expenses +
Platform
Charge |
Average Annual Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||||
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% |
None |
0.64% |
5.59% |
1.28% |
1.95% |
Seeks long-term
growth of capital. |
BlackRock Capital
Appreciation Portfolio — Class
B# Brighthouse Investment Advisers, LLC
Subadviser:
BlackRock Advisors,
LLC |
0.82% |
None |
0.82% |
49.23% |
15.86% |
12.60% |
Seeks long-term
growth of capital. |
BlackRock Capital
Appreciation Portfolio — Class
E† Brighthouse Investment Advisers, LLC
Subadviser:
BlackRock Advisors,
LLC |
0.72% |
None |
0.72% |
49.33% |
15.98% |
12.71% |
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 |
0.61% |
None |
0.61% |
4.80% |
1.50% |
0.98% |
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 |
0.89% |
None |
0.89% |
7.83% |
3.62% |
3.05% |
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 |
0.89% |
None |
0.89% |
10.52% |
5.60% |
4.34% |
Investment
Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Platform
Charge§ |
Current
Expenses +
Platform
Charge |
Average Annual Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||||
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% |
None |
0.91% |
13.59% |
7.72% |
5.67% |
Seeks growth of
capital. |
Brighthouse Asset
Allocation 80 Portfolio — Class
B‡ Brighthouse Investment Advisers, LLC |
0.94% |
None |
0.94% |
17.30% |
9.75% |
6.91% |
Seeks long-term
capital growth. |
Brighthouse/Artisan
Mid Cap Value Portfolio — Class
B# Brighthouse Investment Advisers, LLC
Subadviser: Artisan Partners Limited Partnership |
1.02% |
None |
1.02% |
18.24% |
11.28% |
6.48% |
Seeks long-term
capital growth. |
Brighthouse/Artisan
Mid Cap Value Portfolio — Class
E† Brighthouse Investment Advisers, LLC
Subadviser: Artisan Partners Limited Partnership |
0.92% |
None |
0.92% |
18.35% |
11.39% |
6.59% |
Seeks long-term
capital appreciation
with some current
income. |
Brighthouse/
Wellington Balanced Portfolio — Class
B Brighthouse
Investment Advisers, LLC
Subadviser: Wellington Management Company LLP |
0.78% |
None |
0.78% |
17.88% |
9.82% |
7.81% |
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 |
0.86% |
None |
0.86% |
7.38% |
12.84% |
10.08% |
Investment
Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Platform
Charge§ |
Current
Expenses +
Platform
Charge |
Average Annual Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||||
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 |
0.76% |
None |
0.76% |
7.49% |
12.95% |
10.19% |
Seeks maximum
capital appreciation. |
Frontier Mid Cap
Growth Portfolio — Class B# Brighthouse Investment Advisers, LLC
Subadviser: Frontier Capital Management Company, LLC |
0.96% |
None |
0.96% |
17.73% |
10.99% |
9.01% |
Seeks long-term
growth of capital. |
Jennison Growth Portfolio — Class
B# Brighthouse Investment Advisers, LLC
Subadviser: Jennison Associates LLC |
0.80% |
None |
0.80% |
52.86% |
17.69% |
14.03% |
Seeks long-term
growth of capital. |
Jennison Growth Portfolio — Class
E† Brighthouse Investment Advisers, LLC
Subadviser: Jennison Associates LLC |
0.70% |
None |
0.70% |
53.11% |
17.81% |
14.15% |
Seeks long-term
capital growth from
investments in
common stocks or
other equity
securities. |
Loomis Sayles Small
Cap Core Portfolio — Class B# Brighthouse Investment Advisers, LLC
Subadviser: Loomis, Sayles & Company, L.P. |
1.14% |
None |
1.14% |
17.18% |
11.07% |
7.63% |
Investment
Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Platform
Charge§ |
Current
Expenses +
Platform
Charge |
Average Annual Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||||
Seeks long-term
capital growth from
investments in
common stocks or
other equity
securities. |
Loomis Sayles Small
Cap Core Portfolio — Class E† Brighthouse Investment Advisers, LLC
Subadviser: Loomis, Sayles & Company, L.P. |
1.04% |
None |
1.04% |
17.29% |
11.18% |
7.74% |
Seeks long-term
capital growth. |
Loomis Sayles Small
Cap Growth Portfolio — Class
B# Brighthouse Investment Advisers, LLC
Subadviser: Loomis, Sayles & Company, L.P. |
1.12% |
None |
1.12% |
11.54% |
9.80% |
8.21% |
Seeks to track the
performance of the
Bloomberg
U.S. Aggregate Bond
Index. |
MetLife Aggregate
Bond Index Portfolio — Class
B Brighthouse
Investment Advisers, LLC
Subadviser: MetLife Investment Management, LLC |
0.53% |
None |
0.53% |
5.03% |
0.63% |
1.33% |
Seeks to track the
performance of the
Standard & Poor’s
MidCap 400®
Composite Stock Price
Index. |
MetLife Mid Cap Stock
Index Portfolio — Class B
Brighthouse
Investment Advisers, LLC
Subadviser: MetLife Investment Management, LLC |
0.56% |
None |
0.56% |
15.76% |
12.05% |
8.73% |
Seeks to track the
performance of the
MSCI EAFE® Index. |
MetLife MSCI EAFE®
Index Portfolio — Class B
Brighthouse
Investment Advisers, LLC
Subadviser: MetLife Investment Management, LLC |
0.64% |
None |
0.64% |
17.64% |
7.72% |
3.80% |
Investment
Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Platform
Charge§ |
Current
Expenses +
Platform
Charge |
Average Annual Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||||
Seeks to track the
performance of the
Russell 2000® Index. |
MetLife Russell
2000® Index Portfolio — Class
B Brighthouse
Investment Advisers, LLC
Subadviser: MetLife Investment Management, LLC |
0.57% |
None |
0.57% |
16.51% |
9.63% |
6.89% |
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 |
0.51% |
None |
0.51% |
25.63% |
15.10% |
11.47% |
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% |
None |
0.87% |
10.13% |
8.26% |
6.33% |
Seeks capital
appreciation. |
MFS® Value Portfolio — Class
B# Brighthouse Investment Advisers, LLC
Subadviser:
Massachusetts
Financial Services
Company |
0.83% |
None |
0.83% |
7.85% |
11.27% |
8.51% |
Seeks capital
appreciation. |
MFS® Value Portfolio — Class
E† Brighthouse Investment Advisers, LLC
Subadviser:
Massachusetts
Financial Services
Company |
0.73% |
None |
0.73% |
7.97% |
11.39% |
8.62% |
Investment
Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Platform
Charge§ |
Current
Expenses +
Platform
Charge |
Average Annual Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||||
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 |
1.05% |
None |
1.05% |
15.20% |
12.13% |
8.48% |
Seeks high total
return, consisting
principally of capital
appreciation. |
Neuberger Berman
Genesis Portfolio — Class E† Brighthouse Investment Advisers, LLC
Subadviser: Neuberger Berman Investment Advisers LLC |
0.95% |
None |
0.95% |
15.35% |
12.24% |
8.58% |
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. |
0.82% |
None |
0.82% |
46.53% |
13.23% |
11.60% |
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% |
None |
0.76% |
21.28% |
11.56% |
9.17% |
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 |
0.81% |
None |
0.81% |
9.22% |
2.54% |
2.76% |
Investment
Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Platform
Charge§ |
Current
Expenses +
Platform
Charge |
Average Annual Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||||
Seeks to maximize
total return consistent
with preservation of
capital. |
Western Asset
Management
Strategic Bond
Opportunities Portfolio — Class
E† Brighthouse Investment Advisers, LLC
Subadviser: Western Asset Management Company LLC |
0.71% |
None |
0.71% |
9.30% |
2.65% |
2.87% |
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% |
None |
0.75% |
4.59% |
0.70% |
0.98% |
Seeks to maximize
total return consistent
with preservation of
capital and
maintenance of
liquidity. |
Western Asset
Management
U.S. Government Portfolio — Class
E† Brighthouse Investment Advisers, LLC
Subadviser: Western Asset Management Company LLC |
0.65% |
None |
0.65% |
4.70% |
0.81% |
1.07% |
AB Global Dynamic Allocation Portfolio |
American Funds® Balanced Allocation Portfolio |
American Funds® Growth Allocation Portfolio |
American Funds® Moderate Allocation Portfolio |
BlackRock Global Tactical Strategies Portfolio |
BlackRock Ultra-Short Term Bond Portfolio |
Brighthouse Asset Allocation 20 Portfolio |
Brighthouse Asset Allocation 40 Portfolio |
Brighthouse Asset Allocation 60 Portfolio |
Brighthouse Asset Allocation 80 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 |
SSGA Growth and Income ETF Portfolio |
SSGA Growth ETF Portfolio |
Western Asset Management Government Income Portfolio |
AB Global Dynamic Allocation Portfolio |
American Funds® Balanced Allocation Portfolio |
American Funds® Growth Allocation Portfolio1
|
American Funds® Moderate Allocation Portfolio |
BlackRock Global Tactical Strategies Portfolio |
BlackRock Ultra-Short Term Bond Portfolio |
Brighthouse Asset Allocation 20 Portfolio |
Brighthouse Asset Allocation 40 Portfolio |
Brighthouse Asset Allocation 60 Portfolio |
Brighthouse Asset Allocation 80
Portfolio1 |
Brighthouse Balanced Plus Portfolio |
Invesco Balanced-Risk Allocation Portfolio |
JPMorgan Global Active Allocation Portfolio |
MetLife Multi-Index Targeted Risk Portfolio |
PanAgora Global Diversified Risk Portfolio |
Schroders Global Multi-Asset Portfolio |
SSGA Growth and Income ETF Portfolio |
SSGA Growth ETF Portfolio1
|
Platform 1 |
Platform 2 |
A minimum of 30% of
Purchase Payments or
Account |
A maximum of 70% of
Purchase Payments or
Account |
American Funds The Bond Fund of America |
AB Global Dynamic Allocation Portfolio |
BlackRock Bond Income Portfolio |
American Funds Growth Fund |
BlackRock Ultra-Short Term Bond Portfolio |
American Funds Growth-Income Fund |
Brighthouse/Franklin Low Duration Total Return Portfolio |
Baillie Gifford International Stock Portfolio |
MetLife Aggregate Bond Index Portfolio |
BlackRock Capital Appreciation Portfolio |
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 Balanced Plus Portfolio |
Western Asset Management U.S. Government Portfolio |
Brighthouse/Wellington Balanced Portfolio |
|
Brighthouse/Wellington Core Equity Opportunities Portfolio
|
|
Brighthouse/Wellington Large Cap Research Portfolio |
|
Harris Oakmark International Portfolio |
|
Invesco Balanced-Risk Allocation Portfolio |
|
Invesco Global Equity Portfolio |
|
Jennison Growth Portfolio |
|
Loomis Sayles Growth Portfolio |
|
MetLife MSCI EAFE® Index Portfolio |
|
MetLife Multi-Index Targeted Risk Portfolio |
|
MetLife Stock Index Portfolio |
|
MFS® Research International
Portfolio |
|
MFS® Total Return Portfolio
|
|
MFS® Value Portfolio |
|
PanAgora Global Diversified Risk Portfolio |
|
Schroders Global Multi-Asset Portfolio |
|
T. Rowe Price Large Cap Growth Portfolio |
Platform 3 |
Platform 4 |
A maximum of 15% of
Purchase Payments or
Account |
A maximum of 15% of
Purchase Payments or
Account |
Brighthouse/Artisan Mid Cap Value Portfolio |
American Funds Global Small Capitalization Fund |
Frontier Mid Cap Growth Portfolio |
CBRE Global Real Estate Portfolio |
MetLife Mid Cap Stock Index Portfolio |
Invesco Small Cap Growth Portfolio |
Morgan Stanley Discovery Portfolio |
Loomis Sayles Small Cap Core Portfolio |
T. Rowe Price Mid Cap Growth Portfolio |
Loomis Sayles Small Cap Growth Portfolio |
Victory Sycamore Mid Cap Value Portfolio |
MetLife Russell 2000® Index Portfolio |
|
Neuberger Berman Genesis Portfolio |
|
T. Rowe Price Small Cap Growth Portfolio |
Brighthouse Asset Allocation 40 Portfolio |
Brighthouse Asset Allocation 60 Portfolio |
Toll-free telephone service: |
— |
Fund transfers , address changes and changes of future purchase payment
allocations can be made by calling 1-888-243-1932. |
|
|
|
Written Communications: |
— |
Communications and inquiries regarding address changes, premium payments, billing, fund transfers, withdrawals, maturities and any other
processing matters relating to your Contract should be directed
to: |
|
|
New England Life Insurance Company c/o Annuity Administrative Office P.O. Box 4301
Clinton, IA 52733-4301 Fax: (877) 246-8424 |
|
— |
Communications relating to Death Claims, or Contracts receiving Annuity
Payments, see “THE CONTRACTS – REQUESTS AND ELECTIONS” in
this prospectus. |
Internet Communications: |
— |
Fund transfers and future allocations can be made at www.brighthousefinancial.com |
|
|
Date |
Amount |
A |
Initial Purchase Payment |
10/1/2011 |
$100,000 |
B |
Contract Value |
10/1/2012
(First Contract Anniversary) |
$90,000 |
C1 |
Contract Value (Highest Anniversary Value) |
As of 10/1/2012 |
$100,000 (= greater of A and B) |
C2 |
6% Annual Increase Amount |
As of 10/1/2012 |
$106,000 (= A x 1.06) |
C3 |
Death Benefit |
10/1/2012 |
$106,000 (= greater of C1 and C2) |
D |
Withdrawal (Dollar-For-Dollar within 6%
limit) |
10/2/2012 |
$6,000 |
E |
Percentage Reduction in Contract Value |
10/2/2012 |
6.67% (= D/B) |
F |
Contract Value after Withdrawal |
10/2/2012 |
$84,000 (= B – D) |
G1 |
Highest Anniversary Value reduced for
Withdrawal |
As of 10/2/2012 |
$93,333 (= C1 – (C1 x E)) |
G2 |
6% Annual Increase Amount reduced for
Withdrawal |
As of 10/2/2012 |
$100,017 (= C2 – D) Note: C2 includes
additional day of interest at 6% |
G3 |
Death Benefit |
10/2/2012 |
$100,017 (= greater of G1 and G2) |
H |
Contract Value |
10/1/2013
(Second Contract Anniversary) |
$110,000 |
I1 |
Contract Value (Highest Anniversary Value) |
10/1/2013 |
$110,000 (= greater of G1 and H) |
I2 |
6% Annual Increase Amount |
10/1/2013 |
$106,360 (= C2 x 1.06 – D) |
I3 |
Death Benefit |
10/1/2013 |
$110,000 (= greater of I1 and I2) |
J |
Withdrawal (Proportional above 6% limit) |
10/2/2013 |
$11,000 |
K |
Percentage Reduction in Contract Value |
10/2/2013 |
10% (= J/H) |
L |
Contract Value after Withdrawal |
10/2/2013 |
$99,000 (= H – J) |
M1 |
Highest Anniversary Value reduced for
Withdrawal |
As of 10/2/2013 |
$99,000 (= 11 – (11 x K)) |
M2 |
6% Annual Increase Amount reduced for
Withdrawal |
As of 10/2/2013 |
$95,739 (= 12 – (12 x K)) Note: 12
includes additional day of interest at 6% |
M3 |
Death Benefit |
10/2/2013 |
$99,000 (= greater of M1 and M2) |
Fiscal year |
Aggregate Amount of Commissions Paid to Distributor* |
Aggregate Amount of Commissions Retained by Distributor After Payments to its Registered Persons and Selling Firms |
2023 |
$2,738,824 |
$0 |
2022 |
$3,339,571 |
$0 |
2021 |
$4,293,356 |
$0 |
Name and Principal Business Office |
Positions and Offices with Depositor |
Tara Figard
11225 North Community House Road
Charlotte, NC 28277 |
Chairman of the Board, President, Chief Executive Officer and a Director |
Lindsey M. Cox
11225 North Community House Road
Charlotte, NC 28277 |
Director |
Rachel M. D’Anna 334 Madison Avenue, Floor 3 Morristown, NJ 07960 |
Director and Vice President |
Meghan S. Doscher
11225 North Community House Road
Charlotte, NC 28277 |
Director and Vice President |
Gianna H. Figaro-Sterling 11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Chief Financial Officer |
Donald A. Leintz
11225 North Community House Road
Charlotte, NC 28277 |
Director and Vice President |
James Painter
11225 North Community House Road
Charlotte, NC 28277 |
Director and Vice President |
Kristine Toscano
11225 North Community House Road
Charlotte, NC 28277 |
Director and Vice President |
Michele Abate
11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Assistant Secretary |
Devon Arendosh
11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Chief Information Security Officer |
Patrisha Cox
11225 North Community House Road
Charlotte, NC 28277 |
Vice President |
David Dooley
11225 North Community House Road
Charlotte, NC 28277 |
Vice President |
Micah Dowling
11225 North Community House Road
Charlotte, NC 28277 |
Vice President |
Kevin Finneran
11225 North Community House Road
Charlotte, NC 28277 |
Vice President |
Jason Frain
11225 North Community House Road
Charlotte, NC 28277 |
Vice President |
Tyler Gates
11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Appointed Actuary |
James Grady 334
Madison Avenue, Floor 3 Morristown, NJ 07960 |
Vice President and Chief Investment Officer |
Christopher Hartsfield 11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Assistant Secretary |
James Hoffman
11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Illustration Actuary |
Jeffrey Hughes
11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Chief Technology Officer |
Jacob Jenkelowitz
285 Madison Avenue, Suite 1400
New York, NY 10017 |
Vice President and Secretary |
Colleen Johnson
11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Assistant Secretary |
John Lima 334
Madison Avenue, Floor 3 Morristown, NJ 07960 |
Chief Derivatives Officer |
Allie Lin 11225
North Community House Road Charlotte, NC 28277 |
Vice President |
Philip Melville
334 Madison Avenue, Floor 3
Morristown, NJ 07960 |
Vice President |
Tiffanie Moore
11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Assistant Secretary |
Janet Morgan
11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Treasurer |
Rosemary Morgan
11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Chief Compliance Officer |
Alan Otis 11225
North Community House Road Charlotte, NC 28277 |
Vice President |
Melissa Pavlovich
11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Tax Director |
Phillip Pfotenhauer 11225 North Community House Road Charlotte, NC 28277 |
Vice President |
David A. Rosenbaum
11225 North Community House Road
Charlotte, NC 28277 |
Vice President |
Matthew Sheperd
334 Madison Avenue, Floor 3
Morristown, NJ 07960 |
Vice President – Dividend Actuary |
Kristi Slavin
11225 North Community House Road
Charlotte, NC 28277 |
Vice President |
Gregor Speakman
11225 North Community House Road
Charlotte, NC 28277 |
Vice President |
David Ward 11225
North Community House Road Charlotte, NC 28277 |
Vice President |
Julienne Warr
11225 North Community House Road
Charlotte, NC 28277 |
Vice President |
A. |
Brighthouse Holdings, LLC (DE) | |||
|
1. |
New England Life Insurance Company (MA) | ||
|
2. |
Brighthouse Life Insurance Company (DE) | ||
|
|
a. |
|
Brighthouse Reinsurance Company of Delaware (DE) |
|
|
b. |
|
Brighthouse Life Insurance Company of NY (NY) |
|
|
|
(i.) |
BLICNY Property Ventures, LLC (DE) |
|
|
c. |
|
Brighthouse Connecticut Properties Ventures, LLC (DE) |
|
|
d. |
|
Brighthouse Renewables Holdings, LLC (DE) |
|
|
|
(i.) |
Greater Sandhill I, LLC (DE) |
|
|
e. |
|
Daniel/Brighthouse Midtown Atlanta Master Limited Liability Company (DE) |
|
|
|
(i.) |
1075 Peachtree LLC (DE) |
|
|
f. |
|
Brighthouse Assignment Company (CT) |
|
|
g. |
|
ML 1065 Hotel, LLC (DE) |
|
|
h. |
|
TIC European Real Estate LP, LLC (DE) |
|
|
i. |
|
Euro TL Investments LLC (DE) |
|
|
j. |
|
TLA Holdings LLC (DE) |
|
|
|
(i.) |
The Prospect Company, LLC (DE) |
|
|
k. |
|
Euro TI Investments LLC (DE) |
|
|
l. |
|
TLA Holdings II LLC (DE) |
|
|
m. |
|
BLIC Property Ventures, LLC (DE) |
|
3. |
Brighthouse Securities, LLC (DE) | ||
|
4. |
Brighthouse Services, LLC (DE) | ||
|
5. |
Brighthouse Investment Advisers, LLC (DE) |
Name and Principal Business Office |
Positions and Offices with Underwriter |
Myles Lambert
11225 North Community House Road
Charlotte, NC 28277 |
Manager, President and Chief Executive Officer |
Philip Beaulieu
11225 North Community House Road
Charlotte, NC 28277 |
Manager and Vice President |
Amy Cusson
11225 North Community House Road
Charlotte, NC 28277 |
Manager |
Michael Davis
11225 North Community House Road
Charlotte, NC 28277 |
Manager and Vice President |
Meghan Doscher
11225 North Community House Road
Charlotte, NC 28277 |
Manager |
Kevin Macilvane, Jr. 11225 North Community House Road
Charlotte, NC 28277 |
Manager |
Gerard Nigro
11225 North Community House Road
Charlotte, NC 28277 |
Manager and Vice President |
Christopher Hartsfield 11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Assistant Secretary |
Jacob Jenkelowitz
285 Madison Avenue, Suite 1400
New York, NY 10017 |
Vice President and Secretary |
Colleen Johnson
11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Assistant Secretary |
Donald Leintz
11225 North Community House Road
Charlotte, NC 28277 |
Vice President |
John Lima
334 Madison Avenue, Floor 3
Morristown, NJ 07960 |
Vice President and Chief Derivatives Officer |
John Martinez
11225 North Community House Road
Charlotte, NC 28277 |
Principal Financial Officer |
Tiffanie Moore
11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Assistant Secretary |
Janet Morgan
11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Treasurer |
Melissa Pavlovich
11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Tax Director |
Kristin Prohonic
11225 North Community House Road
Charlotte, NC 28277 |
Vice President and Chief Compliance Officer |
(1) Name of Principal
Underwriter |
(2) Net Underwriting Discounts
and Commissions |
(3) Compensation on
Redemption |
(4) Brokerage Commissions
|
(5) Compensation |
Brighthouse Securities, LLC |
$2,738,824 |
$0 |
$0 |
$0 |
|
NEW ENGLAND VARIABLE ANNUITY SEPARATE ACCOUNT | |
|
(Registrant) | |
|
By: |
NEW ENGLAND LIFE INSURANCE COMPANY |
|
(Depositor) |
|
|
By: |
/s/ Kevin
Finneran |
|
|
Kevin Finneran Vice President |
|
NEW ENGLAND LIFE INSURANCE COMPANY | |
|
(Depositor) |
|
|
By: |
/s/ Kevin
Finneran |
|
|
Kevin Finneran Vice President |
/s/ Tara Figard* Tara Figard |
Chairman of the Board, President, Chief Executive Officer and a Director |
/s/ Lindsey M. Cox* Lindsey M. Cox |
Director |
/s/ Rachel M. D’Anna* Rachel M. D’Anna |
Director |
/s/ Meghan Doscher* Meghan Doscher |
Director |
/s/ Gianna H. Figaro-Sterling* Gianna H. Figaro-Sterling |
Vice President and Chief Financial Officer |
/s/ Donald A. Leintz* Donald A. Leintz |
Director |
/s/ James Painter* James Painter |
Director |
/s/ Kristine Toscano* Kristine Toscano |
Director and Vice President (principal accounting officer) |
|
*By: |
/s/ Michele H.
Abate |
|
|
Michele H. Abate, Attorney-In-Fact
April 22, 2024 |