Rollover Requests (Non-ERISA plan/ IRA account) |
P.O. Box 70255
Philadelphia, PA 19176-0255 |
Payments/ Contributions (Non-Qualified/ IRA account) |
P.O. Box 70247
Philadelphia, PA 19176-0247 |
General Servicing Requests and Elections for Contracts receiving Annuity Payments |
P.O. Box 4363
Clinton, IA 52733-4363 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 |
All Other Correspondence and Requests |
P.O. Box 4261
Clinton, IA 52733-4261 |
|
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withdrawn, declining to 0% over that time period.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 Charges |
|
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 |
1.58% |
1.93% |
|||
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 |
0.80%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 $3,765 | ||||
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 to maximize total
return, consistent with
income generation and
prudent investment
management. |
BlackRock High Yield Portfolio — Class B# Brighthouse Investment Advisers, LLC Subadviser: BlackRock Financial
Management, Inc. |
0.90% |
13.07% |
5.66% |
4.53% |
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 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. |
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 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 E# Brighthouse Investment Advisers, LLC Subadviser: T. Rowe Price Associates,
Inc. |
0.68% |
9.78% |
11.38% |
— |
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 E# Brighthouse Investment Advisers, LLC Subadviser: BlackRock Advisors, LLC
|
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
A# Brighthouse Investment Advisers, LLC Subadviser: BlackRock Advisors, LLC
|
0.36% |
5.05% |
1.76% |
1.18% |
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 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% |
7.38% |
12.84% |
10.08% |
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 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% |
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% |
7.85% |
11.27% |
8.51% |
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 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 long-term capital
appreciation, with
preservation of capital as an
important consideration. |
Franklin Rising Dividends VIP Fund — Class 2# Franklin Advisers, Inc. |
0.90% |
12.08% |
13.75% |
10.23% |
Seeks long-term capital
growth. |
Franklin Small-Mid Cap Growth VIP Fund — Class 2# Franklin Advisers, Inc. |
1.08% |
26.74% |
13.51% |
8.96% |
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
growth. |
Templeton Foreign VIP Fund — Class 2# Templeton Investment Counsel, LLC |
1.07% |
20.76% |
5.27% |
1.28% |
Seeks dividend income,
growth of dividend income
and long-term capital
appreciation. |
ClearBridge Variable Dividend Strategy Portfolio — Class
II Legg Mason Partners Fund Advisor, LLC Subadviser: ClearBridge Investments,
LLC |
1.00% |
14.01% |
13.35% |
10.17% |
Seeks capital appreciation
by investing in a diversified
portfolio of securities
consisting primarily of
common stocks. |
Pioneer Mid Cap Value VCT Portfolio — Class II
Amundi Asset Management US, Inc. |
1.05% |
11.91% |
12.46% |
7.38% |
BlackRock High Yield Portfolio — Class B |
BlackRock Ultra-Short Term Bond Portfolio — Class A |
Brighthouse Asset Allocation 60 Portfolio — Class B |
Brighthouse Asset Allocation 80 Portfolio — Class B |
ClearBridge Variable Dividend Strategy Portfolio — Class II |
MFS® Total Return Portfolio — Class B |
PIMCO Total Return Portfolio — Class B |
Western
Asset Management Strategic Bond Opportunities Portfolio — Class E |
Class B - At Least 20% |
BlackRock Ultra-Short Term Bond Portfolio — Class A |
Brighthouse Asset Allocation 60 Portfolio — Class B |
Brighthouse Asset Allocation 80 Portfolio — Class B |
MFS® Total Return Portfolio — Class B |
PIMCO Total Return Portfolio — Class B |
Western Asset Management Strategic Bond Opportunities Portfolio — Class E |
Class A - Up to 80% |
BlackRock Capital Appreciation Portfolio — Class E |
BlackRock High Yield Portfolio — Class B |
Brighthouse/abrdn Emerging Markets Equity Portfolio — Class B |
Brighthouse/Wellington Core Equity Opportunities Portfolio — Class B |
ClearBridge Variable Dividend Strategy Portfolio — Class II |
Franklin Rising Dividends VIP Fund — Class 2 |
Franklin Small-Mid Cap Growth VIP Fund — Class 2 |
Invesco Comstock Portfolio — Class B |
Invesco Global Equity Portfolio — Class B |
Jennison Growth Portfolio — Class B |
Loomis Sayles Growth Portfolio — Class B |
MFS® Research International Portfolio — Class B |
MFS® Value Portfolio — Class B |
Neuberger Berman Genesis Portfolio — Class B |
Pioneer Mid Cap Value VCT Portfolio — Class II |
T. Rowe Price Large Cap Value Portfolio — Class E |
Templeton
Foreign VIP Fund — Class 2 |