Death Claims |
P.O. Box 4330
Clinton, IA 52733-4330
Fax: (877) 245-8163 |
Annuity Payments/Income |
|
• Requests to receive regular income payments (referred to as Annuity Payments) 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 |
|
Fees and Expenses |
Location in
Prospectus | |||
Charges for Early
Withdrawals |
None |
Fee Table and
Examples
Expenses – Withdrawal Charge | |||
Transaction
Charges |
You may be charged for the following transactions: transfers of cash
value between investment options, which include 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 Table and
Examples
Expenses –
Transfer Fee | |||
Ongoing Fees and
Expenses (annual charges) |
The table below describes the fees and expenses that you may pay
each year,
depending on the options you choose. Please refer to your Contract
specifications page for information about the specific
fees you will pay each year based on the options you have
elected. |
Fee Table and
Examples
Expenses –
Product
Charges
Appendix A
Available
Under the
Contract
(located in this
Disclosure
Notice) | |||
Annual Fee |
Minimum |
Maximum | |||
Base Contract1 |
1.33% |
1.33% | |||
Investment options
(Portfolio Company fees and
expenses)2 |
0.52% |
1.31% | |||
Optional benefits available for
an additional charge (for a
single optional benefit, if
elected) |
0.20%3 |
0.35%4 | |||
1 As a percentage of average Account Value in the
Separate Account. The charge shown also
includes the Account Fee.
2 As a percentage of fund assets before temporary expense reimbursements and/or fee waivers.
3 As a percentage of 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 average Account Value in the
Separate Account, 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. | |||||
Lowest Annual Cost
$2,021 |
Highest Annual Cost
$3,615 | ||||
Assumes: |
Assumes: | ||||
•Investment of $100,000 •5% annual appreciation •Least expensive Portfolio Company fees and expenses •No optional benefits •No additional Purchase Payments,
transfers, or withdrawals |
•Investment of $100,000 •5% annual appreciation •Most expensive combination of optional benefits and Portfolio Company fees and expenses |
|
Risks |
Location in
Prospectus | |||
Risk of Loss |
You can lose money by investing in this Contract including loss of
principal. |
The Annuity
Contract
Investment
Options | |||
Not a Short-Term
Investment |
This Contract is not a short-term investment and is not appropriate for
an investor who needs ready access to cash.
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 | |||
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 has its own unique risks.
•You should review the prospectuses for the available funds before making
an investment decision. |
Investment
Options | |||
Insurance
Company Risks |
An investment in the Contract is subject to the risks related to us.
Any obligations and guarantees and benefits of the
Contract that exceed the assets of the
Separate Account are subject to our claims-paying ability.
If we experience financial distress, we may not be able
to meet our obligations to you. More information about
BLIC, including our financial strength ratings, is
available by contacting us at (888) 243-1968. |
The Annuity
Contract | |||
|
Restrictions |
| |||
Investments |
•Currently, we allow unlimited transfers 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. •We reserve the right to limit transfers in circumstances of
frequent or large transfers. •We reserve the right to remove or substitute the Portfolio Companies
available as investment options under the Contract. |
Investment
Options | |||
Optional Benefits |
•Contract owners enrolled in the Asset Allocation Program will have their
allocations automatically rebalanced/transferred upon any change or
update to the elected asset allocation model. For
contract owners participating in the
Asset Allocation Program, our affiliate
Brighthouse
Advisers, an investment adviser registered under the
Investment Advisers Act of 1940, serves as your
investment adviser, but solely for the purpose of
developing and updating the models. •We may stop offering an optional benefit at any time for new sales. |
Investment Options - Marquis Asset Allocation Program Appendix B:
Available
Under the
Benefits
Offered Under
the Contract
(located in this
Disclosure
Notice) |
|
Taxes |
| |||
Tax Implications |
•Consult with a tax professional to determine the tax implications of an
investment in and payments received under this Contract.
•If you purchase the Contract through a tax-qualified plan or individual
retirement account, you do not get any additional tax
benefit. •You will generally not be taxed on increases in the value of
the Contract until they are withdrawn. Withdrawals will
be subject to ordinary income tax, and may be subject to
tax penalties if you take a withdrawal before age
59 1∕2. |
Federal
Income Tax
Status | |||
|
Conflicts of Interest |
| |||
Investment
Professional
Compensation |
Your investment professional may receive compensation for selling this
Contract to you, in the form of commissions, additional
cash benefits (e.g., bonuses), and non-cash compensation.
This conflict of interest may influence your investment
professional to recommend this Contract over another
investment for which the investment professional is not compensated or
compensated less. |
Other
Information –
Distributor | |||
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 |
Investment Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||
Seeks long-term growth of capital. |
American Funds Global Growth
Fund — Class 2# Capital Research and Management CompanySM |
0.66% |
22.60% |
13.65% |
9.58% |
Seeks growth of capital. |
American Funds Growth
Fund — Class 2
Capital Research and Management
CompanySM |
0.59% |
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% |
26.14% |
13.36% |
10.91% |
Seeks to maximize total return,
consistent with income generation
and prudent investment
management. |
BlackRock High Yield
Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: BlackRock Financial
Management, Inc. |
0.65% |
13.41% |
5.92% |
4.79% |
Seeks long-term capital appreciation. |
Brighthouse Small Cap Value
Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Delaware Investments
Fund Advisers, a series of Macquarie
Investment Management Business
Trust, and Allspring Global
Investments, LLC |
1.12% |
13.95% |
10.81% |
7.17% |
Seeks capital appreciation. |
Brighthouse/abrdn Emerging
Markets Equity
Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: abrdn Investments
Limited |
1.21% |
6.47% |
2.88% |
1.30% |
Investment Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||
Seeks a high level of current income. |
Brighthouse/Eaton Vance Floating
Rate Portfolio — Class B
Brighthouse Investment Advisers,
LLC
Subadviser: Eaton Vance Management |
0.95% |
10.79% |
4.27% |
3.41% |
Seeks long-term capital appreciation. |
Brighthouse/Wellington Large Cap
Research Portfolio — Class E# Brighthouse Investment Advisers, LLC Subadviser: Wellington
Management Company LLP
|
0.69% |
25.51% |
15.21% |
11.54% |
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% |
12.73% |
6.15% |
4.38% |
Seeks long-term capital appreciation. |
Harris Oakmark International
Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Harris Associates
L.P. |
0.73% |
19.26% |
7.50% |
3.45% |
Seeks capital growth and income. |
Invesco Comstock
Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Invesco Advisers,
Inc. |
0.81% |
12.21% |
13.33% |
8.86% |
Seeks capital appreciation. |
Invesco Global Equity
Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Invesco Advisers,
Inc. |
0.83% |
34.58% |
12.20% |
8.41% |
Seeks long-term growth of capital. |
Invesco Small Cap Growth
Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Invesco Advisers,
Inc. |
0.81% |
12.33% |
8.90% |
7.66% |
Seeks long-term capital growth. |
JPMorgan Small Cap Value
Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: J.P. Morgan
Investment Management Inc.
|
0.77% |
13.21% |
10.68% |
6.55% |
Seeks long-term growth of capital. |
Loomis Sayles Growth
Portfolio — Class A†† Brighthouse Investment Advisers, LLC Subadviser: Loomis, Sayles &
Company, L.P. |
0.55% |
52.06% |
16.39% |
10.80% |
Investment Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
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 B# Brighthouse Investment Advisers, LLC Subadviser: Loomis, Sayles &
Company, L.P. |
0.80% |
51.73% |
16.12% |
10.53% |
Seeks capital appreciation. |
MFS® Research International
Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Massachusetts
Financial Services Company
|
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% |
40.86% |
10.81% |
8.50% |
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% |
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% |
6.05% |
1.01% |
1.60% |
Seeks long-term capital appreciation
by investing in common stocks
believed to be undervalued. Income
is a secondary objective. |
T. Rowe Price Large Cap Value
Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: T. Rowe Price
Associates, Inc. |
0.78% |
9.64% |
11.26% |
8.66% |
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% |
9.94% |
14.38% |
8.30% |
Seeks a competitive total return
primarily from investing in fixed-
income securities. |
BlackRock Bond Income
Portfolio — Class E# Brighthouse Investment Advisers, LLC Subadviser: BlackRock Advisors,
LLC |
0.54% |
5.68% |
1.38% |
2.05% |
Investment Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||
Seeks long-term growth of capital. |
BlackRock Capital Appreciation
Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: BlackRock Advisors,
LLC |
0.57% |
49.61% |
16.15% |
12.88% |
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 |
0.51% |
4.90% |
1.60% |
1.06% |
Seeks long-term capital appreciation. |
Brighthouse/Dimensional
International Small Company
Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Dimensional Fund
Advisors LP |
1.05% |
13.52% |
7.32% |
4.42% |
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
|
0.61% |
7.66% |
13.12% |
10.36% |
Seeks long-term growth of capital. |
Jennison Growth
Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: Jennison Associates
LLC |
0.80% |
52.86% |
17.69% |
14.03% |
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% |
17.18% |
11.07% |
7.63% |
Seeks a favorable total return
through investment in a diversified
portfolio. |
MFS® Total Return
Portfolio — Class F# Brighthouse Investment Advisers, LLC Subadviser: Massachusetts
Financial Services Company
|
0.82% |
10.19% |
8.31% |
6.38% |
Seeks capital appreciation. |
MFS® Value Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Massachusetts
Financial Services Company
|
0.58% |
8.15% |
11.55% |
8.78% |
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% |
15.20% |
12.13% |
8.48% |
Investment Objectives |
Portfolio Company and
Adviser/Sub-Adviser |
Current
Expenses |
Average Annual
Total Returns
(as of 12/31/2023) | ||
1
Year |
5
Year |
10
Year | |||
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% |
46.53% |
13.23% |
11.60% |
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% |
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 A# Brighthouse Investment Advisers, LLC Subadviser: Western Asset
Management Company LLC
|
0.50% |
4.87% |
0.95% |
1.23% |
Seeks long-term capital growth. |
Templeton Foreign VIP
Fund — Class 2# Templeton Investment Counsel, LLC |
1.07% |
20.76% |
5.27% |
1.28% |
Seeks long-term capital appreciation. |
ClearBridge Variable Appreciation
Portfolio — Class I
Legg Mason Partners Fund Advisor,
LLC
Subadviser: ClearBridge Investments, LLC |
0.72% |
19.71% |
14.07% |
10.88% |
Seeks long-term growth of capital as
its primary objective. Current
income is a secondary objective. |
ClearBridge Variable Large Cap
Value Portfolio — Class I
Legg Mason Partners Fund Advisor,
LLC
Subadviser: ClearBridge Investments, LLC |
0.72% |
15.09% |
13.02% |
8.99% |
Seeks long-term growth of capital. |
ClearBridge Variable Small Cap
Growth Portfolio — Class I
Legg Mason Partners Fund Advisor,
LLC
Subadviser: ClearBridge Investments, LLC |
0.80% |
8.40% |
9.56% |
7.89% |
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 Pte. Ltd. |
0.83% |
10.26% |
3.42% |
2.89% |