|
FEES AND EXPENSES |
Location in
Prospectus | ||
Charges for Early
Withdrawals |
During the first 11 Policy years, if you surrender your Policy, reduce its
face amount, or make a partial surrender that reduces the
face amount, or if your Policy lapses, then we will deduct a
surrender charge from the Policy’s
Cash Value. The surrender charge
includes a Deferred Sales Charge and a Deferred
Administrative Charge: •The maximum Deferred Sales Charge is 72% of premiums paid up to one Target
Premium. •For example, if you invest in a Policy with a Target Premium of
$100,000 and a $1,000,000 face amount, your maximum Deferred
Sales Charge would be $72,000 (72% of $100,000) and your
maximum Deferred Administrative Charge would be $2,500 (0.25% of
$1,000,000), for a total maximum surrender charge of
$74,500. |
Charges –
Surrender Charge Fee Tables | ||
Transaction Charges |
In addition to surrender charges, you may also be charged for other
transactions. These charges include a sales charge and/or
state and federal premium tax with respect to premium
payments and a transfer charge on your transfer of
Cash Value between the
Sub-Accounts and to
or from the
Fixed Account. |
Charges – Sales
Charge; Premium
Tax Charge;
Federal Tax
Charge; Transfer
Charge Fee Tables | ||
Ongoing Fees and
Expenses
(annual charges) |
In addition to surrender charges and transaction charges, an investment
in the Policy is subject to certain ongoing fees and
expenses, including a cost of insurance charge, a Policy
Fee, a mortality and expense risk charge, an administrative
charge, loan interest spread, and charges for various riders
offered along with the Policy. Certain of those ongoing
charges vary in amount depending on the insured’s age, risk class,
and (except for unisex Policies) sex. You should view the
Policy specifications page of your Policy for the specific
charges applicable to your Policy. You also bear the
expenses associated with the Eligible Funds under the Policy, as shown in the following table: |
Charges – Policy
Fee; Administrative
Charge; Monthly
Charges for the
Cost of Insurance;
Mortality and
Expense Risk
Charge; Loan
Interest Spread;
Optional Benefit
Charges; Portfolio
Expenses Fee Tables | ||
Annual Fee |
Minimum |
Maximum | ||
Investment options
(
Eligible Fund fees and expenses)* |
0.28% |
0.98% | ||
*As a percentage of
Eligible Fund assets before temporary expense reimbursements
and/or fee waivers. | ||||
|
RISKS |
| ||
Risk of Loss |
You can lose money by investing in the Policy. |
Principal Risks of Investing in the Policy |
|
RISKS |
Location in
Prospectus | ||
Not a Short-Term
Investment |
The Policy is not a short-term investment and is not appropriate for an
investor who needs ready access to cash. If you make a
premature withdrawal of cash from your Policy, you may incur
various costs (e.g., a surrender charge) and also possible
Federal income tax. |
Principal Risks of
Investing in the
Policy Charges | ||
Risks Associated with Investment
Options |
An investment in the Policy is subject to the risk of poor investment
performance and can vary depending on the performance of the
investment options available under the Policy (e.g., the
Eligible Funds). Each investment option, including the Fixed Account, will have its own
unique risks, and you should review these investment options before
making an investment decision. |
|||
Insurance
Company Risks |
An investment in the Policy is subject to the risks related to NELICO,
including that any obligations (including obligations
related to amounts invested in the
Fixed Account), guarantees, or benefits are subject to
NELICO’s claims-paying ability. More information about
NELICO, including its financial strength ratings, is
available upon request by calling (888)
243-1968. |
|||
Contract Lapse |
In general, in any month that your Policy’s Net
Cash Value is not large
enough to cover the
Monthly Deduction (i.e., the amount we deduct on
the first day of each Policy month for charges such as the Policy Fee),
your Policy will be in default, and may lapse. Your
Policy’s Net Cash Value can be impacted by poor investment performance of the Eligible Funds
you select. Your Policy may also lapse if Policy loans plus accrued
interest reduces the Net
Cash Value to zero. Additionally, insufficient
premium payments, withdrawals, and Policy charges (including
increases in those charges) could cause the Policy to lapse and you will
no longer have insurance coverage. If your Policy has
lapsed, in most states you may reinstate it within seven
years after the date of lapse. Reinstatement in all cases
requires payment of certain charges described in the Policy
and usually requires evidence of insurability that is
satisfactory to us. Death benefits will not be paid if the Policy has lapsed. |
Lapse and
Reinstatement | ||
|
RESTRICTIONS |
| ||
Investments |
Availability of Portfolios. We reserve the right to close or substitute an
Eligible Fund or limit its availability to subsequent premium payments
and/or transfers of
Cash Value. You may not invest in more than ten
Sub-Accounts
at any one time. Transfers. We may limit the number of transfers between the
Sub-Accounts
and to and from the Fixed Account to no more than four
per Policy year. We may impose a processing charge of $25 for each
transfer in excess of 12 per Policy year. We may also impose
restrictions on frequent transfers. We are not currently
imposing the maximum limit on transfers and withdrawals from
the Fixed Account, but we reserve the right to do so. |
Charges – Transfer
Charge | ||
Optional Benefits |
Various optional benefits may be available in the form of a rider to your
Policy. Not all of these riders may be available to you. In
general, supplemental insurance benefits may be (i)
available only to insureds within certain age ranges and/or
who meet certain criteria (e.g., terminal illness) (ii)
subject to minimum and/or maximum specified amounts, and
(iii) subject to certain termination conditions. We may stop offering an
optional benefit at any time. |
Other Benefits Available Under the Policy |
|
TAXES |
Location in
Prospectus | ||
Tax Implications |
You should consult with a tax professional to determine the tax
implications of an investment in and payments received under
the Policy. Please note that there is no additional tax
benefit to you if the Policy is purchased through a
tax-qualified plan. Withdrawals will be subject to ordinary
income tax and may be subject to tax penalties. |
Tax Considerations | ||
|
CONFLICTS OF INTEREST |
| ||
Investment
Professional
Compensation |
All firms selling the Policy receive commissions. The portion of the
commission payments that selling firms pass on to their
sales representatives is determined in accordance with their
internal compensation programs. A selling firm, or a sales
representative of a selling firm, may receive different
compensation for selling one product over another and may
have a financial incentive to offer or recommend the Policy
over another investment. Apart from the payment of
commissions, selling firms may receive additional compensation,
including marketing allowances, introduction fees,
persistency payments, preferred status fees and industry
conference fees. |
Distribution of the
Policies | ||
Exchanges |
In general, sales representatives may have a financial incentive to offer
you a new insurance policy in place of the policy you
already own. You should exchange your Policy only if you
determine, after comparing the features, fees, and risks of
both policies, that it is preferable for you to purchase the
new policy rather than continue to own the existing Policy. |
Replacing Existing Insurance Distribution of the
Policies |
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 Small Capitalization Fund
— Class 2# Capital Research and Management CompanySM
|
0.91% |
16.17% |
8.31% |
5.78% |
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 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% |
5.02% |
1.89% |
2.08% |
Seeks growth of capital. |
Brighthouse Asset Allocation 100 Portfolio — Class
A‡ Brighthouse Investment Advisers, LLC |
0.74% |
21.10% |
11.83% |
8.19% |
Seeks long-term capital
appreciation. |
Brighthouse/Wellington Large Cap Research Portfolio
— Class A# Brighthouse Investment Advisers, LLC
Subadviser: Wellington Management Company LLP |
0.54% |
25.74% |
15.38% |
11.71% |
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 appreciation. |
Invesco Global Equity Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Invesco Advisers,
Inc. |
0.58% |
34.99% |
12.48% |
8.68% |
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. |
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 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 A# Brighthouse Investment Advisers, LLC
Subadviser: Massachusetts Financial Services Company |
0.65% |
13.05% |
8.82% |
4.43% |
Seeks capital appreciation. |
Morgan Stanley Discovery Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Morgan Stanley
Investment Management Inc.
|
0.67% |
41.23% |
11.07% |
8.77% |
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 A# Brighthouse Investment Advisers, LLC Subadviser: Pacific Investment
Management Company LLC |
0.55% |
6.22% |
1.25% |
1.86% |
Seeks growth of capital and
income. |
SSGA Growth and Income ETF Portfolio — Class
A‡ Brighthouse Investment Advisers, LLC
Subadviser: SSGA Funds Management, Inc. |
0.52% |
14.12% |
7.77% |
5.76% |
Seeks growth of capital. |
SSGA Growth ETF Portfolio — Class A‡ Brighthouse Investment Advisers, LLC Subadviser: SSGA Funds Management,
Inc. |
0.55% |
16.13% |
9.47% |
6.70% |
Seeks long-term growth of
capital. |
T. Rowe Price Mid Cap Growth Portfolio — Class
A# Brighthouse Investment Advisers, LLC
Subadviser: T. Rowe Price Associates, Inc.
Sub-Subadviser: T. Rowe Price
Investment Management, Inc. |
0.70% |
20.11% |
11.90% |
10.72% |
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 high total return by
investing in equity securities
of mid-sized companies. |
Victory Sycamore Mid Cap Value Portfolio — Class
A# Brighthouse Investment Advisers, LLC
Subadviser: Victory Capital Management Inc. |
0.60% |
10.20% |
14.66% |
8.57% |
Seeks long-term growth of
capital. |
Baillie Gifford International Stock Portfolio — Class
A# Brighthouse Investment Advisers, LLC
Subadviser: Baillie Gifford Overseas Limited |
0.75% |
18.59% |
7.15% |
4.72% |
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
A#‡ Brighthouse Investment Advisers, LLC |
0.64% |
8.08% |
3.88% |
3.31% |
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
A‡ Brighthouse Investment Advisers, LLC |
0.64% |
10.82% |
5.87% |
4.60% |
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
A‡ Brighthouse Investment Advisers, LLC |
0.66% |
13.93% |
8.00% |
5.93% |
Seeks growth of capital. |
Brighthouse Asset Allocation 80 Portfolio — Class
A‡ Brighthouse Investment Advisers, LLC |
0.69% |
17.51% |
10.02% |
7.17% |
Seeks long-term capital
growth. |
Brighthouse/Artisan Mid Cap Value Portfolio — Class
A# Brighthouse Investment Advisers, LLC
Subadviser: Artisan Partners Limited Partnership |
0.77% |
18.53% |
11.56% |
6.75% |
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 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% |
Seeks maximum capital
appreciation. |
Frontier Mid Cap Growth Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Frontier Capital
Management Company, LLC
|
0.71% |
18.00% |
11.26% |
9.28% |
Seeks long-term growth of
capital. |
Jennison Growth Portfolio — Class A# Brighthouse Investment Advisers, LLC Subadviser: Jennison Associates
LLC |
0.55% |
53.26% |
17.98% |
14.32% |
Seeks long-term capital
growth from investments in
common stocks or other
equity securities. |
Loomis Sayles Small Cap Core Portfolio — Class
A# Brighthouse Investment Advisers, LLC
Subadviser: Loomis, Sayles & Company, L.P. |
0.89% |
17.46% |
11.35% |
7.90% |
Seeks long-term capital
growth. |
Loomis Sayles Small Cap Growth Portfolio — Class
A# Brighthouse Investment Advisers, LLC
Subadviser: Loomis, Sayles & Company, L.P. |
0.87% |
11.91% |
10.08% |
8.49% |
Seeks to track the
performance of the
Bloomberg U.S. Aggregate
Bond Index. |
MetLife Aggregate Bond Index Portfolio — Class
A Brighthouse Investment Advisers, LLC Subadviser: MetLife Investment
Management, LLC |
0.28% |
5.20% |
0.87% |
1.57% |
Seeks to track the
performance of the
Standard & Poor’s MidCap
400® Composite Stock
Price Index. |
MetLife Mid Cap Stock Index Portfolio — Class
A Brighthouse Investment Advisers, LLC Subadviser: MetLife Investment
Management, LLC |
0.31% |
16.08% |
12.34% |
9.01% |
Seeks to track the
performance of the MSCI
EAFE® Index. |
MetLife MSCI EAFE® Index Portfolio —
Class A Brighthouse Investment Advisers, LLC
Subadviser: MetLife Investment Management, LLC |
0.39% |
17.93% |
7.99% |
4.05% |
Seeks to track the
performance of the Russell
2000® Index. |
MetLife Russell 2000® Index Portfolio — Class
A Brighthouse Investment Advisers, LLC Subadviser: MetLife Investment
Management, LLC |
0.32% |
16.80% |
9.90% |
7.16% |
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 A# Brighthouse Investment Advisers, LLC Subadviser: MetLife Investment
Management, LLC |
0.26% |
25.94% |
15.39% |
11.75% |
Seeks a favorable total
return through investment
in a diversified portfolio. |
MFS® Total Return Portfolio —
Class A# Brighthouse Investment Advisers, LLC Subadviser: Massachusetts Financial
Services Company |
0.62% |
10.40% |
8.53% |
6.59% |
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 long-term growth of
capital. |
T. Rowe Price Large Cap Growth Portfolio — Class
A# Brighthouse Investment Advisers, LLC
Subadviser: T. Rowe Price Associates, Inc. |
0.57% |
46.81% |
13.52% |
11.88% |
Seeks long-term capital
growth. |
T. Rowe Price Small Cap Growth Portfolio — Class
A Brighthouse Investment Advisers, LLC Subadviser: T. Rowe Price Associates,
Inc. |
0.51% |
21.57% |
11.84% |
9.44% |
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% |
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
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 reasonable income.
The fund will also consider
the potential for capital
appreciation. The fund’s
goal is to achieve a yield
which exceeds the
composite yield on the
securities comprising the
S&P 500® Index. |
Equity-Income Portfolio — Initial Class
Fidelity Management & Research Company
LLC Subadviser: FMR UK, FMR HK, and FMR Japan |
0.47% |
10.65% |
12.30% |
8.58% |