Scudder Advocate Rewards Annuity
ISSUED BY
BRIGHTHOUSE LIFE INSURANCE COMPANY
Updating Summary Prospectus
April 29, 2024
A Flexible Premium Deferred Variable Annuity Contract
The prospectus for Scudder Advocate Rewards Annuity  (the "Contract"), a flexible deferred premium variable annuity contract issued by Brighthouse Life Insurance Company (the “Company,” “we,” “us,” or “our”), is available and contains more information about the Contract including its features, benefits, and risks. You can find the current prospectus and other information about the Contract online at https://dfinview.com/BHF/TAHD/BHF108. You can also obtain this information at no cost by calling (833) 208-3018 or by sending an email request to rcg@brighthousefinancial.com. We no longer actively offer the Contracts to new purchasers.
The Contract includes Purchase Payment Credits (also referred to as "bonus credits"). Expenses for variable annuity contracts with bonus credits may be higher than for other contracts without such credits. The amount of Purchase Payment Credits under the Contract may be more than offset by the higher fees and charges associated with the credits.
Additional general information about certain investment products, including variable annuities, has been prepared by the Securities and Exchange Commission’s staff and is available at Investor.gov.
The Securities and Exchange Commission has not approved or disapproved these securities or the adequacy of this prospectus. Any representation to the contrary is a criminal offense.
Table of Contents
 
 
Page
3
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5
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B-1
2
Glossary
Contract Owner (you) — the person named in the Contract (on the specifications page) as the owner of the Contract.
Contract Value — Purchase Payments, plus any associated Purchase Payment Credits, plus or minus any investment experience on the amounts allocated to the Variable Funding Options or interest on amounts allocated to the Fixed Account, adjusted by any applicable charges and withdrawals.
Contract Years — twelve month periods beginning with the date of Contract issuance.
Fixed Account — an account that consists of all of the assets under this Contract other than those in the Separate Account. The Fixed Account is part of the general assets of the Company.
Purchase Payment — the premium payment(s) applied to the Contract, less any premium taxes (if applicable).
Purchase Payment Credit — an amount credited to your Contract Value that equals a percentage of each Purchase Payment made.
Separate Account — a segregated account registered with the Securities and Exchange Commission (SEC), the assets of which are invested solely in the Underlying Funds. The assets of the Separate Account are held exclusively for the benefit of Contract Owners.
Underlying Fund — a portfolio of an open-end management investment company, that is registered with the SEC, in which a Subaccount invests. May also be referred to as “Portfolio Company.”
Variable Funding Option — a Subaccount of the Separate Account (i.e., a portion of the assets of the Separate Account) that invests in an Underlying Fund.
You, your — The Contract Owner and a natural person, a trust established for the benefit of a natural person or a charitable remainder trust.
Updated Information You Should Consider About the Contract
The information in this Updating Summary Prospectus is a summary of certain Contract features that have changed since the Updating Summary Prospectus dated May 1, 2023. This may not reflect all of the changes that have occurred since you entered into your Contract.
Contract Owner Inquiries
The contact information for the offices that administer your Contract is as follows:
•
Telephone: (833) 208-3018 (unless otherwise indicated below)
•
Fax: (877) 319-2495 (unless otherwise indicated below)
•
Correspondence: 
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
3
All Other Correspondence and Requests
P.O. Box 4261
Clinton, IA 52733-4261
We are not a fiduciary and do not give advice or make recommendations regarding insurance or investment products. Ask your financial representative for guidance regarding any requests or elections and for information about your particular investment needs. Please bear in mind that your financial representative, or any financial firm or financial professional you consult to provide advice, is acting on your behalf. We are not a party to any agreement between you and your financial professional. We do not recommend and are not responsible for any securities transactions or investment strategies involving securities (including account recommendations).
4
Important Information You Should Consider About the Contract
 
 
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
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
5
 
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
 
Appendix A:
Available Under
the Contract
Annual Fee
Minimum
Maximum
Base Contract1
1.57%
1.57%
Investment options
(Portfolio Company fees
and expenses)2
0.53%
1.24%
Optional benefits
available for an
additional charge (for a
single optional benefit, if
elected)
0.15%3
0.65%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
$1,451
Highest Annual Cost
$3,714
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
•No additional Purchase
Payments, transfers, or
withdrawals
6
 
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
•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
 
Appendix C:
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
 
Appendix B:
Available Under
the Benefits
Offered Under
the Contract
7
 
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
8
Appendix A
Underlying Funds Available Under the Contract
The following is a list of Underlying Funds under the Contract. More information about the Underlying Funds is available in the prospectuses for the Underlying Funds, which may be amended from time to time and can be found online at https://dfinview.com/BHF/TAHD/BHF108. You can also request this information at no cost by calling (833) 208-3018 or sending an email request to rcg@brighthousefinancial.com. Depending on the optional benefits you choose, you may not be able to invest in certain Underlying Funds. See Appendix B: Underlying Funds Available Under the Benefits Offered Under the Contract.
The current expenses and performance information below reflects fees and expenses of the Underlying Funds, but do not reflect the other fees and expenses that your Contract may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Underlying Fund’s past performance is not necessarily an indication of future performance.  
Investment Objectives
Portfolio Company and
Adviser/Sub-Adviser
Current
Expenses
Average Annual
Total Returns
(as of 12/31/2023)
1
Year
5
Year
10
Year
Seeks both capital
appreciation and current
income.
Invesco V.I. Equity and Income Fund —
Series I††
Invesco Advisers, Inc.
0.57%
10.56%
9.93%
7.06%
Seeks long-term capital
appreciation.
BNY Mellon Sustainable U.S. Equity
Portfolio, Inc. — Service Shares
The Dreyfus Corporation
Subadviser: Newton Investment
Management (North America) Limited
0.92%
23.50%
14.85%
10.18%
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 A#
Brighthouse Investment Advisers, LLC
Subadviser: abrdn Investments Limited
0.96%
6.67%
3.14%
1.56%
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 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 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%
A-1
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 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%
19.84%
11.63%
10.45%
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%
5.59%
1.28%
1.95%
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%
4.80%
1.50%
0.98%
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 B
Brighthouse Investment Advisers, LLC
Subadviser: Wellington Management
Company LLP
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%
7.38%
12.84%
10.08%
Seeks maximum capital
appreciation.
Frontier Mid Cap Growth Portfolio —
Class B#
Brighthouse Investment Advisers, LLC
Subadviser: Frontier Capital Management
Company, LLC
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%
52.86%
17.69%
14.03%
A-2
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 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 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 E#
Brighthouse Investment Advisers, LLC
Subadviser: Massachusetts Financial
Services Company
0.73%
7.97%
11.39%
8.62%
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 E#
Brighthouse Investment Advisers, LLC
Subadviser: T. Rowe Price Associates,
Inc.
0.72%
46.66%
13.35%
11.72%
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 E#
Brighthouse Investment Advisers, LLC
Subadviser: Western Asset Management
Company LLC
0.71%
9.30%
2.65%
2.87%
Seeks long-term capital
appreciation.
DWS Small Mid Cap Value VIP —
Class B#
DWS Investment Management Americas,
Inc.
1.17%
14.59%
8.38%
5.13%
Seeks long-term capital
appreciation.
Alger Capital Appreciation Portfolio —
Class S††
Fred Alger Management, LLC
1.20%
42.78%
15.14%
12.25%
#
Certain Underlying Funds and their investment advisers have entered into temporary expense reimbursements and/or fee waivers, which are reflected in the Current Expenses. Please see the Underlying Funds' prospectuses for additional information regarding these arrangements.
‡
This Underlying Fund is a fund of funds and invests substantially all of its assets in other underlying funds. Because the Underlying Fund invests in other funds, it will bear its pro rata portion of the operating expenses of those underlying funds, including the management fee.
††
Closed to new investments except under dollar cost averaging and rebalancing programs in existence at the time of closing.
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Appendix B
Underlying Funds Available Under the Benefits Offered Under the Contract
If you have elected an optional benefit under the Contract, your Contract may be subject to investment restrictions, as reflected below. See “Living Benefits” in the prospectus for more details. If your optional benefit is not identified
below, your Contract is not currently subject to any investment restrictions. 
Investment Restrictions for GMWB II, GMWB II Plus, and GMWB III
We reserve the right to restrict allocations to one or more Variable Funding Options or limit the percentage of Contract Value that may be allocated  to any Variable Funding Option at any time. We also reserve the right to require periodic rebalancing of Contract Value allocated to Variable Funding Options according to specified percentages. We will provide no less than 30 days’ advance written notice if we exercise our right to restrict or limit allocations to one or more Variable Funding Options and/or require periodic rebalancing between Variable Funding Options.
Investment Restrictions for GMAB
If you own the GMAB rider, you are required to allocate 100% of your Contract Value and Purchase Payments to one or more of the Variable Funding Options listed below.
 
BlackRock Ultra-Short Term Bond Portfolio — Class B
Brighthouse Asset Allocation 40 Portfolio — Class B
Brighthouse Asset Allocation 60 Portfolio — Class B
Brighthouse Asset Allocation 80 Portfolio — Class B
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The prospectus and statement of additional information ("SAI") include additional information. The prospectus and SAI are dated the same as this summary prospectus and are incorporated by reference. The prospectus and SAI are available, without charge, upon request. For a free copy, call us at (833) 208-3018 or send an email request to rcg@brighthousefinancial.com. You can also access the prospectus, SAI and other information about the Contract online at https://dfinview.com/BHF/TAHD/BHF108.
Reports and other information about the Separate Account are available on the SEC’s website at http://www.sec.gov, and copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.
EDGAR Contract Identifier No. is C000016183