Death Claims |
P.O. Box 4330
Clinton, IA 52733-4330 Telephone: (888) 243-1932 Fax: (877) 245-8163 |
Annuity Payments/Income |
|
Requests to receive regular income payments (referred to as Annuity 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 |
If: 1. You purchased a Guaranteed Minimum Accumulation
Benefit (GMAB) rider with your Contract; 2.Your Contract currently has or had an active loan initiated any time on or before April 10, 2011; or 3. You, as the designated beneficiary on the Contract, elected on or after April 10, 2011, to continue the Contract in your own name after the death of the original owner or annuitant. |
For Payments P.O. Box 70247
Philadelphia, PA 19176-0247
For all Other Requests and Elections
P.O. Box 4261 Clinton, IA 52733-4261 Telephone: 833-208-3018
Fax:
877-319-2495 |
|
Fees and Expenses |
Location in
Prospectus | |||
Charges for Early
Withdrawals |
If you withdraw money during the first 9 full
Contract Years following a
Purchase Payment
, you may be assessed a withdrawal charge of up to 8% of
the
Purchase Payment and any associated
Purchase Payment Credits
withdrawn, declining to 0% over that time period.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. |
Fee Table and
Examples Charges and
Deductions –
Withdrawal
Charge | |||
Transaction
Charges |
In addition to withdrawal charges, you also may be charged for the
following transactions: transfers of cash value between investment options,
which include the
Underlying Funds and the Fixed Account
. Transfer Charge. 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 Charges and
Deductions –
Transfer Charge |
|
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 Charges and
Deductions | |||
Annual Fee |
Minimum |
Maximum | |||
Base Contract1 |
1.57% |
1.92% |
|||
Investment options
(Portfolio Company fees
and expenses)2 |
0.39% |
1.31% |
|||
Optional benefits
available for an
additional charge (for a
single optional benefit, if
elected) |
0.15%3 |
0.50%4 | |||
1 As a percentage of average daily net assets of the Separate Account. The charge shown also
includes the annual Contract administrative charge.
2 As a percentage of fund assets before temporary expense reimbursements and/or fee
waivers.
3 As a percentage of average daily net assets of the Separate Account. This charge is the
current charge for the least expensive optional benefit.
4 As a percentage of average daily net assets of the Separate Account. 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
$1,787 |
Highest
Annual Cost $3,561 | ||||
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. |
Principal Risks | |||
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. Withdrawal charges may apply
for the first 9 years of the Contract. Withdrawal charges will
reduce the value of your Contract if you withdraw money during that
time period. 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 | |||
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., Underlying
Funds). •Each investment option, including the Fixed Account, has its own unique
risks. •You should review the prospectuses for the available Underlying Funds
and the prospectus disclosure concerning the
Fixed Account before
making an investment decision. |
Principal Risks | |||
Insurance
Company Risks |
An investment in the Contract is subject to the risks related to us. Any
obligations (including under the
Fixed Account), or 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 the
Company, including our financial strength ratings, is available by
contacting us at (888) 243-1968. |
Principal Risks | |||
|
Restrictions |
| |||
Investments |
•The Fixed Account
is currently not available for new investments, except through our Special Dollar Cost Averaging Program. •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 Underlying Funds
available as investment options under the Contract. |
Transfers | |||
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. •You must select a specific annuity option to exercise the Variable
Liquidity Benefit during the annuity period. •Purchase
Payment Credits may not be included in the calculation of a
living or death benefit, including the standard death benefit. |
Benefits Available Under the Contract Death
Benefit Living Benefits Payment Options
– Variable
Liquidity Benefit |
|
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 59½. |
Federal 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.
|
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. |
Other Information – Exchanges |
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 growth of capital. |
Brighthouse Asset Allocation 100 Portfolio — Class
B‡ Brighthouse Investment Advisers, LLC |
0.99% |
20.81% |
11.55% |
7.92% |
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% |
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% |
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 total return through
investment in real estate
securities, emphasizing
both capital appreciation
and current income. |
CBRE Global Real Estate Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: CBRE Investment
Management Listed Real Assets LLC |
0.65% |
12.87% |
6.40% |
4.65% |
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% |
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 maximum real return,
consistent with preservation
of capital and prudent
investment management. |
PIMCO Inflation Protected Bond Portfolio — Class
A Brighthouse Investment Advisers, LLC Subadviser: Pacific Investment
Management Company LLC |
0.68% |
3.74% |
3.28% |
2.32% |
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% |
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 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% |
9.78% |
11.38% |
— |
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 A# Brighthouse Investment Advisers, LLC Subadviser: BlackRock Advisors, LLC
|
0.39% |
5.84% |
1.53% |
2.20% |
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
A# Brighthouse Investment Advisers, LLC Subadviser: BlackRock Advisors, LLC
|
0.36% |
5.05% |
1.76% |
1.18% |
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% |
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% |
10.52% |
5.60% |
4.34% |
Seeks a balance between a
high level of current
income and growth of
capital, with a greater
emphasis on growth of
capital. |
Brighthouse Asset Allocation 60 Portfolio — Class B‡ Brighthouse Investment Advisers, LLC |
0.91% |
13.59% |
7.72% |
5.67% |
Seeks growth of capital. |
Brighthouse Asset Allocation 80 Portfolio — Class B‡ Brighthouse Investment Advisers, LLC |
0.94% |
17.30% |
9.75% |
6.91% |
Seeks long-term capital
appreciation with some
current income. |
Brighthouse/Wellington Balanced Portfolio — Class
A Brighthouse Investment Advisers, LLC Subadviser: Wellington Management
Company LLP |
0.53% |
18.10% |
10.09% |
8.07% |
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% |
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 maximum capital
appreciation. |
Frontier Mid Cap Growth Portfolio — Class D# Brighthouse Investment Advisers, LLC Subadviser: Frontier Capital Management
Company, LLC |
0.81% |
17.88% |
11.15% |
9.17% |
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% |
25.63% |
15.10% |
11.47% |
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 A†† Brighthouse Investment Advisers, LLC Subadviser: Neuberger Berman
Investment Advisers LLC |
0.80% |
15.53% |
12.40% |
8.75% |
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% |
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 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% |
21.28% |
11.56% |
9.17% |
Seeks to maximize total
return consistent with
preservation of capital. |
Western Asset Management Strategic Bond Opportunities Portfolio
— Class A# Brighthouse Investment Advisers, LLC
Subadviser: Western Asset Management Company LLC |
0.56% |
9.44% |
2.80% |
3.01% |
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% |
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 capital
appreciation. |
Contrafund® Portfolio — Service Class 2
Fidelity Management & Research Company
LLC Subadviser: FMR UK, FMR HK, and FMR Japan |
0.81% |
33.12% |
16.36% |
11.33% |
Seeks capital appreciation. |
Dynamic Capital Appreciation Portfolio — Service Class 2†† Fidelity Management & Research Company LLC
Subadviser: FMR UK, FMR HK, and FMR Japan |
0.87% |
28.72% |
16.93% |
11.38% |
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 |
0.82% |
14.80% |
12.17% |
7.85% |
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. |
ClearBridge Variable Large Cap Growth Portfolio — Class
I Legg Mason Partners Fund Advisor, LLC Subadviser: ClearBridge Investments,
LLC |
0.76% |
44.02% |
15.51% |
13.27% |
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% |
Class B - At Least 20% |
BlackRock Bond Income Portfolio — Class A |
BlackRock High Yield Portfolio — Class A |
PIMCO Inflation Protected Bond Portfolio — Class A |
PIMCO Total Return Portfolio — Class B |
Western Asset Management Strategic Bond Opportunities Portfolio — Class A |
Class A - Up to 80% |
American Funds Global Growth Fund — Class 2 |
American Funds Growth Fund — Class 2 |
American Funds Growth-Income Fund — Class 2 |
BlackRock Capital Appreciation Portfolio — Class A |
BlackRock Ultra-Short Term Bond Portfolio — Class A |
Brighthouse Asset Allocation 100 Portfolio — Class B |
Brighthouse Asset Allocation 20 Portfolio — Class B |
Brighthouse Asset Allocation 40 Portfolio — Class B |
Brighthouse Asset Allocation 60 Portfolio — Class B |
Brighthouse Asset Allocation 80 Portfolio — Class B |
Brighthouse Small Cap Value Portfolio — Class B |
Brighthouse/abrdn Emerging Markets Equity Portfolio — Class B |
Brighthouse/Wellington Balanced Portfolio — Class A |
Brighthouse/Wellington Core Equity Opportunities Portfolio — Class A |
Brighthouse/Wellington Large Cap Research Portfolio — Class E |
CBRE
Global Real Estate Portfolio — Class A |
ClearBridge Variable Appreciation Portfolio — Class I |
ClearBridge Variable Large Cap Growth Portfolio — Class I |
ClearBridge Variable Large Cap Value Portfolio — Class I |
ClearBridge Variable Small Cap Growth Portfolio — Class I |
Contrafund® Portfolio — Service Class 2 |
Frontier Mid Cap Growth Portfolio — Class D |
Harris Oakmark International Portfolio — Class A |
Invesco Comstock Portfolio — Class B |
Invesco Global Equity Portfolio — Class B |
Invesco Small Cap Growth Portfolio — Class A |
JPMorgan Small Cap Value Portfolio — Class A |
Loomis Sayles Growth Portfolio — Class A |
MetLife Stock Index Portfolio — Class B |
MFS® Total Return Portfolio — Class F |
MFS® Value Portfolio — Class A |
Mid Cap Portfolio — Service Class 2 |
Neuberger Berman Genesis Portfolio — Class B |
T. Rowe Price Large Cap Growth Portfolio — Class B |
T. Rowe Price Large Cap Value Portfolio — Class B |
T. Rowe Price Small Cap Growth Portfolio — Class B |
Templeton Foreign VIP Fund — Class 2 |
Victory Sycamore Mid Cap Value Portfolio — Class B |
Western
Asset Management U.S. Government Portfolio — Class A |