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)
|
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 |
Fee Table and
Examples
Expenses – 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
variable investment portfolios and the
fixed account.
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. |
||||
Annual Fee |
Minimum |
Maximum | |||
Base contract1 |
1.43% |
1.43% | |||
Investment options
(portfolio company fees and
expenses)2 |
0.39% |
1.11% | |||
1 As a percentage of average account value in the Separate Account. The charge shown also
includes the contract maintenance charge.
2 As a percentage of fund assets before temporary expense reimbursements and/or fee waivers. | |||||
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
$1,662 |
Highest Annual Cost
$2,219 | ||||
Assumes: |
Assumes: | ||||
•Investment of $100,000 •5% annual appreciation •Least expensive portfolio company fees and expenses •No additional purchase payments,
transfers, or withdrawals |
•Investment of $100,000 •5% annual appreciation •Most expensive portfolio company fees and expenses |
|
Risks |
| |||
Risk of Loss |
You can lose money by investing in this contract, including loss of
principal. |
Principal Risks of Investing in the Contract |
|
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 5 years of the
contract. Withdrawal charges will reduce the value of your contract if you withdraw
money during that time.
The benefits of tax deferral mean the contract is more beneficial to
investors with a long time horizon. |
Principal Risks
of Investing in
the Contract | |||
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.,
variable investment portfolios). •Each investment option, including the fixed account, has its own unique
risks. •You should review the prospectuses for the available funds and the
prospectus disclosure concerning the
fixed account before making an
investment decision. |
Principal Risks
of Investing in
the Contract | |||
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 BLIC, including our financial strength ratings, is
available by contacting us at (888) 243-1968. |
Principal Risks
of Investing in
the Contract | |||
|
Restrictions |
| |||
Investments |
•Certain investment portfolios may not be available depending on the
version of the contract that you purchased. •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 investment portfolios
available as investment options under the contract. |
||||
|
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 –
Compensation
Paid to Selling
Firms | |||
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 and Other 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. |
Invesco V.I. EQV International
Equity Fund — Series I†† Invesco Advisers, Inc. |
0.90% |
18.15% |
8.42% |
4.33% |
Seeks long-term capital appreciation. |
Brighthouse Small Cap Value
Portfolio — Class A†† Brighthouse Investment Advisers, LLC Subadviser: Delaware Investments
Fund Advisers, a series of Macquarie
Investment Management Business
Trust, and Allspring Global
Investments, LLC |
0.87% |
14.21% |
11.08% |
7.43% |
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 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 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% |
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 capital appreciation. |
Invesco Global Equity
Portfolio — Class A†† Brighthouse Investment Advisers, LLC Subadviser: Invesco Advisers,
Inc. |
0.58% |
34.99% |
12.48% |
8.68% |
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 A# Brighthouse Investment Advisers, LLC Subadviser: Loomis, Sayles &
Company, L.P. |
0.55% |
52.06% |
16.39% |
10.80% |
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 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 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 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 A# Brighthouse Investment Advisers, LLC Subadviser: T. Rowe Price
Associates, Inc. |
0.53% |
9.91% |
11.55% |
8.93% |
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% |
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 long-term growth of capital. |
Baillie Gifford International Stock
Portfolio — Class B†† Brighthouse Investment Advisers, LLC Subadviser: Baillie Gifford
Overseas Limited |
1.00% |
18.36% |
6.88% |
4.46% |
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 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 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 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 A# Brighthouse Investment Advisers, LLC Subadviser: Jennison Associates
LLC |
0.55% |
53.26% |
17.98% |
14.32% |
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. |
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 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 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 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% |
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% |
Seeks to provide capital growth. |
Growth Opportunities
Portfolio — Initial Class
Fidelity Management & Research
Company LLC
Subadviser: FMR UK, FMR HK, and FMR Japan |
0.59% |
45.65% |
19.09% |
15.73% |
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 1†† Templeton Investment Counsel, LLC |
0.82% |
21.09% |
5.54% |
1.54% |
Seeks capital growth and current
income. |
Putnam VT Large Cap Value
Fund — Class IB
Putnam Investment Management,
LLC |
0.82% |
15.67% |
14.50% |
10.26% |