# EDGAR Filing Document

**Accession Number:** 0001209404
**File Stem:** 0001193125-26-183664
**Filing Date:** 2026-4
**Character Count:** 246486
**Document Hash:** e8eb4504294eb0e6b7d3fa657f951acb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-183664.hdr.sgml**: 20260428

**ACCESSION NUMBER**: 0001193125-26-183664

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260428

**DATE AS OF CHANGE**: 20260428

**EFFECTIVENESS DATE**: 20260428

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Brighthouse Separate Account Eleven for Variable Annuities
- **CENTRAL INDEX KEY:** 0001209404

**ORGANIZATION NAME:**
- **EIN:** 060566090
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-152259
- **FILM NUMBER:** 26903274

**BUSINESS ADDRESS:**
- **STREET 1:** BRIGHTHOUSE LIFE INSURANCE COMPANY
- **STREET 2:** 11225 NORTH COMMUNITY HOUSE ROAD
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28277
- **BUSINESS PHONE:** 980-365-7100

**MAIL ADDRESS:**
- **STREET 1:** BRIGHTHOUSE LIFE INSURANCE COMPANY
- **STREET 2:** 11225 NORTH COMMUNITY HOUSE ROAD
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28277

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** METLIFE OF CT SEPARATE ACCOUNT ELEVEN FOR VARIABLE ANNUITIES
- **DATE OF NAME CHANGE:** 20060714

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TIC SEPARATE ACCOUNT ELEVEN FOR VARIABLE ANNUITIES
- **DATE OF NAME CHANGE:** 20021210

## Series and Classes Contracts Data

### BRIGHTHOUSE SEPARATE ACCOUNT ELEVEN FOR VARIABLE ANNUITIES (Series ID: S000005920)

---

|  |  |
|:---|:---|
| Class Name           | Class ID   |
| PrimElite Annuity II | C000068847 |

---

## Series and Classes Contracts Data

### BRIGHTHOUSE SEPARATE ACCOUNT ELEVEN FOR VARIABLE ANNUITIES (Series ID: S000005920)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000068847 | PrimElite Annuity II |  |

**PrimElite II**<sup>SM</sup> **Annuity** 

**issued by** 

**BRIGHTHOUSE LIFE INSURANCE COMPANY** 

**and** 

**BRIGHTHOUSE SEPARATE ACCOUNT ELEVEN FOR VARIABLE ANNUITIES** 

This prospectus describes PrimElite II Annuity, a flexible premium deferred variable annuity contract (the "Contract") issued by Brighthouse Life Insurance Company (the "Company", "our", "us", "we", or "BLIC"). The Contract is offered for individuals and some tax qualified and non-tax qualified retirement plans. Currently the Contract is not available for new sales. The investment options available under the Contract include (1) variable options, which are the 32 Variable Funding Options, and (2) a Fixed Account that offers an interest rate guaranteed by us. The Fixed Account is not available for new investments at this time. For additional information regarding the investment options available under the Contract, please refer to Appendix A to this prospectus.

**The availability of the investment options, Contract benefits, or other Contract features described in this prospectus may vary depending on the state through which your Contract is issued or the selling firm through which it is sold.** Also, you should note that your Contract features and charges may vary depending on the date on which you purchased your Contract. For more information about the particular features, charges, and options applicable to you, please contact your financial representative or refer to Appendix D to this prospectus or your Contract for Contract variation information.

The Contract is a complex investment and involves risks, including potential loss of principal. The Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash. Withdrawals (partial or full) could result in withdrawal charges, taxes, or tax penalties.

The Company's obligations under the Contract are subject to Our financial strength and claims-paying ability. Additional information about certain investment products, including 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.** 

**The Contracts are not deposits of any bank, are not guaranteed by any bank or credit union, and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any government agency. The Contracts may be subject to loss of principal.** 

**Prospectus Dated: April 27, 2026**

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **Page** |
| [Glossary](#xx_a871d009-2293-4632-9a99-2f78b54f105f_1) | 3 |
| [Overview of the Contract](#xx_5b501d7b-9e43-4937-b1fe-9a2e33e1acea_1) | 5 |
| &nbsp;&nbsp;&nbsp; [Important Information You Should Consider About the](#xx_b872609f-85b0-463a-b52b-787e1ea4d4cd_1)<br> [Contract](#xx_b872609f-85b0-463a-b52b-787e1ea4d4cd_1)<br>| 7 |
| [Fee Table and Examples](#xx_fe523c62-982b-4895-aed8-d81f3d34ea03_1) | 11 |
| [Principal Risks of Investing in the Contract](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_1) | 13 |
| [The Annuity Contract](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_2) | 14 |
| [Contract Owner Inquiries](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_3) | 15 |
| [Purchase Payments](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_4) | 16 |
| [Accumulation Units](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_5) | 17 |
| [The Variable Funding Options](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_5) | 17 |
| [Fixed Account](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_7) | 19 |
| [Charges and Deductions](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_7) | 19 |
| [General](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_7) | 19 |
| *[Transaction Charges](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_8)* | 20 |
| [Withdrawal Charge](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_8) | 20 |
| [Free Withdrawal Allowance](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_8) | 20 |
| [Transfer Charge](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_8) | 20 |
| [Variable Liquidity Benefit Charge](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_9) | 21 |
| *[Annual Contract Expenses](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_9)* | 21 |
| [Base Contract Charge – Administrative Charges](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_9) | 21 |
| &nbsp;&nbsp;&nbsp; [Base Contract Charge – Mortality and Expense Risk](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_9)<br> [Charge](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_9)<br>| 21 |
| [Enhanced Stepped-Up Provision Charge](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_10) | 22 |
| [Variable Funding Option Expenses](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_10) | 22 |
| [Changes in Taxes Based upon Premium or Value](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_10) | 22 |
| [Transfers](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_10) | 22 |
| [Restrictions on Transfers](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_11) | 23 |
| [Dollar Cost Averaging](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_12) | 24 |
| [Automatic Rebalancing Program](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_13) | 25 |
| [Transfers to and from the Fixed Account](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_14) | 26 |
| [Access to Your Money](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_14) | 26 |
| [Systematic Withdrawals](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_15) | 27 |
| [Loans](#xx_9c58a0a3-5c91-467f-b511-a8583445f9f8_15) | 27 |
| [Benefits Available Under the Contract](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_1) | 28 |
| [Ownership Provisions](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_3) | 30 |
| [Types of Ownership](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_3) | 30 |
| [Contract Owner](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_3) | 30 |
| [Beneficiary](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_4) | 31 |
| [Annuitant](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_4) | 31 |
| [Death Benefit](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_5) | 32 |
| [Death Proceeds before the Maturity Date](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_5) | 32 |
| [Enhanced Stepped-Up Provision ("E.S.P.")](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_5) | 32 |
| [Payment of Proceeds](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_6) | 33 |
| &nbsp;&nbsp;&nbsp; [Spousal Contract Continuance (subject to availability —](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_8)<br> [does not apply if a non-spouse is a joint owner)](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_8)<br>| 35 |
| &nbsp;&nbsp;&nbsp; [Beneficiary Contract Continuance (not permitted for](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_9)<br> [non-natural beneficiaries)](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_9)<br>| 36 |
| [Planned Death Benefit](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_9) | 36 |
| [Death Proceeds after the Maturity Date](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_9) | 36 |
| &nbsp;&nbsp;&nbsp; [Notification of Death Prior to the Completion of a](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_10)<br> [Requested Transaction](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_10)<br>| 37 |
| [Death Proceeds under 403(b) Contracts](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_10) | 37 |

---

---

| | |
|:---|:---|
|  | **Page** |
| [The Annuity Period](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_10) | 37 |
| [Maturity Date](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_10) | 37 |
| [Allocation of Annuity](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_10) | 37 |
| [Variable Annuity](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_11) | 38 |
| [Fixed Annuity](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_11) | 38 |
| [Payment Options](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_11) | 38 |
| [Election of Options](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_11) | 38 |
| [Annuity Options](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_12) | 39 |
| [Variable Liquidity Benefit](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_12) | 39 |
| [Miscellaneous Contract Provisions](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_13) | 40 |
| [Right to Return](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_13) | 40 |
| [Termination](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_13) | 40 |
| [Required Reports](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_13) | 40 |
| [Postponement of Payment (the "Emergency Procedure")](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_13) | 40 |
| [Variable Funding Options](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_13) | 40 |
| [The Separate Account](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_14) | 41 |
| [Federal Tax Considerations](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_14) | 41 |
| [General Taxation of Annuities](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_15) | 42 |
| [Types of Contracts: Qualified and Non-qualified](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_16) | 43 |
| [Qualified Annuity Contracts](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_16) | 43 |
| [Taxation of Qualified Annuity Contracts](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_16) | 43 |
| &nbsp;&nbsp;&nbsp; [Applicable Age for Required Minimum Distributions](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_16)<br> [(RMD)](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_16)<br>| 43 |
| [Mandatory Distributions for Qualified Plans](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_17) | 44 |
| [Individual Retirement Annuities](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_18) | 45 |
| [Roth IRAs](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_19) | 46 |
| [TSAs (Tax-Sheltered Annuities — ERISA and Non-ERISA)](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_19) | 46 |
| [Non-qualified Annuity Contracts](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_21) | 48 |
| [Diversification Requirements for Variable Annuities](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_22) | 49 |
| [Ownership of the Investments](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_22) | 49 |
| [Taxation of Death Benefit Proceeds](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_23) | 50 |
| [Other Tax Considerations](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_23) | 50 |
| [Treatment of Charges for Optional Benefits](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_23) | 50 |
| [Puerto Rico Tax Considerations](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_23) | 50 |
| [Non-Resident Aliens](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_23) | 50 |
| [Tax Credits and Deductions](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_23) | 50 |
| [Other Information](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_23) | 50 |
| [Brighthouse Life Insurance Company](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_24) | 51 |
| [Distributor](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_24) | 51 |
| [Good Order](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_25) | 52 |
| [Conformity with State and Federal Laws](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_25) | 52 |
| [Voting Rights](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_25) | 52 |
| [Restrictions on Financial Transactions](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_26) | 53 |
| [Legal Proceedings](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_26) | 53 |
| [Exchanges](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_26) | 53 |
| [Financial Statements](#xx_1858c2bd-0722-485d-a18d-a0124db00c9b_26) | 53 |
| &nbsp;&nbsp;&nbsp; [Appendix A:](#xx_324e9ed1-fd06-4826-8edb-d558708daf3b_2)[Investment Options Available Under the](#xx_324e9ed1-fd06-4826-8edb-d558708daf3b_2)<br> [Contract](#xx_324e9ed1-fd06-4826-8edb-d558708daf3b_2)<br>| A-1 |
| [Appendix B:](#xx_fad66465-59f3-4495-b90e-720cc34bb2e2_2)[The Fixed Account](#xx_fad66465-59f3-4495-b90e-720cc34bb2e2_2) | B-1 |
| &nbsp;&nbsp;&nbsp; [Appendix C:](#xx_fad66465-59f3-4495-b90e-720cc34bb2e2_4)[Waiver of Withdrawal Charge for Nursing](#xx_fad66465-59f3-4495-b90e-720cc34bb2e2_4)<br> [Home Confinement](#xx_fad66465-59f3-4495-b90e-720cc34bb2e2_4)<br>| C-1 |
| [Appendix D:](#xx_fad66465-59f3-4495-b90e-720cc34bb2e2_6)[State and Financial Intermediary Variations](#xx_fad66465-59f3-4495-b90e-720cc34bb2e2_6) | D-1 |

---

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***Glossary***

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**Accumulation Unit** — an accounting unit of measure used to calculate the value of this Contract before Annuity Payments begin.

**Annuitant** — the person on whose life the Maturity Date and Annuity Payments depend.

**Annuity Payments** — a series of periodic payments (a) for life; (b) for life with a minimum number of payments; (c) for the joint lifetime of the Annuitant and another person, and thereafter during the lifetime of the survivor; or (d) for a fixed period.

**Annuity Unit** — an accounting unit of measure used to calculate the amount of Annuity Payments.

**Cash Surrender Value** — the Contract Value less any withdrawal charge and premium tax not previously deducted.

**Code** — the Internal Revenue Code of 1986, as amended, and all related laws and regulations that are in effect during the term of this Contract.

**Contingent Annuitant** — the individual who becomes the Annuitant when the Annuitant who is not the owner dies prior to the Maturity Date.

**Contract Date** — the date on which the Contract is issued.

**Contract Owner (you)** — the person named in the Contract (on the specifications page) as the owner of the Contract.

**Contract Value** — Purchase Payments, plus or minus any investment experience on the amounts allocated to the variable funds or interest on amounts allocated to the Fixed Account, adjusted by any applicable charges and withdrawals.

**Contract Years** — twelve month periods beginning with the Contract Date.

**Death Report Date** — the day on which we have received 1) Due Proof of Death and 2) written payment instructions or election of spousal or beneficiary contract continuation.

**Due Proof of Death** — (i) a copy of a certified death certificate; (ii) a copy of a certified decree of a court of competent jurisdiction as to the finding of death; (iii) a written statement by a medical doctor who attended the deceased; or (iv) any other proof satisfactory to us.

**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.

**Good Order** — a request or transaction generally is considered in "good order" if it complies with our administrative procedures and the required information is complete and accurate. A request or transaction may be rejected or delayed if not in good order. If you have any questions, you should contact us or your sales representative before submitting the form or request.

**Home Office** — the Home Office of Brighthouse Life Insurance Company, 11225 North Community House Road, Charlotte, NC 28277, or any other office that we may designate for the purpose of administering this Contract. Unless we designate a different office, the office that administers Your Contract is located at P.O. Box 4261, Clinton, IA, 52733-4261. For instructions on how to submit requests, elections, and inquiries, please see "Contract Owner, Requests, Elections, and Inquiries."

**Maturity Date** — the date on which the Annuity Payments are to begin.

**Payment Option** — an annuity option elected under your Contract.

**Purchase Payment** — any premium paid by you to initiate or supplement this Contract.

**Qualified Contract** — a contract used in a retirement plan or program that is intended to qualify under Sections 401, 403, 408, 408A or 414(d) of the Code.

**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.

**Subaccount** — that portion of the assets of a Separate Account that is allocated to a particular Underlying Fund.

------

**Underlying Fund** — a portfolio of an open-end management investment company that is registered with the SEC in which the Subaccounts invest. May also be referred to as "Portfolio Company."

**Valuation Date** — a date on which a Subaccount is valued.

**Valuation Period** — the period between successive valuations.

**Variable Funding Option** — a Subaccount of the Separate Account that invests in an Underlying Fund.

**We, us, our** — Brighthouse Life Insurance Company.

**Written Request** — written information sent to us in a form and content satisfactory to us and received at our Home Office.

**You, your —** "You" is the Contract Owner and a natural person, a trust established for the benefit of a natural person or a charitable remainder trust.

------

***Overview of the Contract***

------

**Purpose.** The Contract is a variable annuity contract. It provides a means for investing on a tax-deferred basis in the Contract's "investment options" or "funding options," including the Variable Funding Options and our Fixed Account (if available). The Contract is offered for individuals and some tax qualified and non-tax qualified retirement plans. The Contract is designed generally for an investor who intends to hold the Contract for a long period of time and then use the Contract Value (in the form of either withdrawals or Annuity Payments) for retirement savings or other long-term investment purposes. The Contract has various features and benefits that may be appropriate for you based on your financial situation and objectives. The Contract also offers certain death benefit features, which can be used to transfer assets to your beneficiaries. Because of the withdrawal charge (which is in effect for many years) and the possibility of income tax and tax penalties on early withdrawals, the Contract should not be viewed as an investment vehicle offering low cost liquidity. Your financial goal in acquiring the Contract should focus on a long-term insurance product, offering the prospect of investment growth.

**Phases of the Contract.** The Contract has two phases: the accumulation phase and the payout phase (or annuity period). During the accumulation phase, earnings accumulate on a tax-deferred basis and are taxed as income when you make a withdrawal. To help you accumulate assets during the accumulation phase, you can invest your Purchase Payments and Contract Value in: (1) Variable Funding Options available under the Contract, each of which has an Underlying Fund with its own investment strategies and risks; investment adviser(s); expense ratio; and performance history; and (2) if available, the Fixed Account option, which guarantees principal and interest. The Fixed Account is currently unavailable for new investments except through our Special Dollar Cost Averaging Program.

**Additional information about each investment option in which you can invest is provided in Appendix A.** 

The payout phase occurs when you or a designated payee begin receiving regular Annuity Payments from your Contract. All optional benefits, including death benefits, terminate without value at the start of the payout phase. In addition, once the payout phase begins, you generally may no longer take withdrawals from the Contract. Depending on the annuity option you elect, any remaining guarantee may be paid to your beneficiary (or beneficiaries).

**Contract Features.** The following is a brief description of the Contract's primary features.

**Accessing Your Money.** Before you annuitize, you can withdraw money from your Contract at any time. If you take a withdrawal, you may have to pay a withdrawal charge and/or income taxes, including a tax penalty if you are younger than age 59½. Withdrawals could significantly reduce the value of your Contract, the death benefit, and other Contract benefits, including the optional death benefit. The reduction may be more than the amount withdrawn.

**Tax Treatment.** You can transfer money among investment options without tax implications, and earnings (if any) on your investments are generally tax-deferred. You are only subject to tax upon: (1) making a withdrawal; (2) receiving a payment from us; or (3) payment of a death benefit.

**Death Benefit.** The Contract includes, at no additional cost, a standard death benefit that will pay a death benefit to the Beneficiary(ies) if you die during the Accumulation Period. For an additional charge, you may also select an optional and/or additional death benefit, which may increase the amount of money payable to your designated beneficiaries upon your death.

**Variable Liquidity Benefit.** If You elect the Annuity option "Payments for a Fixed Period without Life Contingency," You may exercise the Variable Liquidity Benefit during the annuity period. This benefit allows you to take withdrawals during the annuity period based on the present value of your remaining Annuity Payments. Such withdrawals may significantly reduce or eliminate remaining Annuity Payments and may be subject to withdrawal charges.

**Additional Services and Features.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Dollar Cost Averaging Programs.** These programs allow you to systematically transfer a set amount from the Fixed Account to one or more Variable Funding Options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Automatic Rebalancing Program.** This program directs us to automatically rebalance your Contract to return to your original percentage investment allocations on a periodic basis.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Systematic Withdrawal Program and Managed Distribution Program.** The Systematic Withdrawal Program allows you to receive regular automatic withdrawals from your Contract either monthly, quarterly, semi-annually, or annually, provided that each payment must amount to at least $100 (unless we consent otherwise). You may use the Managed Distribution Program to take required minimum distributions that may be required by the IRS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Electronic Delivery.** As a Contract Owner, you may elect to receive electronic delivery of current prospectuses related to this Contract, as well as other Contract related documents.

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***Important Information You Should Consider About the Contract***

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| | | |
|:---|:---|:---|
|  | **Fees, Expenses, and Adjustments** | &nbsp;&nbsp; **Location in**<br> **Prospectus**<br>|
| **Are There** <br> **Charges or** <br> **Adjustments for** <br> **Early** <br> **Withdrawals?**<br>| &nbsp;&nbsp; **Yes.** If you withdraw money during the first 8 full Contract Years following a <br> Purchase Payment, you may be assessed a withdrawal charge of up to 8% of <br> the Purchase Payment withdrawn, declining to 0% over that time period.<br>For example, if you make an early withdrawal, you could pay a withdrawal <br> charge of up to $8,000 on a $100,000 investment. This loss will be greater <br> if there are taxes or tax penalties. | &nbsp;&nbsp; **Fee Table and** <br> **Examples**<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **Charges and** <br> **Deductions –**<br> **Withdrawal** <br> **Charge**<br>|
| **Are There** <br> **Transaction** <br> **Charges?**<br>| &nbsp;&nbsp; **Yes.** In addition to charges for early withdrawals, You may also be charged <br> for other transactions. There may be taxes on Purchase Payments.<br>Transfer Fee. Currently, We do not charge for transfers. However, We <br> reserve the right to charge for transfers after the first 12 transfers per year. | &nbsp;&nbsp; **Fee Table and** <br> **Examples**<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> **Charges and** <br> **Deductions**<br>|

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**Fees, Expenses, and Adjustments** **Location in** **Prospectus** 

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**Risks** **Location in** **Prospectus** 

**Restrictions** 

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**Restrictions** **Location in** **Prospectus** 

**Taxes** 

**Conflicts of Interest** 

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***Fee Table and Examples***

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**The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering, or making withdrawals from an investment option or from the Contract. Please refer to your Contract specifications page for information about the specific fees you will pay each year based on the options you have selected.** 

**The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender the Contract, make withdrawals from an investment option or from the Contract, or transfer Contract Value between investment options. State premium taxes of 0% to 3.5% may also be deducted.**

**Transaction Expenses** 

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| | |
|:---|:---|
| **Withdrawal Charge**<sup>(1), (2)</sup> <br>| 8% |
| *(as a percentage of Purchase Payments withdrawn)* |  |
| **Transfer Charge**<sup>(3)</sup> | $10<br> $0 (first 12 per year)<br>|

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(1) If an amount withdrawn during the accumulation phase is determined to include the withdrawal of prior Purchase Payments, a withdrawal charge may be assessed. This charge is not assessed during the annuity period. Withdrawal charges are calculated in accordance with the following. (See "Charges and Deductions—Withdrawal Charge.")

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| | | |
|:---|:---|:---|
| **Years Since Purchase Payment Made** | **Years Since Purchase Payment Made** | **Withdrawal Charge** |
| **Greater than or Equal to** | **But less than** |  |
| 0 years | 1 years | 8% |
| 1 years | 2 years | 7% |
| 2 years | 3 years | 6% |
| 3 years | 4 years | 5% |
| 4 years | 5 years | 4% |
| 5 years | 6 years | 3% |
| 6 years | 7 years | 2% |
| 7 years | 8 years | 1% |
| 8 + years |  | 0% |

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(2) During the annuity period, if you exercise the Variable Liquidity Benefit within the first eight years of making the initial Purchase Payment, there is a charge of up to 8% (as a percentage of the present value of the remaining Annuity Payments that are surrendered), declining to 0% over that time period. Starting at year eight, the Variable Liquidity Benefit charge is 0%. This charge is not assessed during the accumulation phase. (Please refer to "Payment Options" section for a description of this benefit.) The charge is as follows:

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| | | |
|:---|:---|:---|
| **Years Since Initial Purchase Payment Made** | **Years Since Initial Purchase Payment Made** | **Withdrawal Charge** |
| **Greater than or Equal to** | **But less than** |  |
| 0 years | 1 years | 8% |
| 1 years | 2 years | 7% |
| 2 years | 3 years | 6% |
| 3 years | 4 years | 5% |
| 4 years | 5 years | 4% |
| 5 years | 6 years | 3% |
| 6 years | 7 years | 2% |
| 7 years | 8 years | 1% |
| 8 + years |  | 0% |

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(3) We do not currently assess the transfer charge.

**The next tables describe the fees and expenses that you will pay *each year* during the time that you own the Contract, not including Underlying Fund fees and expenses.** 

**Annual Contract Expenses** 

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| | |
|:---|:---|
| **Administrative Expenses**<sup>(1)</sup> | $30 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **Base Contract Expenses**<sup>(2)</sup> | 1.65% |
| *(as a percentage of the average daily net assets of the Separate* <br> *Account)*<sup>(3)</sup> <br>|  |
| **Optional Contract Expenses**<sup>(3)</sup> |  |
| *(as a percentage of the average daily net assets of the Separate* <br> *Account)*<br>|  |
| Enhanced Stepped-Up Provision (E.S.P.) | 0.25% |

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(1) We call this fee the "annual Contract administrative charge" in your Contract, as well as in other places in the prospectus. We will deduct this charge on the fourth Friday of each August. We do not assess this charge if Contract Value is $50,000 immediately before we deduct the charge. In the section entitled "Important Information You Should Consider About Your Contract" earlier in the prospectus, we are required to present this fee as part of the Base Contract.

(2) This fee is comprised of two charges we call the "administrative expense charge" and the "mortality and expense risk charge" in your Contract, as well as in other places in the prospectus. See "Charges and Deductions" section of the prospectus, under the sub-headings "Base Contract Charge – Administrative Charges" and "Base Contract Charge – Mortality and Expense Risk Charge" for more information. (3)The optional benefit rider is no longer for sale.

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**The next table shows the minimum and maximum total operating expenses charged by the Underlying Funds that you may pay periodically during the time that you own the Contract. Expenses shown may change over time and may be higher or lower in the future. A complete list of Underlying Funds available under the Contract, including their annual expenses, may be found in Appendix A.**

**Annual Underlying Fund Expenses** 

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| | | |
|:---|:---|:---|
|  | **Minimum** | **Maximum** |
| Total Annual Underlying Fund Expenses |  |  |
| &nbsp;&nbsp;&nbsp; (expenses that are deducted from Underlying Fund assets, including management fees, <br> distribution and/or service (12b-1) fees, and other expenses)<br>| 0.53<br> %<br>| 1.26<br> %<br>|

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**Examples** 

**These Examples are intended to help you compare the cost of investing in the Variable Funding Options under the Contract with the cost of investing in other annuity contracts that offer variable options. These costs include Transaction Expenses, Annual Contract Expenses, and Annual Underlying Fund Expenses.** 

**These Examples assume that you invest $100,000 in the Variable Funding Options under the Contract for the time periods indicated, that your investment has a 5% return each year, and that the Contract is owned during the accumulation phase. These Examples also assume the most expensive combination of optional benefits available for an additional charge, the Minimum or Maximum Total Annual Underlying Fund Operating Expenses shown above, and do not reflect any Underlying Fund fee waivers and/or expense reimbursements. Your costs could differ from those shown below if you invest in the Fixed Account.** 

**Although your actual costs may be higher or lower, based on these assumptions your cost would be:** 

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **If Contract is surrendered at the** <br> **end of period shown:** | **If Contract is surrendered at the** <br> **end of period shown:** | **If Contract is surrendered at the** <br> **end of period shown:** | **If Contract is surrendered at the** <br> **end of period shown:** | **If Contract is NOT surrendered or** <br> **annuitized at the end of period** <br> **shown:** | **If Contract is NOT surrendered or** <br> **annuitized at the end of period** <br> **shown:** | **If Contract is NOT surrendered or** <br> **annuitized at the end of period** <br> **shown:** | **If Contract is NOT surrendered or** <br> **annuitized at the end of period** <br> **shown:** |
| **Funding Option** | **1 year** | **3 years** | **5 years** | **10 years** | **1 year** | **3 years** | **5 years** | **10 years** |
| &nbsp;&nbsp;&nbsp; Underlying Fund with Maximum Total Annual <br> Operating <br> Expenses<br>| &nbsp;&nbsp; $10780 | &nbsp;&nbsp; $14528 | &nbsp;&nbsp; $18533 | &nbsp;&nbsp; $30751 | &nbsp;&nbsp; $2780 | &nbsp;&nbsp; $8528 | &nbsp;&nbsp; $14533 | &nbsp;&nbsp; $30751 |
| &nbsp;&nbsp;&nbsp; Underlying Fund with Minimum Total Annual <br> Operating <br> Expenses<br>| &nbsp;&nbsp; $10530 | &nbsp;&nbsp; $13780 | &nbsp;&nbsp; $17292 | &nbsp;&nbsp; $28308 | &nbsp;&nbsp; $2530 | &nbsp;&nbsp; $7780 | &nbsp;&nbsp; $13292 | &nbsp;&nbsp; $28308 |

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The Examples should not be considered a representation of past or future expenses or annual rates of return of any Variable Funding Option. Actual expenses and annual rates of return may be more or less than those assumed for the purpose of the Examples.

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***Principal Risks of Investing in the Contract***

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**Unsuitable as Short-Term Savings Vehicle.** The Contract is intended for retirement savings or other long-term investment purposes. The benefits of tax deferral and living benefit protection also mean the Contract is more beneficial to investors with a long time horizon. It is not suitable as a short-term savings vehicle. This means if you plan to withdraw money or surrender the Contract for short-term needs, it may not be the right contract for you. A charge may be assessed on withdrawals and surrenders, and it could be substantial. In addition, withdrawals and surrenders will be subject to ordinary income tax, and may be subject to tax penalties if you take a withdrawal or surrender before age 59 ½. **Please discuss your insurance needs and financial objectives with your financial representative.** 

**Investment Risk.** You bear the risk of any decline in your Contract Value resulting from the performance of the Variable Funding Options you have chosen. Your Contract Value could decline very significantly, and there is a risk of loss of the entire amount invested. This risk varies with each Variable Funding Option's Underlying Fund. This risk could have a significant negative impact on certain benefits and guarantees under the Contract. The investment risks are described in the prospectuses for the Underlying Funds.

**Contract Benefits Risk.** Withdrawals could significantly reduce the value of your Contract, the death benefit, and Contract benefits. The reduction may be more than the amount withdrawn. Specifically, withdrawals may reduce the value of the optional death benefit by an amount greater than the value withdrawn, which could significantly reduce the value or even terminate the benefit. You should consider the impact that a withdrawal may have on standard and optional Contract benefits.

**Availability of Investment Options.** We reserve the right to add, remove or substitute the Underlying Funds available as investment options under the Contract. In the future, we may change the investment options that are available to you under certain optional riders. We also reserve the right to limit transfers or impose a charge for transfers in excess of 12 per year, and we may restrict payments to or transfers to and from the Fixed Account as an investment option.

**Insurance Company Risk.** An investment in the Contract is subject to the risks related to us. Any obligations (including under the Fixed Account), and guarantees and benefits of the Contract that exceed the assets of the Separate Account are subject to our claims-paying ability. It is possible that we could experience financial difficulty in the future and even become insolvent, and therefore unable to provide all of the guarantees and benefits that exceed the assets in the Separate Account that we promise. Likewise, our experiencing financial difficulty could impair our ability to fulfill our obligations under the Fixed Account offered under this Contract.

**Tax Consequences.** Withdrawals are generally taxable (to the extent of any earnings in the Contract), and prior to age 59 ½ a tax penalty may apply. In addition, even if the Contract is held for years before any withdrawal is made, the withdrawals are taxable as ordinary income rather than capital gains.

**Cybersecurity and Certain Business Continuity Risks.** Our variable product business is largely conducted through complex information technology and communications systems operated by us and our service providers and business partners (e.g., the Underlying Funds and the firms involved in the distribution and sale of our variable contracts). Our operations rely on the secure processing, storage and transmission of data and confidential and other information in our systems and the systems of third-party service providers. We have established administrative and technical controls and business continuity and resilience plans to protect our operations against attempts by unauthorized third parties to improperly access, modify, disrupt the operation of, or prevent access to critical networks or systems or data within them (a "cyber-attack"). Despite these protocols, the techniques used to attack systems and networks change frequently, are becoming more sophisticated, and can originate from a wide variety of sources including internal actors (through malicious or accidental acts), terrorists, nation states, financially or politically motivated actors, or other third parties, such as external service providers. Furthermore, the rapid evolution and increased adoption of artificial intelligence technologies ("AI") may intensify our cybersecurity risks, including the deployment of artificial intelligence technologies by malicious third parties and threat actors that may increase in sophistication and effectiveness in the future. There may be an increased risk of cyber-attacks that may adversely disrupt or degrade our operations and compromise our data during periods of geo-political or military conflict. There is also a chance that certain risks have not been identified or prepared for, or that an attack may not be detected which limits our ability, as well as that of our service providers and business partners, to plan for or respond to, an attack.

A failure of our computer systems could cause significant interruptions in our operations, compromise the security, confidentiality or privacy of sensitive data, and otherwise adversely affect our business and ability to administer the Contracts. Unanticipated problems with, or failures of, our disaster recovery systems and business continuity plans

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could also have a material, negative impact on our ability to conduct business and on our financial condition and operations, as well as on individual Owners and their Contracts. Our operations also could be negatively impacted by a cyber-attack or system failure affecting a third party, such as a service provider, business partner, another participant in the financial markets, or a governmental or regulatory authority.

Disruptions or failures to our operations, systems and networks can originate from a wide variety of sources including, but not limited to, a disaster such as a natural catastrophe, epidemic or pandemic crisis, military or terrorist actions, cyber-attack, and unanticipated problems with our or our service providers' disaster recovery systems (and the disaster recovery systems of such vendors' suppliers, vendors or subcontractors). Such disasters and events may adversely affect our ability to conduct business or administer the Contract.

Cyber-attacks and disruptions or failures to our system and business operations could result in regulatory fines or sanctions, litigation, penalties or financial losses, reputational harm, loss of customers, and/or otherwise adversely affect our business. Such events could also interfere with our processing of Contract transactions, including the processing of transfer orders from our website or with the Underlying Funds; impact our ability to calculate Contract values; cause the release and/or possible loss, misappropriation or corruption of data or confidential Contract Owner or business information; or impede order processing or cause other operational issues. Cyber-attacks, disruptions or failures may also impact the issuers of securities in which the Underlying Funds invest, and it is possible the Underlying Funds underlying your Contract could lose value.

We cannot control the cybersecurity plans and systems implemented by third parties, including service providers or issuers of securities in which the Underlying Funds invest. Although we continually make efforts to identify and reduce our exposure to cybersecurity risks and operations failures, there can be no assurance that we or our third party service providers or the Underlying Funds will be able to detect, manage, prevent or avoid cyber-attacks, disruptions or failures affecting your Contract due to cyber-attacks, disruptions or failures in the future.

***The Annuity Contract***

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PrimElite II<sup>SM</sup> Annuity is a contract between the Contract Owner ("you") and the Company.

The Contract is intended for retirement savings or other long-term investment purposes. The Contract has features and benefits that may be appropriate for you based on your financial situation and objectives, but we are not a fiduciary and do not give advice or make recommendations regarding insurance or investment products, or any securities transactions or investment strategies involving securities (including account recommendations). You should ask your financial representative for guidance regarding whether the Contract may be appropriate for you. 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.

This is the prospectus — it is not the Contract. When you receive your Contract, we suggest you read it promptly and carefully. This prospectus describes all the material features of the Contract, including material state variations.

The Company offers several different annuities that your financial representative (where applicable) may be authorized to offer to you. Each annuity offers different features and benefits that may be appropriate for you. In particular, the annuities differ based on variations in the standard and optional death benefit protection provided for your beneficiaries, the availability of optional living benefits, the ability to access your Contract Value if necessary and the charges that you will be subject to if you make a withdrawal or surrender the annuity. The separate account charges and other charges may be different between each annuity we offer. Optional death benefits and living benefits are subject to a separate charge for the additional protections they offer to you and your beneficiaries. Furthermore, annuities that offer greater flexibility to access your Contract Value generally are subject to higher separate account charges than annuities that deduct charges if you make a withdrawal or surrender.

We encourage you to evaluate the fees, expenses, benefits and features of this annuity against those of other investment products, including other annuity products offered by us and other insurance companies. Before purchasing this or any other investment product you should consider whether the product you purchase is consistent with your risk tolerance, investment objectives, investment time horizon, financial and tax situation, liquidity needs and how you intend to use the annuity.

You make Purchase Payments to us and we credit them to your Contract. We promise to pay you an income, in the form of Annuity Payments, beginning on a future date that you choose, the Maturity Date. The Purchase Payments accumulate tax deferred in the funding options of your choice. We offer multiple Variable Funding Options. We may

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also offer a Fixed Account option. Where permitted by law, we reserve the right to restrict Purchase Payments into the Fixed Account whenever the credited interest rate on the Fixed Account is equal to the minimum guaranteed interest rate specified under the Contract.

The Contract Owner assumes the risk of gain or loss according to the performance of the Variable Funding Options. The Contract Value is the amount of Purchase Payments, plus or minus any investment experience on the amounts you allocate to the Separate Account ("Separate Account Contract Value") or interest on the amounts you allocate to the Fixed Account ("Fixed Account Contract Value"). The Contract Value also reflects all withdrawals made and charges deducted. There is generally no guarantee that at the Maturity Date the Contract Value will equal or exceed the total Purchase Payments made under the Contract. The date the Contract and its benefits become effective is referred to as the Contract Date. Each 12-month period following the Contract Date is called a Contract Year.

Certain changes and elections must be made in writing to the Company. Where the term "Written Request" is used, it means that you must send written information to our Home Office in a form and content satisfactory to us.

The ages of the owner and Annuitant determine which death benefits and certain optional features are available to you.

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| | |
|:---|:---|
| **Death Benefit/Optional Feature** | **Maximum Age based on the older of the** <br> **Owner and Annuitant on the Contract Date**<br>|
| Standard Death Benefit | 80 |
| Enhanced Stepped-Up Provision (E.S.P) | 75 |

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Purchase of this Contract through a tax qualified retirement plan or IRA does not provide any additional tax deferral benefits beyond those provided by the plan or the IRA. Accordingly, if you are purchasing this Contract through a plan or IRA, you should consider purchasing this Contract for its death benefit, annuity option benefits, and other non-tax-related benefits. You should consult with your tax adviser to determine if this Contract is appropriate for you.

***Contract Owner Inquiries*** 

The Contract information for the offices that administer your Contract is as follows: Please direct Your requests and elections under Your Contract, and inquiries about Your Contract, to Us as directed below. A request or election sent to an address other than the appropriate address provided below may be returned or there may be a delay in processing the request or election.

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| | |
|:---|:---|
| Death Claims | &nbsp;&nbsp;&nbsp;&nbsp; P.O. Box 4330<br> Clinton, IA 52733-4330<br> Telephone: (888) 243-1932<br> Fax: (877) 245-8163<br>|
| ***Annuity Payments/Income*** |  |
| Requests to receive regular income payments (referred to <br> as Annuity Payments)<br>| &nbsp;&nbsp;&nbsp;&nbsp; P.O. Box 4365<br> Clinton, IA 52733-4365<br> Telephone: (800) 882-1292<br> Fax: (877) 246-8424<br>|
| Death Claims for Contracts receiving Annuity Payments | &nbsp;&nbsp;&nbsp;&nbsp; P.O. Box 4364<br> Clinton, IA 52733-4364<br> Telephone: (800) 882-1292<br> Fax: (877) 245-8163<br>|
| General requests and elections for Contracts receiving <br> Annuity Payments<br>| &nbsp;&nbsp;&nbsp;&nbsp; P.O. Box 4363<br> Clinton, IA 52733-4363<br> Telephone: (800) 882-1292<br> Fax: (877) 246-8424<br>|
| All other requests and elections, including subsequent <br> Purchase Payments, and general inquiries<br>| &nbsp;&nbsp;&nbsp;&nbsp; P.O. Box 4301<br> Clinton, IA 52733-4301<br> Telephone: (888) 243-1932<br> Fax: (877) 246-8424<br>|

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| | |
|:---|:---|
| If:<br> **1.** Your Contract currently has or had an active loan <br> initiated any time on or before April 10, 2011; or<br>**2.** You, as the designated beneficiary on the Contract, <br> elected on or after April 10, 2011, to continue the <br> Contract in your own name after the death of the original <br> owner or annuitant.<br>| &nbsp;&nbsp;&nbsp;&nbsp; ***For all Other Requests and Elections***<br> P.O. Box 4261<br> Clinton, IA 52733-4261<br> Telephone: 833-208-3018<br> Fax: 877-319-2495<br>|

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

***Purchase Payments*** 

Your initial Purchase Payment is due and payable before the Contract becomes effective. The initial Purchase Payment must be at least $5,000. You may make additional payments of at least $100 at any time. No additional Purchase Payments are allowed if this Contract is purchased with a beneficiary-directed transfer of death benefit proceeds. Under certain circumstances, we may waive the minimum Purchase Payment requirement. Purchase Payments over $1,000,000 may be made only with our prior consent. Where permitted by state law, we may restrict Purchase Payments into the Fixed Account whenever the current credited interest rate for the Fixed Account is equal to the minimum guaranteed rate specified in your Contract. See Appendix D: State and Financial Intermediary Variations. Purchase Payments may be made at any time while the Annuitant is alive and before the date Annuity Payments begin.

We accept Purchase Payments made by check or cashier's check. We do not accept cash, money orders or traveler's checks. We reserve the right to refuse Purchase Payments made via a personal check in excess of $100,000. Purchase Payments over $100,000 may be accepted in other forms, including but not limited to, EFT/wire transfers, certified checks, corporate checks, and checks written on financial institutions. The form in which we receive a Purchase Payment may determine how soon subsequent disbursement requests may be fulfilled. (See "Access To Your Money.")

We will apply the initial Purchase Payment less any applicable premium tax within two business days after we receive it at our Home Office with a properly completed application or order request. If your request or other information accompanying the initial Purchase Payment is incomplete when received, we will hold the Purchase Payment for up to five business days. If we cannot obtain the necessary information within five business days, we will return the Purchase Payment in full, unless you specifically consent for us to keep it until you provide the necessary information.

We will credit subsequent Purchase Payments to a Contract on the same Business Day we receive it, if received in Good Order by our Home Office prior to close of regular trading on the NYSE (typically 4:00 p.m. Eastern Time). If we receive the Purchase Payment after close of the NYSE, we will credit the Purchase Payment to the Contract on the next Business Day. If Purchase Payments on your behalf are not submitted to us in a timely manner or in Good Order, there may be a delay in when amounts are credited.

**If you send your Purchase Payments or transaction requests to an address other than the one we have designated for receipt of such Purchase Payments or requests, we may return the Purchase Payments to you, or there may be a delay in applying the Purchase Payments or transaction to your Contract.** 

**Qualified Contracts under Section 403(b).** Pursuant to regulations promulgated under Section 403(b) of the Code, employers must meet certain requirements in order for their employees' annuity contracts that fund these programs to retain a tax deferred status under Section 403(b) of the Code. Prior to the rules, transfers of one annuity contract to another would not result in a loss of tax deferred status under 403(b) of the Code under certain conditions (so-called "90-24 transfers"). The regulations have the following effect regarding transfers: (1) a newly issued contract funded by a transfer which is completed after September 24, 2007, is subject to the employer requirements referred to above; (2) additional Purchase Payments made after September 24, 2007, to a contract that was funded by a 90-24 transfer on or before September 24, 2007, may subject the contract to these employer requirements. If your Contract was issued as a Qualified Contract under Section 403(b) of the Code (also called a "tax sheltered annuity" or "TSA") in a 90-24 transfer completed on or before September 24, 2007, we urge you to consult with your tax adviser prior to making additional purchase payments. Such additional payments may have significant adverse tax consequences. (See "Federal Tax Considerations.")

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***Accumulation Units*** 

The period between the Contract Date and the Maturity Date is the accumulation period. During the accumulation period, Accumulation Units are used to calculate the value of a Contract. Each Variable Funding Option has a corresponding Accumulation Unit value. The Accumulation Units are valued each Valuation Date and their values may increase or decrease from day to day. The daily change in value of an Accumulation Unit each day is based on the investment performance of the corresponding Underlying Fund, and the deduction of Separate Account charges shown in the Fee Table in this prospectus. The number of Accumulation Units we will credit to your Contract once we receive a Purchase Payment or transfer request (or, liquidate for a withdrawal request) is determined by dividing the amount directed to each Variable Funding Option (or, taken from each Variable Funding Option) by the value of its Accumulation Units next determined after receipt of a Purchase Payment or transfer request (or withdrawal request). We calculate the value of an Accumulation Unit for each Variable Funding Option as of the close of regular trading (normally 4:00 p.m. Eastern Time) on each Valuation Date. After the value is calculated, we adjust your Contract Value accordingly. During the annuity period (i.e., after the Maturity Date), you are credited with Annuity Units.

**Accumulation Unit Value.** The value of the Accumulation Units for each Funding Option was initially established at $1.00. The value of an Accumulation Unit on any Valuation Date is determined by multiplying the value on the preceding Valuation Date by 1.000 plus the net investment factor for the Valuation Period just ended. The net investment factor is used to measure the investment performance of a Funding Option from one Valuation Period to the next. The net investment factor for a Funding Option for any Valuation Period is equal to (a) minus (b), divided by (c) where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) = investment income plus capital gains and losses (whether realized or unrealized); <br>(b) = any deduction for applicable taxes (presently zero); and <br>(c) = the value of the assets of the Funding Option at the beginning of the Valuation Period.

The net investment factor may be either positive or negative. A Funding Option's investment income includes any distribution whose ex-dividend date occurs during the Valuation Period. The net investment factor is then reduced by an amount not exceeding the daily equivalent of the maximum annual Separate Account Charge.

***The Variable Funding Options***

You choose the Variable Funding Options to which you allocate your Purchase Payments. These Variable Funding Options are Subaccounts of the Separate Account. The Subaccounts invest in the Underlying Funds. Contract Value allocated to the Variable Funding Options will vary based on the investment experience of the corresponding Underlying Fund in which the Variable Funding Option invests. You are not investing directly in the Underlying Fund. Each Underlying Fund is a portfolio of an open-end management investment company that is registered with the SEC under the Investment Company Act of 1940. These Underlying Funds are not publicly traded and are only offered through variable annuity contracts, variable life insurance policies, and in some instances, certain retirement plans. They are not the same as the retail mutual funds offered outside of a variable annuity or variable life insurance product, although the investment practices and fund names may be similar and the portfolio managers may be identical. Accordingly, the performance of the retail mutual fund is likely to be different from that of the Underlying Fund.

**Information regarding each Underlying Fund, including its name, a brief statement concerning its investment objective, its investment adviser and any subadviser, current expenses and performance is available in Appendix A to this prospectus. Each Underlying Fund has issued a prospectus that contains more detailed information about the Underlying Fund. You should read the prospectuses for these funds carefully before investing. The prospectus and other information can be found online at https://dfinview.com/BHF/PUFT/BHF83. You can also request copies of this information at no cost by calling (888) 243-1932 or sending an email request to** rcg@brighthousefinancial.com**.** 

We select the Underlying Funds offered through this Contract based on a number of criteria, including asset class coverage, the strength of the adviser's or subadviser's reputation and tenure, brand recognition, performance, and the capability and qualification of each investment firm. Another factor we consider during the selection process is whether the Underlying Fund's adviser or subadviser is one of our affiliates or whether the Underlying Fund, its adviser, its subadviser(s), or an affiliate will make payments to us or our affiliates. In this regard, the profit distributions we receive from our affiliated investment advisers are a component of the total revenue that we consider in configuring the features and investment choices available in the variable insurance products that we and our affiliated insurance companies issue. Since we and our affiliated insurance companies may benefit more from the allocation of assets to portfolios advised by our affiliates than those that are not, we may be more inclined to offer portfolios advised

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by our affiliates in the variable insurance products we issue. For additional information on these arrangements, see "Payments We Receive." From time to time we may make new Variable Funding Options available. In addition, we review the Underlying Funds periodically and may remove an Underlying Fund or limit its availability to new Purchase Payments and/or transfers of Contract Value if we determine that the Underlying Fund no longer meets one or more of the selection criteria, and/or if the Underlying Fund has not attracted significant allocations from Contract Owners. In some cases, we have included Underlying Funds based on recommendations made by broker-dealer firms. These broker-dealer firms may receive payments from the Underlying Funds they recommend and may benefit accordingly from the allocation of Contract Value to such Underlying Funds. When the Company develops a variable product in cooperation with a fund family or distributor (e.g. a "private label" product) the Company will generally include Underlying Funds based on recommendations made by the fund family or distributor, whose selection criteria may differ from the Company's selection criteria.

**We do not provide any investment advice and do not recommend or endorse any particular Underlying Fund. You bear the risk of any decline in your Contract Value resulting from the performance of the Underlying Funds you have chosen.** 

If investment in the Underlying Funds or a particular Underlying Fund is no longer possible, in our judgment becomes inappropriate for purposes of the Contract, or for any other reason in our sole discretion, we may substitute another Underlying Fund or Underlying Funds without your consent. The substituted Underlying Fund may have higher fees and expenses. Substitution may be made with respect to existing investments or the investment of future Purchase Payments, or both. However, we will not make such substitution without any necessary approval of the Securities and Exchange Commission and applicable state insurance departments. Furthermore, we may close Underlying Funds to allocations of Purchase Payments or Contract Value, or both, at any time in our sole discretion.

**Payments We Receive.** As described above, an investment adviser (other than our affiliate Brighthouse Investment Advisers, LLC) or subadviser of an Underlying Fund, or its affiliates, may make payments to us and/or certain of our affiliates. These payments may be used for a variety of purposes, including payment of expenses for certain administrative, marketing, and support services with respect to the Contracts and in our role as an intermediary with respect to the Underlying Funds. We and our affiliates may profit from these payments. These payments may be derived, in whole or in part, from the advisory fee deducted from Underlying Fund assets. Contract Owners, through their indirect investment in the Underlying Funds, bear the costs of these advisory fees (see the Underlying Funds' prospectuses for more information). The amount of the payments we receive is based on a percentage of assets of the Underlying Funds attributable to the Contracts and certain other variable insurance products that we and our affiliates issue. These percentages differ and some advisers or subadvisers (or their affiliates) may pay us more than others. These percentages currently range up to 0.50%.

Additionally, an investment adviser (other than our affiliate Brighthouse Investment Advisers, LLC) or subadviser of an Underlying Fund or its affiliates may provide us with wholesaling services that assist in the distribution of the Contracts and may pay us and/or certain of our affiliates amounts to participate in sales meetings. These amounts may be significant and may provide the adviser or subadviser (or its affiliate) with increased access to persons involved in the distribution of the contracts.

We and/or certain of our affiliated insurance companies have joint ownership interests in our affiliated investment adviser, Brighthouse Investment Advisers, LLC, which is formed as a "limited liability company." Our ownership interests in Brighthouse Investment Advisers, LLC entitle us to profit distributions if the adviser makes a profit with respect to the advisory fees it receives from the Underlying Funds. We will benefit accordingly from assets allocated to the Underlying Funds to the extent they result in profits to the adviser. (See the Underlying Fund prospectuses for information on the management fees paid by the Underlying Funds.)

Certain Underlying Funds have adopted a Distribution Plan under Rule 12b-1 of the Investment Company Act of 1940. An Underlying Fund's 12b-1 Plan, if any, is described in more detail in the Underlying Fund's prospectus. (See the Underlying Fund prospectuses for information on the 12b-1 Plan fees paid by the Underlying Funds.) Any payments we receive pursuant to those 12b-1 Plans are paid to us or our distributor. (See "Other Information - Distributor" for more information.) Payments under an Underlying Fund's 12b-1 Plan decrease the Underlying Fund's investment return.

We make certain payments to American Funds Distributors, Inc., principal underwriter for the American Funds Insurance Series. (See "Other Information - Distributor.")

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***Fixed Account***

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We may offer our Fixed Account as a funding option. The Fixed Account is part of our general account and offers an annual interest rate that is guaranteed by us. Compound interest is credited daily to Contract Value in the Fixed Account. The minimum guaranteed interest rate applicable to any Contract is 3%. Information regarding the features of the Fixed Account, including (i) its name, (ii) its term, and (iii) its guaranteed minimum interest rate, is available in Appendix A. Please refer to Appendix B for more information about the Fixed Account.

We guarantee the initial rate for any allocations into the Fixed Account for one year from the date of such allocation. We guarantee subsequent renewal rates for the calendar quarter. We also guarantee that for the life of the Contract we will credit interest at a rate not less than the minimum interest rate allowed by state law. We reserve the right to change the rate subject to applicable state law. We will determine any interest we credit to amounts allocated to the Fixed Account in excess of the minimum guaranteed rate in our sole discretion. You assume the risk that interest credited to the Fixed Account may not exceed the minimum guaranteed rate for any given year. We have no specific formula for determining the interest rate. Some factors we may consider are regulatory and tax requirements, general economic trends and competitive factors.

***Charges and Deductions***

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***General*** 

We deduct the charges described below. The charges are for the services and benefits we provide, costs and expenses we incur, and risks we assume under the Contracts. Services and benefits we provide include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the ability for you to make withdrawals and surrenders under the Contracts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the death benefit paid on the death of the Contract Owner, Annuitant, or first of the joint owners

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the available funding options and related programs (including dollar cost averaging, portfolio rebalancing, and systematic withdrawal programs)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• administration of the annuity options available under the Contracts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the distribution of various reports to Contract Owners

Costs and expenses we incur include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• losses associated with various overhead and other expenses associated with providing the services and benefits provided by the Contracts

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• sales and marketing expenses including commission payments to your registered representative

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• other costs of doing business

Risks we assume include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• that Annuitants may live longer than estimated when the annuity factors under the Contracts were established

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• that the amount of the death benefit will be greater than the Contract Value

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• that the costs of providing the services and benefits under the Contracts will exceed the charges deducted

We may also deduct a charge for taxes.

Unless otherwise specified, charges are deducted proportionately from all funding options in which you are invested.

The amount of a charge may not necessarily correspond to the costs associated with providing the services or benefits indicated by the designated charge. For example, the withdrawal charge we collect may not fully cover all of the sales and distribution expenses we actually incur. The amount of any fee or charge is not impacted by an outstanding loan. We may also profit on one or more of the charges. We may use any such profits for any corporate purpose, including the payment of sales expenses.

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*Transaction Charges* 

***Withdrawal Charge*** 

We do not deduct a sales charge from Purchase Payments when they are made to the Contract. However, a withdrawal charge will apply if Purchase Payments are withdrawn before they have been in the Contract for eight years. Furthermore, a withdrawal charge may be assessed if prior Purchase Payments are withdrawn pursuant to a divorce or separation instrument, if permissible under tax law. We will assess the charge as a percentage of the Purchase Payment withdrawn as follows:

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| | | |
|:---|:---|:---|
| **Years Since Purchase Payment Made** | **Years Since Purchase Payment Made** | **Withdrawal Charge** |
| **Greater than or equal to** | **But less than** |  |
| 0 years | 2 years | 8% |
| 2 years | 4 years | 7% |
| 4 years | 5 years | 6% |
| 5 years | 6 years | 5% |
| 6 years | 7 years | 4% |
| 7 years | 8 years | 3% |
| 8 + years |  | 0% |

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For purposes of the withdrawal charge calculation, withdrawals are deemed to be taken first from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any Purchase Payment to which no withdrawal charge applies, then

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any remaining free withdrawal allowance (as described below) (after being reduced by (a)), then

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any remaining Purchase Payment to which a withdrawal charge applies (on a first-in, first-out basis), then

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any Contract earnings

Unless you instruct us otherwise, we will deduct the withdrawal charge from the amount requested. If we deduct the charge from the amount requested, you would receive less than the dollar amount you requested. If you choose to have the withdrawal charge deducted from the remaining Contract Value, you would receive the full dollar amount you requested, however, this may result in a higher withdrawal charge because the charge would be based on a larger total dollar amount withdrawn from your Contract Value.

We will not deduct a withdrawal charge if Purchase Payments are distributed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• due to the death of the Contract Owner or the Annuitant (with no Contingent Annuitant surviving)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• in the form of lifetime Annuity Payments or Annuity Payments for a fixed period of at least five years

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• under the Nursing Home Confinement provision (as described in Appendix D)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• on required minimum distributions from, or excess contributions to, qualified contracts (this exception only applies to amounts that are required to be distributed from this contract)

***Free Withdrawal Allowance*** 

Beginning in the second Contract Year, you may withdraw up to 15% of the Contract Value annually, without a withdrawal charge. We calculate the available withdrawal amount as of the end of the previous Contract Year. In addition, if you have enrolled in our systematic withdrawal program and have made an initial Purchase Payment of at least $50,000, you may withdraw up to 15% of the Contract Value in the first Contract Year without incurring a withdrawal charge.

Any withdrawal is subject to federal income taxes on the taxable portion. In addition, a 10% federal penalty may be assessed on any withdrawal if the Contract Owner is under age 59½. You should consult with your tax adviser regarding the tax consequences of a withdrawal.

***Transfer Charge*** 

We reserve the right to assess a transfer charge of up to $10.00 on transfers exceeding 12 per year. We will notify you in writing at your last known address at least 31 days before we impose any such transfer charge.

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***Variable Liquidity Benefit Charge*** 

If the Variable Liquidity Benefit is selected, there is a maximum charge of 8% of the amounts withdrawn. This charge is not assessed during the accumulation phase.

We will assess the charge as a percentage of the total benefit received as follows:

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| | | |
|:---|:---|:---|
| **Years Since Purchase Payment Made** | **Years Since Purchase Payment Made** | **Withdrawal Charge** |
| **Greater than or equal to** | **But less than** |  |
| 0 years | 2 years | 8% |
| 2 years | 4 years | 7% |
| 4 years | 5 years | 6% |
| 5 years | 6 years | 5% |
| 6 years | 7 years | 4% |
| 7 years | 8 years | 3% |
| 8 + years |  | 0% |

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Please refer to "Payment Options" for a description of this benefit.

*Annual Contract Expenses* 

***Base Contract Charge – Administrative Charges*** 

There are two administrative charges: the $30 annual Contract administrative charge and the administrative expense charge. The annual Contract administrative charge will be deducted on a pro-rata basis from amounts allocated to the Variable Funding Options. We will deduct this charge on the fourth Friday of each August. This charge compensates us for expenses incurred in establishing and maintaining the Contract and we will prorate this charge (i.e. calculate) from the date of purchase. We will prorate this charge if you surrender your Contract, or if we terminate your Contract. We will not deduct a Contract administrative charge from the Fixed Account, if it is available, or :

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) from the distribution of death proceeds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) after an annuity payout has begun; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) if the Contract Value on the date of assessment equals or is greater than $50,000.

We deduct the administrative expense charge (sometimes called "Subaccount administrative charge") on each business day from amounts allocated to the Variable Funding Options to compensate the Company for certain related administrative and operating expenses. The charge equals, on an annual basis, 0.15% of the daily net asset value allocated to each of the Variable Funding Options, and is reflected in our Accumulation and Annuity Unit value calculations.

***Base Contract Charge – Mortality and Expense Risk Charge*** 

Each business day, we deduct a mortality and expense risk ("M&E") charge from amounts held in the Variable Funding Options. We reflect the deduction in our calculation of Accumulation and Annuity Unit values. The charges stated are the maximum for this product. We reserve the right to lower this charge at any time. This charge is equal to 1.50% annually. This charge compensates the Company for risks assumed, benefits provided and expenses incurred, including the payment of commissions to your registered representative.

We will waive a portion of the M&E charge in connection with investments in certain Subaccounts as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 0.15% or, if greater, an amount, if any, equal to the fund expenses that are in excess of 0.68% for the Subaccount investing in the Western Asset Management U.S. Government Portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 0.15% for the Subaccount investing in the BlackRock Ultra-Short Term Bond Portfolio - Class E of the Brighthouse Funds Trust II;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an amount equal to the Underlying Fund expenses that are in excess of 1.16% for the Subaccount investing in BlackRock Capital Appreciation Portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an amount equal to the Underlying Fund expenses that are in excess of 1.16% for the Subaccount investing in the Brighthouse/Wellington Core Equity Opportunities Portfolio;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an amount equal to the Underlying Fund expenses that are in excess of 1.10% for the Subaccount investing in the Brighthouse Small Cap Value Portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an amount equal to the Underlying Fund expenses that are in excess of 1.10% for the Subaccount investing in the MFS® Research International Portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an amount equal to the Underlying Fund expenses that are in excess of 0.92% for the Subaccount investing in the T. Rowe Price Large Cap Growth Portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an amount equal to the Underlying Fund expenses that are in excess of 0.50% for the Subaccount investing in the BlackRock Ultra-Short Term Bond Portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an amount equal to the Underlying Fund expenses that are in excess of 1.03% for the Subaccount investing in the Invesco Comstock Portfolio – Class B;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an amount equal to the Underlying Fund expenses that are in excess of 0.80% for the Subaccount investing in the T. Rowe Price Large Cap Value Portfolio – Class E; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• an amount equal to the Underlying Fund expenses that are in excess of 1.10% for the Subaccount investing in the CBRE Global Real Estate Portfolio – Class B.

***Enhanced Stepped-Up Provision Charge*** 

If the E.S.P. option is selected, a charge is deducted each business day from amounts held in the Variable Funding Options. The charge equals, on an annual basis, 0.25% of the amounts held in each funding option.

***Variable Funding Option Expenses*** 

We summarized the charges and expenses of the Underlying Funds in the fee table. Please review the prospectus for each Underlying Fund for a more complete description of that fund and its expenses. Underlying Fund expenses are not fixed or guaranteed and are subject to change by the Fund.

Premium Tax

Certain state and local governments charge premium taxes and the premium tax rates generally range from 0.08% to 3.5%, depending upon jurisdiction. We are responsible for paying these taxes and will determine the method used to recover premium tax expenses incurred. We may deduct any applicable premium taxes from your Contract Value either upon death, surrender, annuitization, or at the time you make Purchase Payments to the Contract, but no earlier than when we have a tax liability under state law.

***Changes in Taxes Based upon Premium or Value*** 

If there is any change in a law assessing taxes against the Company based upon premiums, contract gains or value of the Contract, we reserve the right to charge you proportionately for this tax.

***Transfers***

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Subject to the limitations described below, you may transfer all or part of your Contract Value between Variable Funding Options at any time up to 30 days before the Maturity Date. After the Maturity Date, you may make transfers only if allowed by your Contract or with our consent. Transfer requests received at our Home Office that are in Good Order before the close of the New York Stock Exchange (NYSE) will be processed according to the value(s) next computed following the close of business. Transfer requests received on a non-business day or after the close of the NYSE will be processed based on the value(s) next computed on the next business day.

Currently, there are no charges for transfers; however, we reserve the right to charge a fee for any transfer request which exceeds twelve per year. Since each Underlying Fund may have different overall expenses, a transfer of Contract Value from one Variable Funding Option to another could result in your investment becoming subject to higher or lower expenses. Also, when making transfers, you should consider the inherent risks associated with the Variable Funding Options to which your Contract Value is allocated.

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***Restrictions on Transfers*** 

We have policies and procedures that attempt to detect and deter frequent transfers in situations where we determine there is a potential for arbitrage trading. Currently, we believe that such situations may be presented in the international, small-cap, and high-yield Underlying Funds. We monitor transfer activity in the following "Monitored Portfolios." In addition, we monitor transfer activity in all other Funds of the American Funds Insurance Series® available under your Contract.

American Funds Global Growth Fund

American Funds Growth Fund

American Funds Growth-Income Fund

American Funds SMALLCAP World Fund®

American Funds The Bond Fund of America

CBRE Global Real Estate Portfolio

ClearBridge Variable Small Cap Growth Portfolio

MFS® Research International Portfolio

Western Asset Core Plus VIT Portfolio

Western Asset Management Strategic Bond Opportunities Portfolio

We employ various means to monitor transfer activity, such as examining the frequency and size of transfers into and out of the Monitored Portfolios within given periods of time. For example, we currently monitor transfer activity to determine if, for each category of international, small-cap, and high-yield portfolios, in a 12-month period there were: (1) six or more transfers involving the given category; (2) cumulative gross transfers involving the given category that exceed the current account value; and/or (3) two or more "round-trips" involving the given category. A round-trip generally is defined as a transfer in followed by a transfer out within seven calendar days or a transfer out followed by a transfer in within seven calendar days, in either case subject to certain other criteria. **We do not believe that other Underlying Funds present a significant opportunity to engage in arbitrage trading and therefore do not monitor transfer activity in those Underlying Funds.** We may change the Monitored Portfolios at any time without notice in our sole discretion.

Our policies and procedures may result in transfer restrictions being applied to deter frequent transfers. Currently, when we detect transfer activity in the Monitored Portfolios that exceeds our current transfer limits, we will impose transfer restrictions on the entire Contract and will require future transfer requests to or from any Variable Funding Option under that Contract to be submitted in writing with an original signature. A first occurrence will result in a warning letter; the second occurrence will result in imposition of this restriction for a six-month period; a third occurrence will result in the permanent imposition of the restriction.

Transfers made under a Dollar Cost Averaging Program, a rebalancing program or, if applicable, any asset allocation program described in this prospectus are not treated as transfers when we monitor the frequency of transfers.

The detection and deterrence of harmful transfer activity involves judgments that are inherently subjective, such as the decision to monitor only those Underlying Funds that we believe are susceptible to arbitrage trading or the determination of the transfer limits. Our ability to detect and/or restrict such transfer activity may be limited by operational and technological systems, as well as our ability to predict strategies employed by Contract Owners to avoid such detection. Our ability to restrict such transfer activity also may be limited by provisions of the Contract. Accordingly, there is no assurance that we will prevent all transfer activity that may adversely affect Contract Owners and other persons with interests in the Contracts. We do not accommodate frequent transfers in any Underlying Fund and there are no arrangements in place to permit any Contract Owner to engage in frequent transfers; we apply our policies and procedures without exception, waiver, or special arrangement.

The Underlying Funds may have adopted their own policies and procedures with respect to frequent transfers in their respective shares and we reserve the right to enforce these policies and procedures. For example, Underlying Funds

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may assess a redemption fee (which we reserve the right to collect) on shares held for a relatively short period. The prospectuses for the Underlying Funds describe any such policies and procedures, which may be more or less restrictive than the policies and procedures we have adopted. Although we may not have the contractual authority or the operational capacity to apply the frequent transfer policies and procedures of the Underlying Funds, we have entered into a written agreement, as required by SEC regulation, with each Underlying Fund or its principal underwriter that obligates us to provide to the Underlying Fund promptly upon request certain information about the trading activity of individual Contract Owners, and to execute instructions from the Underlying Fund to restrict or prohibit further purchases or transfers by specific Contract Owners who violate the frequent transfer policies established by the Underlying Fund.

In addition, Contract Owners and other persons with interests in the Contracts should be aware that the purchase and redemption orders received by the Underlying Funds generally are "omnibus" orders from intermediaries, such as separate accounts funding variable insurance contracts or retirement plans. The omnibus orders reflect the aggregation and netting of multiple orders from individual owners of variable insurance contracts and/or individual retirement plan participants. The omnibus nature of these orders may limit the Underlying Funds in their ability to apply their frequent transfer policies and procedures. In addition, the other insurance companies and/or retirement plans may have different policies and procedures or may not have any such policies and procedures because of contractual limitations. For these reasons, we cannot guarantee that the Underlying Funds (and thus Contract Owners) will not be harmed by transfer activity relating to other insurance companies and/or retirement plans that may invest in the Underlying Funds. If an Underlying Fund believes that an omnibus order reflects one or more transfer requests from Contract Owners engaged in frequent trading, the Underlying Fund may reject the entire omnibus order.

In accordance with applicable law, we reserve the right to modify or terminate the transfer privilege at any time. We also reserve the right to defer or restrict the transfer privilege at any time that we are unable to purchase or redeem shares of any of the Underlying Funds, including any refusal or restriction on purchases or redemptions of their shares as a result of their own policies and procedures on frequent transfers (even if an entire omnibus order is rejected due to the frequent transfers of a single Contract Owner). You should read the Underlying Fund prospectuses for more details.

**Restrictions on Large Transfers.** Large transfers may increase brokerage and administrative costs of the Underlying Funds and may disrupt portfolio management strategy, requiring an Underlying Fund to maintain a high cash position and possibly resulting in lost investment opportunities and forced liquidations. We do not monitor for large transfers to or from Underlying Funds except where the portfolio manager of a particular Underlying Fund has brought large transfer activity to our attention for investigation on a case-by-case basis. For example, some portfolio managers have asked us to monitor for block transfers where transfer requests have been submitted on behalf of multiple Contract Owners by a third party such as an investment adviser. When we detect such large trades, we may impose restrictions similar to those described above where future transfer requests from that third party must be submitted in writing with an original signature. A first occurrence will result in a warning letter; a second occurrence will result in the imposition of this restriction for a six-month period; a third occurrence will result in the permanent imposition of the restriction.

***Dollar Cost Averaging*** 

The Dollar Cost Averaging ("DCA") Program is a pre-authorized transfer program that allows you to transfer a set dollar amount of Contract Value to one or more Variable Funding Options on a monthly or quarterly basis during the accumulation phase of the Contract. Using this method, you will purchase more Accumulation Units in a Variable Funding Option if the value per unit is low and will purchase fewer Accumulation Units if the value per unit is high. Therefore, you may achieve a lower-than-average cost per unit in the long run if you have the financial ability to continue the program over a long enough period of time. Dollar cost averaging does not assure a profit or protect against a loss.

You may elect the DCA Program through Written Request or other method acceptable to us. You must have a minimum total Contract Value of $5,000 to enroll in the DCA Program. The minimum amount that may be transferred through this program is $100 per transfer. There is no additional fee to participate in the DCA Program.

You may establish pre-authorized transfers from the Fixed Account, if available, subject to certain restrictions. Under the DCA Program, automated transfers from the Fixed Account may not deplete your Fixed Account value in less than twelve months from your enrollment in the DCA Program. The Fixed Account is currently unavailable for new enrollments with respect to the DCA Program.

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In addition to the DCA Program, we may offer an administrative Special DCA Program, established at our discretion, and subject to availability, under which we may credit increased interest rates to Contract Owners. Special DCA Program is not available in Oregon. Special DCA Program is available for new enrollments. Under this program, Contract Owner may pre-authorize level transfers from the Special DCA account within the Fixed Account to any of the Variable Funding Options under either the 6-Month or 12-Month Special DCA Program. The programs may have different credited interest rates at different times and depending on the length of the program. Only new Purchase Payments may be credited to the Special DCA Program. We must transfer all Purchase Payments and accrued interest on a level basis to the selected Variable Funding Options in the applicable time period, and the interest will accrue only on the remaining amounts in the Special DCA account. For example, under the 12-Month program, interest can accrue up to 12 months on the remaining amounts in the Special DCA account and we must transfer all Purchase Payments and accrued interest in this Special DCA account on a level basis to the selected Variable Funding Options in 12 months.

You can only elect one DCA program at a time. The pre-authorized transfers will begin after the initial Program Purchase Payment and complete enrollment instructions are received by the Company. If you make an additional Purchase Payment while the DCA or Special DCA Program is in effect, we will not allocate the additional premium to the DCA or Special DCA Program unless you tell us to do so. Instead, unless you previously provided different allocation instructions for future Purchase Payments or you provide new allocation instructions with the payment, we will allocate the additional Purchase Payment directly to the destination funding options you selected under the DCA or Special DCA Program. Any Purchase Payment received after the DCA or Special DCA Program has ended will be allocated as described in "The Annuity Contract—Purchase Payments."

You may start or stop participation in a DCA program at any time, but you must give the Company at least 30 days' notice to change any automated transfer instructions that are currently in place. If you stop the Special DCA Program, or if we receive notification of your death, your participation in the Special DCA Program will be terminated and all money remaining in your Special DCA account will be transferred to the available destination funding options in accordance with the percentages you have chosen for the Special DCA Program, unless you instruct us otherwise.

All provisions and terms of the Contract apply to the DCA and Special DCA Programs, including provisions relating to the transfer of money between funding options. Transfers made under any DCA program will not be counted for purposes of restrictions we may impose on the number of transfers permitted under the Contract. We reserve the right to suspend or modify transfer privileges at any time and to assess a processing fee for this service.

The following examples may help you further understand the DCA Program and Special DCA Program:

• Under the DCA Program, you could decide to instruct us to transfer $1,000 on the first of each month from the BlackRock Ultra-Short Term Bond Portfolio to another Variable Funding Option that you have selected, such as the BlackRock Capital Appreciation Portfolio. Hypothetically, the $1,000 allocation may have bought 50 Accumulation Units of the BlackRock Capital Appreciation Portfolio in January, 65 Accumulation Units in February, and 45 Accumulation Units in March. In these three months, you allocated $3,000 to the BlackRock Capital Appreciation Portfolio which has resulted in 160 Accumulation Units. The value of each Accumulation Unit is an average of the three values used at the time of allocation. This price averaging that occurs via regular purchases over a period of time is referred to as "dollar cost averaging." If you had allocated the entire $3,000 at one time, the total value might be higher or lower.

• Under the Special DCA Program, you could allocate $12,000 to the Fixed Account and instructed us to make level transfers over 12 months under the 12-Month Program (*i.e.*, $1,000 per month, including any credited interest) from the Fixed Account to a Variable Funding Option that you have selected, such as the BlackRock Capital Appreciation Portfolio. The level transfers would result in dollar cost averaging of Accumulation Units in the BlackRock Capital Appreciation Portfolio, similar to the example above. In addition, amounts remaining in the Fixed Account during the 12 month period would be credited interest. At the end of the 12 months, the original $12,000 (plus any credited interest) will have been transferred from the Fixed Account to the BlackRock Capital Appreciation Portfolio.

***Automatic Rebalancing Program*** 

Once your money has been allocated to the Variable Funding Options, the performance of each Variable Funding Option may cause your allocation to shift. You can direct us to automatically rebalance your Contract Value to return to your original percentage allocations by selecting our Automatic Rebalancing Program. You can tell us whether to rebalance monthly, quarterly, semi-annually or annually.

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An Automatic Rebalancing Program is intended to transfer Contract Value from those Variable Funding Options that have increased in value to those that have declined or not increased as much in value. Over time, this method of investing may help you "buy low and sell high," although there can be no assurance that this objective will be achieved. Automatic rebalancing does not guarantee profits, nor does it assure that you will not have losses.

The Automatic Rebalancing Program is available only during the Accumulation Phase. There is no additional charge for participating in the Automatic Rebalancing Program. If you participate in the Automatic Rebalancing Program, the transfers made under the program are not taken into account in determining any transfer fee. We will terminate your participation in the Automatic Rebalancing Program when we receive notification of your death.

***Transfers to and from the Fixed Account*** 

You may make transfers from the Fixed Account to any available Variable Funding Option(s) twice a year during the 30 days following the semiannual anniversary of the Contract Date. We limit transfers to an amount of up to 15% of the Fixed Account Contract Value on the semiannual Contract Date anniversary. (This restriction does not apply to transfers under the Dollar Cost Averaging Program.)

Where permitted by state law, we reserve the right to restrict transfers from the Variable Funding Options to the Fixed Account whenever the credited interest rate on the Fixed Account is equal to the minimum guaranteed interest rate specified under the Contract. Transfers from the Fixed Account are subject to restrictions described in Appendix B. Currently, the Fixed Account is not available for new investments except through our Special Dollar Cost Averaging Program.

***Access to Your Money***

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Any time before the Maturity Date, you may redeem all or any portion of the Cash Surrender Value, that is, the Contract Value less any withdrawal charge, and any premium tax not previously deducted. Full and partial withdrawals are subject to federal income taxes on the taxable portion and may be subject to withdrawal charges. In addition, a 10% federal penalty tax may be assessed on withdrawals if the Contract Owner is under age 59½. Withdrawals could significantly reduce the value of your Contract, the death benefit, and other Contract benefits, including the optional death benefit. The reduction may be more than the amount withdrawn.

Unless you submit a Written Request specifying the Variable Funding Option(s) and/or the Fixed Account from which we are to withdraw amounts, we will make the withdrawal on a pro rata basis from all of the investment options in which you are currently invested. We will determine the Cash Surrender Value as of the close of business after we receive your surrender request at our Home Office. The Cash Surrender Value may be more or less than the Purchase Payments you made. You may not make withdrawals during the annuity period, unless you exercise the Variable Liquidity Benefit that allows you to take withdrawals from the Fixed Account during the annuity period based on the present value of your remaining Annuity Payments. Withdrawals under the Variable Liquidity Benefit will be subject to a withdrawal charge.

For amounts allocated to the Variable Funding Options, we may defer payment of any Cash Surrender Value for a period of up to seven calendar days after the Written Request is received. For amounts allocated to the Fixed Account, we may defer payment of any Cash Surrender Value for a period up to six months. In either case, it is our intent to pay as soon as possible. We cannot process requests for withdrawals that are not in Good Order. We will contact you if there is a deficiency causing a delay and will advise what is needed to act upon the withdrawal request.

We may withhold payment of surrender, loan or withdrawal proceeds if any portion of those proceeds would be derived from a Contract Owner's check that has not yet cleared (i.e., that could still be dishonored by your banking institution). We may use telephone, fax, Internet or other means of communications to verify that payment from the Contract Owner's check has been or will be collected. We will not delay payment longer than necessary for us to verify that payment has been or will be collected. Contract Owners may avoid the possibility of delay in the disbursement of proceeds coming from a check that has not yet cleared by providing us with a certified check.

If your Contract is issued as part of a 403(b) plan, there are restrictions on your ability to make withdrawals from your Contract. You generally may not withdraw contributions or earnings made to your Contract after December 31, 1988 unless you are (a) age 59½, (b) no longer employed, (c) deceased, (d) disabled, or (e) experiencing a financial hardship. Even if you are experiencing a financial hardship, you may only withdraw contributions, not earnings.

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Additional details and other special rules or exceptions may apply under the Code and your 403(b) plan. You should consult with your tax adviser before making a withdrawal from your Contract.

You may submit a Written Request for a withdrawal any time prior to the Maturity Date that indicates that the withdrawal should be processed as of the Maturity Date. Solely for purpose of calculating and processing such a withdrawal request, the request will be deemed to have been received on, and the withdrawal amount will be priced according to the accumulation unit value calculated as of, the Maturity Date. Your request must be received at the Home Office on or before the Maturity Date.

**Divorce.** A withdrawal made pursuant to a divorce or separation instrument is subject to the same withdrawal charge provisions as described in "Charges and Deductions—Withdrawal Charge," if permissible under tax law. In addition, the withdrawal will reduce the Contract Value and the death benefit. The withdrawal could have a significant negative impact on the death benefit. Withdrawals pursuant to divorce may have tax consequences, so it is important that you consult a qualified tax adviser.

***Systematic Withdrawals*** 

Before the Maturity Date, you may choose to withdraw a specified dollar amount (at least $100) on a monthly, quarterly, semiannual or annual basis. For example, you may elect to have $500 withdrawn from your Contract Value automatically every month. We will deduct any applicable premium taxes and withdrawal charge. To elect systematic withdrawals, you must have a Contract Value of at least $15,000 and you must make the election on the form we provide. We will surrender Accumulation Units pro rata from all funding options in which you have an interest, unless you instruct us otherwise. You may begin or discontinue systematic withdrawals at any time by notifying us in writing, but you must give at least 30 days' notice to change any systematic withdrawal instructions that are currently in place. We will also terminate the program upon notification of your death in Good Order.

We reserve the right to discontinue offering systematic withdrawals or to assess a processing fee for this service upon 30 days' written notice to Contract Owners. There is currently no additional fee for electing systematic withdrawals.

Each systematic withdrawal is subject to federal income taxes on the taxable portion and may be subject to Contract charges. In addition, a 10% federal penalty tax may be assessed on systematic withdrawals if the Contract Owner is under age 59½. You should consult with your tax adviser regarding the tax consequences of systematic withdrawals.

**Managed Distribution Program.** Under the systematic withdrawal option, you may choose to participate in the Managed Distribution Program. At no cost to you, you may instruct us to calculate and make minimum distributions that may be required by the IRS upon reaching the age at which distributions must begin under federal tax law. (See "Federal Tax Considerations.") These payments will not be subject to the withdrawal charge and will be in lieu of the free withdrawal allowance. No Dollar Cost Averaging will be permitted if you are participating in the Managed Distribution Program. We will also terminate the program upon notification of your death in Good Order.

***Loans*** 

Loans may be available under your Contract. Loans may only be taken against funds allocated or transferred to the Fixed Account. If available, all loan provisions are described in your Contract or loan agreement.

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***Benefits Available Under the Contract***

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**The following table summarizes information about the benefits under the Contract.** The availability of Contract benefits may vary depending on the state through which your Contract is issued or the selling firm through which it is sold. See Appendix D: State and Financial Intermediary Variations.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of** <br> **Benefit**<br>| **Purpose** | **Standard**<br> **or**<br> **Optional**<br>| **Maximum**<br> **Annual Fee**<br>| **Current** <br> **Charges**<br>| **Brief Description of**<br> **Restrictions /** <br> **Limitations**<br>|
| **Dollar Cost** <br> **Averaging** <br> **(DCA)** <br> **Program**<br>| Allows you to <br> systematically transfer a set <br> amount from the Fixed <br> Account to one or more <br> Variable Funding Options <br> on a monthly or quarterly <br> basis<br>| Standard | No Charge | N/A | &nbsp;&nbsp;&nbsp; ●Available only during the <br> accumulation phase<br>●Must have a minimum <br> total Contract Value of <br> $5,000 to enroll<br>●Minimum transfer <br> amount is $100<br>●Fixed Account is <br> currently unavailable for <br> new enrollments<br>●Fixed Account value <br> must not be depleted in <br> less than 12 months from <br> date of enrollment<br>●May only have one DCA <br> program in place at one <br> time<br>|
| **SpecialDollar** <br> **Cost Averaging** <br> **(DCA)** <br> **Program**<br>| Allows you to <br> systematically make level <br> transfers from the Fixed <br> Account to one or more <br> Variable Funding Options <br> over a 6-month or <br> 12-month duration<br>| Standard | No Charge | N/A | &nbsp;&nbsp;&nbsp; ●Available only during the <br> accumulation phase<br>●Currently available for <br> new enrollments<br>●Only new Purchase <br> Payments may be <br> allocated to the program <br>●Must have a minimum <br> total Contract Value of <br> $5,000 to enroll<br>●Minimum transfer <br> amount is $100<br>●May only have one DCA <br> program in place at one <br> time<br>●Interest rates credited on <br> amounts in the Fixed <br> Account may differ for <br> 6-month or 12-month <br> durations<br>●Not available in Oregon |
| **Automatic** <br> **Rebalancing** <br> **Program**<br>| Allows you to <br> automatically rebalance <br> your Contract Value to <br> return to your original <br> percentage allocations<br>| Standard | No Charge | N/A | &nbsp;&nbsp;&nbsp; ●Available only during the <br> accumulation phase<br>●Fixed Account is not <br> available for automatic <br> rebalancing<br>|

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|:---|:---|:---|:---|:---|:---|
| **Name of** <br> **Benefit**<br>| **Purpose** | **Standard**<br> **or**<br> **Optional**<br>| **Maximum**<br> **Annual Fee**<br>| **Current** <br> **Charges**<br>| **Brief Description of**<br> **Restrictions /** <br> **Limitations**<br>|
| **Systematic** <br> **Withdrawal** <br> **Program**<br>| Allows you to receive <br> regular automatic <br> withdrawals from your <br> Contract<br>| Standard | No Charge | N/A | &nbsp;&nbsp;&nbsp; ●Each payment must be at <br> least $100<br>●Withdrawals may only <br> be on a monthly, <br> quarterly, semi-annual, <br> or annual basis<br>●Must have a minimum <br> total Contract Value of <br> $15,000 to enroll<br>●Must provide at least <br> 30 days' written notice <br> to change instructions<br>●Upon 30-day written <br> notice, we may <br> discontinue this feature <br> at any time<br>●We reserve the right to <br> charge a processing fee <br> in the future (if we do <br> so, we will inform you in <br> writing 30 days in <br> advance)<br>|
| **Managed** <br> **Distribution** <br> **Program**<br>| Allows you to <br> automatically take <br> minimum distributions <br> from your Contract that <br> may be required by the IRS<br>| Standard | No Charge | N/A | &nbsp;&nbsp;&nbsp; ●Payments will not be <br> subject to the <br> withdrawal charge and <br> will be in lieu of the free <br> withdrawal allowance<br>●Cannot also enroll in <br> dollar cost averaging<br>|
| **Nursing Home** <br> **Confinement** <br> **Rider**<br>| Allows you to withdraw <br> Contract Value without a <br> withdrawal charge<br>| Standard | No Charge | N/A | &nbsp;&nbsp;&nbsp; ●Must own Contract for at <br> least one year<br>●You or your joint owner <br> must be confined for at <br> least 90 days<br>●Confinement must be <br> prescribed by a <br> physician and be <br> medically necessary<br>●Terminates on Maturity <br> Date<br>●Not available for <br> Contract Owners 71 or <br> older on the Contract <br> issue date<br>|
| **Death Benefit** | Provides a death benefit at <br> least equal to the Contract <br> Value to Your <br> Beneficiary(ies) if You die <br> during the Accumulation <br> Period<br>| Standard | No Charge | N/A | &nbsp;&nbsp;&nbsp; ●Amount payable <br> depends on multiple <br> factors, such as type of <br> Contract, age at time of <br> death, Contract Value, <br> total Purchase Payments, <br>and prior withdrawals●Withdrawals may <br> significantly reduce the <br> benefit<br>|

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of** <br> **Benefit**<br>| **Purpose** | **Standard**<br> **or**<br> **Optional**<br>| **Maximum**<br> **Annual Fee**<br>| **Current** <br> **Charges**<br>| **Brief Description of**<br> **Restrictions /** <br> **Limitations**<br>|
| **Enhanced** <br> **Stepped-Up** <br> **Provision**<br>| Provides an additional <br> death benefit based on a <br> percentage of (a) 250% of <br> modified Purchase <br> Payments or (b) Contract <br> Value minus modified <br> Purchase Payments, <br> whichever is less<br>| Optional | 0.25% (as a <br> percentage of <br> the average <br> daily net <br> assets of the <br> Separate <br> Account)<br>| 0.25% (as a <br> percentage of <br> the average <br> daily net <br> assets of the <br> Separate <br> Account)<br>| &nbsp;&nbsp;&nbsp; ●No longer available<br> ●Withdrawals may <br> proportionately reduce <br> the benefit, and such <br> reductions could be <br> significant<br>●Percentage used to <br> calculate additional <br> death benefit is 40% for <br> Annuitant younger than <br> age 70, or 25% for <br> Annuitant age 70-75, on <br> rider effective date<br>|
| **Variable** <br> **Liquidity** <br> **Benefit**<br>| Provides liquidity during <br> the annuity period by <br> allowing withdrawals <br> based on the present value <br> of your remaining Annuity <br> Payments<br>| Optional | 8% upon <br> exercise (as a <br> percentage of <br> the present <br> value of the <br> remaining <br> Annuity <br> Payments <br> that are <br> surrendered)<br>| 8% upon <br> exercise, <br> declining to <br> 0% over <br> 9 years (as a <br> percentage of <br> the present <br> value of the <br> remaining <br> Annuity <br> Payments <br> that are <br> surrendered)<br>| &nbsp;&nbsp;&nbsp; ●Only offered in <br> connection with the <br> annuity option <br> "Payments for a Fixed <br> Period without Life <br> Contingency"<br>●Withdrawals may <br> significantly reduce or <br> eliminate remaining <br> Annuity Payments<br>|

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Each of these benefits are discussed more fully, as follows: the DCA programs and Automatic Rebalancing Program are discussed in the prospectus section entitled "Transfers;" the Systematic Withdrawal Program and Managed Distribution Program are discussed in the prospectus section entitled "Access to Your Money;" the Nursing Home Confinement Rider is discussed in Appendix C to this prospectus; the Death Benefit is discussed in the prospectus section entitled "Death Benefit;" and the Variable Liquidity Benefit is discussed in the prospectus section entitled "Payment Options."

***Ownership Provisions***

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***Types of Ownership*** 

***Contract Owner*** 

The Contract belongs to the Contract Owner named in the Contract (on the Contract Specifications page), or to any other person to whom you subsequently assign the Contract. You may only make an assignment of ownership or a collateral assignment for Non-qualified Contracts. You have sole power during the Annuitant's lifetime to exercise any rights and to receive all benefits given in the Contract provided you have not named an irrevocable beneficiary and provided you have not assigned the Contract.

You receive all payments while the Annuitant is alive unless you direct them to an alternate recipient. An alternate recipient does not become the Contract Owner.

If this Contract is purchased by a beneficiary of another contract who directly transferred the death proceeds due under that contract, he/she will be granted the same rights the owner has under the Contract except that he/she cannot transfer ownership, take a loan or make additional Purchase Payments.

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<u>Joint Owner.</u> For Non-qualified Contracts only, you may name joint owners (e.g., spouses) in a Written Request before the Contract is in effect. Joint owners may independently exercise transfers allowed under the Contract. All other rights of ownership must be exercised by both owners. Joint owners own equal shares of any benefits accruing or payments made to them.

***Beneficiary*** 

You name the beneficiary in a Written Request. The beneficiary has the right to receive any death benefit proceeds remaining under the Contract upon the death of the Annuitant or the Contract Owner. If more than one beneficiary survives the Annuitant or Contract Owner, they will share equally in benefits unless you recorded different shares with the Company by Written Request before the death of the Annuitant or Contract Owner. In the case of a non-spousal beneficiary or a spousal beneficiary who has not chosen to assume the Contract, we will not transfer or otherwise remove the death benefit proceeds from either the Variable Funding Options or the Fixed Account, as most recently elected by the Contract Owner, until the Death Report Date.

Unless you have named an irrevocable beneficiary you have the right to change any beneficiary by Written Request during the lifetime of the Annuitant and while the Contract continues.

***Abandoned Property Requirements***

Every state has unclaimed property laws which generally declare non-ERISA annuity contracts to be abandoned after a period of inactivity of three to five years from the contract's maturity date (the latest day on which Annuity Payments may begin under the Contract) or the date the death benefit is due and payable, or such other date as required by state law. Contracts purchased through certain qualified plans, including IRAs and Roth IRAs, may be subject to special or additional abandoned property rules under state law. For example, if the payment of a death benefit has been triggered, but, if after a thorough search, we are still unable to locate the beneficiary of the death benefit, or the beneficiary does not come forward to claim the death benefit in a timely manner, the death benefit will be paid to the abandoned property division or unclaimed property office of the state in which the beneficiary of the Contract Owner last resided, as shown on our books and records, or to our state of domicile. (Escheatment is the formal, legal name of this process.) However, the state is obligated to pay the death benefit (without interest) if your beneficiary steps forward to claim it with the proper documentation. To prevent your Contract's proceeds from being paid to the state abandoned or unclaimed property office, it is important that you update your beneficiary designations, including addresses, if and as they change. Please call (833) 208-3018 to make such changes.

***Annuitant*** 

The Annuitant is designated in the Contract (on the Contract Specifications page), and is the individual on whose life the Maturity Date and the amount of the monthly Annuity Payments depend. You may not change the Annuitant after your Contract is in effect.

<u>Contingent Annuitant.</u> You may name one individual as a Contingent Annuitant. A Contingent Annuitant may not be changed, deleted or added to the Contract after the Contract Date. If the Annuitant who is not the owner dies prior to the Maturity Date, and the Contingent Annuitant is still living:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the death benefit will not be payable upon the Annuitant's death

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the Contingent Annuitant becomes the Annuitant

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• all other rights and benefits will continue in effect

When a Contingent Annuitant becomes the Annuitant, the Maturity Date remains the same as previously in effect.

If the Annuitant is also the owner, a death benefit is paid to the beneficiary regardless of whether or not there is a Contingent Annuitant.

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***Death Benefit***

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Before the Maturity Date, generally, a death benefit is payable when either the Annuitant or a Contract Owner dies. We calculate the death benefit at the close of the business day on which our Home Office receives (1) Due Proof of Death and (2) written payment instructions or election of spousal or beneficiary contract continuance ("Death Report Date"). Any applicable premium tax, outstanding loans or withdrawals not previously deducted will be subtracted from any death benefit values.

NOTE: If the owner dies before the Annuitant, the death benefit is recalculated, replacing all references to "Annuitant" with "owner."

***Death Proceeds before the Maturity Date*** 

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| | | |
|:---|:---|:---|
| **Age on Contract Date** | **Death Benefit** | **Death Benefit** |
| &nbsp;&nbsp;&nbsp;&nbsp; If the Annuitant was younger than age 75 on the <br> Contract Date, the death benefit will be the <br> greatest of:<br>| •  | the Contract Value on the Death Report Date |
|  | •  | &nbsp;&nbsp; the total Purchase Payments made under the Contract, less <br> the total amount of any withdrawals or<br>|
|  | •  | the step-up value, if any, as described below. |
| &nbsp;&nbsp;&nbsp;&nbsp; If the Annuitant was between the age of 75 and <br> 80 on the Contract Date, the death benefit will <br> be the greater of:<br>| •  | the Contract Value on the Death Report Date or |
|  | •  | &nbsp;&nbsp; total Purchase Payments made under the Contract less the <br> total amount of any withdrawals<br>|

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**Where the Annuitant was younger than age 75 on the Contract Date.** The step-up value will initially equal the Contract Value on the first Contract Date. On each subsequent Contract Date anniversary that occurs before the Annuitant's 76<sup>th</sup> birthday and before the Annuitant's death, if the Contract Value is greater than the step-up value, the step-up value will be increased to equal the Contract Value on that date. If the step-up value is greater than the Contract Value, the step-up value will remain unchanged. Whenever a Purchase Payment is made, the step-up value will be increased by the amount of that Purchase Payment. Whenever a withdrawal is taken, the step-up value will be reduced by a partial surrender reduction as described below. The only changes made to the step-up value on or after the Annuitant's 76<sup>th</sup> birthday will be those related to additional Purchase Payments or partial withdrawals as described above.

**Partial Surrender Reduction.** If you make a withdrawal we will reduce the step-up value by a partial surrender reduction which equals (1) the step-up value prior to the withdrawal, multiplied by (2) the amount of the partial surrender, divided by (3) the Contract Value before the surrender.

For example, assume your current Contract Value is $55,000. If your current step-up value is $50,000, and you decide to make a withdrawal of $10,000, we would reduce the step-up value as follows:

50,000 × (10,000/55,000) = $9,090

Your new step-up value would be 50,000 – 9,090, or $40,910.

The following example shows what would happen in a declining market. Assume your current Contract Value is $30,000. If your current step-up value is $50,000, and you decide to make a partial withdrawal of $10,000, we would reduce the step-up value as follows:

50,000 × (10,000/30,000) = $16,666

Your new step-up value would be 50,000 – 16,666, or $33,334.

***Enhanced Stepped-Up Provision ("E.S.P.")*** 

**This provision is not available to a customer when either the Annuitant or owner is age 76 or older on the rider effective date.** 

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The rider effective date is the date the rider is attached to and made a part of the Contract. If you have selected the E.S.P., the total death benefit as of the Death Report Date will equal the death benefit described above plus the greater of zero or the following amount:

**If the Annuitant is younger than age 70 on the rider effective date, 40% of the lesser of**: (1) 250% of the modified Purchase Payments excluding Purchase Payments that are both received after the first rider effective date anniversary and within 12 months of the Death Report Date, or (2) your Contract Value minus the modified Purchase Payments, calculated as of the Death Report Date; or

**If the Annuitant is between the ages of 70 and 75 on the rider effective date, 25% of the lesser of:** (1) 250% of the modified Purchase Payments excluding Purchase Payments that are both received after the first rider effective date anniversary and within 12 months of the Death Report Date, or (2) your Contract Value minus the modified Purchase Payments, calculated as of the Death Report Date.

**The initial modified Purchase Payment** is equal to the Contract Value as of the rider effective date. Whenever a Purchase Payment is made after the rider effective date, the modified Purchase Payment(s) are increased by the amount of the Purchase Payment. Whenever a partial surrender is taken after the rider effective date, the modified Purchase Payment(s) are reduced by a partial surrender reduction as described below.

**The partial surrender reduction is equal to:** (1) the modified Purchase Payment(s) in effect immediately prior to the reduction for the partial surrender, multiplied by (2) the amount of the partial surrender divided by (3) the Contract Value immediately prior to the partial surrender.

For example, assume your current modified Purchase Payment is $50,000 and that your current Contract Value is $55,000. You decide to make a withdrawal of $10,000. We would reduce the modified Purchase Payment as follows:

50,000 × (10,000/55,000) = $9,090

Your new modified Purchase Payment would be $50,000 – $9,090 = $40,910

The following example shows what would happen in a declining market. Assume your current Contract Value is $30,000. If your current modified Purchase Payment is $50,000 and you decide to make a withdrawal of $10,000, we would reduce the modified Purchase Payment as follows:

50,000 × (10,000/30,000) = $16,666

Your new modified Purchase Payment would be 50,000 – 16,666 = $33,334

***Payment of Proceeds*** 

We describe the process of paying death benefit proceeds before the Maturity Date in the charts below. The charts do not encompass every situation and are merely intended as a general guide. More detailed information is provided in your Contract. Generally, the person(s) receiving the benefit may request that the proceeds be paid in a lump sum, or be applied to one of the settlement options available under the Contract.

**Non-qualified Contracts** 

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp; **Before the**<br> **Maturity Date, upon**<br> **the Death of the**<br>| &nbsp;&nbsp; **The Company Will**<br> **Pay the Proceeds**<br> **to:**<br>| **unless. . .** | &nbsp;&nbsp; **Mandatory Payout**<br> **Rules Apply\***<br>|
| &nbsp;&nbsp; **Owner (who is not the** <br> **Annuitant) (with no joint** <br> **owner)**<br>| &nbsp;&nbsp; The beneficiary (ies), or if <br> none, to the Contract <br> Owner's estate.<br>| &nbsp;&nbsp; The beneficiary elects to <br> continue the Contract rather <br> than receive a lump sum <br> distribution.<br>| Yes |
| &nbsp;&nbsp; **Owner (who is the** <br> **Annuitant) (with no joint** <br> **owner)**<br>| &nbsp;&nbsp; The beneficiary (ies), or if <br> none, to the Contract <br> Owner's estate.<br>| &nbsp;&nbsp; The beneficiary elects to <br> continue the Contract rather <br> than receive a lump sum <br> distribution.<br>| Yes |
| &nbsp;&nbsp; **Non-spousal Joint Owner** <br> **(who is not the Annuitant)**<br>| The surviving joint owner. |  | Yes |

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp; **Before the**<br> **Maturity Date, upon**<br> **the Death of the**<br>| &nbsp;&nbsp; **The Company Will**<br> **Pay the Proceeds**<br> **to:**<br>| **unless. . .** | &nbsp;&nbsp; **Mandatory Payout**<br> **Rules Apply\***<br>|
| &nbsp;&nbsp; **Non-spousal Joint Owner** <br> **(who is the Annuitant)**<br>| &nbsp;&nbsp; The beneficiary (ies), or, if <br> none, to the Contract <br> Owner's estate.<br>| &nbsp;&nbsp; The beneficiary elects to <br> continue the Contract rather <br> than receive a lump sum <br> distribution.<br>| Yes |
| &nbsp;&nbsp; **Spousal Joint Owner (who** <br> **is not the Annuitant)**<br>| The surviving joint owner. | &nbsp;&nbsp; The spouse elects to continue <br> the Contract.<br>| Yes |
| &nbsp;&nbsp; **Spousal Joint Owner (who** <br> **is the Annuitant)**<br>| &nbsp;&nbsp; The beneficiary (ies), or, if <br> none, to the surviving joint <br> owner.<br>| &nbsp;&nbsp; The spouse elects to continue <br> the Contract.<br>A spouse who is not the <br> beneficiary may decline to <br> continue the Contract and <br> instruct the Company to pay the <br> beneficiary.<br>| Yes |
| &nbsp;&nbsp; **Annuitant (who is not the** <br> **Contract Owner)**<br>| &nbsp;&nbsp; The beneficiary (ies), or if <br> none, to the Contract <br> Owner.<br>| &nbsp;&nbsp; The beneficiary elects to <br> continue the Contract rather <br> than receive a lump sum <br> distribution.<br>But, if there is a Contingent <br> Annuitant, then the Contingent <br> Annuitant becomes the <br> Annuitant and the Contract <br> continues in effect (generally <br> using the original Maturity <br> Date). The proceeds will then be <br> paid upon the death of the <br> Contingent Annuitant or owner.<br>| Yes |
| &nbsp;&nbsp; **Annuitant (who is the** <br> **Contract Owner)**<br>| &nbsp;&nbsp; See death of "owner who is <br> the Annuitant" above.<br>|  | Yes |
| &nbsp;&nbsp; **Annuitant (where owner is** <br> **a non-natural entity/trust)**<br>| &nbsp;&nbsp; The beneficiary (ies), or if <br> none, to the owner.<br>|  | &nbsp;&nbsp; Yes (Death of <br> Annuitant is treated <br> as death of the <br> owner in these <br> circumstances.)<br>|
| &nbsp;&nbsp; **Contingent Annuitant** <br> **(assuming Annuitant is still** <br> **alive)**<br>| &nbsp;&nbsp; No death proceeds are <br> payable; Contract <br> continues.<br>|  | N/A |
| **Beneficiary** | &nbsp;&nbsp; No death proceeds are <br> payable; Contract <br> continues.<br>|  | N/A |
| **Contingent Beneficiary** | &nbsp;&nbsp; No death proceeds are <br> payable; Contract <br> continues.<br>|  | N/A |

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**Qualified Contracts** 

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|:---|:---|:---|:---|
| &nbsp;&nbsp; **Before the**<br> **Maturity Date, upon**<br> **the Death of the**<br>| &nbsp;&nbsp; **The Company Will**<br> **Pay the Proceeds**<br> **to:**<br>| **unless. . .** | &nbsp;&nbsp; **Mandatory Payout**<br> **Rules Apply (See**<br> **Above)**<br>|
| **Owner /Annuitant** | &nbsp;&nbsp; The beneficiary (ies), or if <br> none, to the Contract <br> Owner's estate.<br>| &nbsp;&nbsp; The beneficiary elects to <br> continue the Contract rather <br> than receive a lump sum <br> distribution.<br>| Yes |
| **Beneficiary** | &nbsp;&nbsp; No death proceeds are <br> payable; Contract <br> continues.<br>|  | N/A |
| **Contingent Beneficiary** | &nbsp;&nbsp; No death proceeds are <br> payable; Contract <br> continues.<br>|  | N/A |

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Certain payout rules of the Code are triggered upon the death of any Owner. Non-spousal beneficiaries (as well as spousal beneficiaries who choose not to assume the Contract) must begin taking distributions based on the beneficiary's life expectancy within one year of death or take a complete distribution of Contract proceeds within 5 years of death. Spousal Beneficiaries must choose to continue the Contract as allowed under the Spousal Contract Continuance provision described below within one year of death. For Qualified Contracts, if mandatory distributions have already begun at the death of the Annuitant, the 5-year payout option is not available.

***Spousal Contract Continuance (subject to availability — does not apply if a non-spouse is a joint owner)*** 

Within one year of your death, if your spouse is named as an owner and/or beneficiary, and you die before the Maturity Date, your spouse may elect to continue the Contract as owner rather than have the death benefit paid to the beneficiary. If you were the Annuitant and your spouse elects to continue the Contract, your spouse will be named the Annuitant as of the Death Report Date.

If your spouse elects to continue the Contract as Contract Owner, the death benefit will be calculated as of the Death Report Date. If the Contract Value is less than the calculated death benefit, the Contract Value will be increased to equal the death benefit. This amount is referred to as the adjusted Contract Value. Any difference between the Contract Value and the adjusted Contract Value will be allocated to the funding options in the same proportion as the allocations of the Contract prior to the Death Report Date.

The terms and conditions that applied to the original Contract (including Contract fees and charges) will also apply to the continued Contract, with certain exceptions described in the Contract. Any Purchase Payment and associated credits made before the Death Report Date is no longer subject to a withdrawal charge if your spouse elects to continue the Contract. Purchase Payments and any associated credits made to the Contract <u>after</u> the Death Report Date will be subject to the withdrawal charge. All other benefits and features of your Contract will be based on your spouse's age on the Death Report Date as if your spouse had purchased the Contract with the adjusted Contract Value on the Death Report Date. This spousal contract continuance is available only once for each Contract. For purposes of the death benefit on the continued Contract, the death benefit will be calculated the same as prior to continuance except all values used to calculate the death benefit, which may include a Step-Up Value or Roll-Up Death Benefit Value (depending on the optional benefit), are reset on the date the spouse continues the contract.

Spousal continuation will not satisfy required minimum distribution rules for Qualified Contracts other than IRAs. In addition, because the contract proceeds must be distributed within the time periods required by the federal Internal Revenue Code, the right of a spouse to continue the contract, and all contract provisions relating to spousal continuation, are available only to a person who is defined as a "spouse" under applicable federal law.

Under the Internal Revenue Code ("Code"), spousal continuation and certain distribution options are available only to a person who is defined as a "spouse" under applicable federal law. All Contract provisions will be interpreted and administered in accordance with the requirements of the Code. Therefore, under current federal law, a purchaser who has or is contemplating a civil union, registered domestic partnership, or other similar formal relationship not denominated as a marriage under applicable law, should note that certain favorable tax treatment afforded to a spouse under federal tax law and certain provisions under the Contract applicable only to a spouse would not be available. For example, individuals who are not a spouse would not be able to receive continued payments after the death of the

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contract owner under the Joint Life version of the GMWB for Life (the "Living Income Guarantee for 2"). Individuals who have purchased, or are considering the purchase, of annuity products that provide benefits based upon status as a spouse should consult a qualified tax adviser.

***Beneficiary Contract Continuance (not permitted for non-natural beneficiaries)*** 

If you die before the Maturity Date, and if the value of any beneficiary's portion of the death benefit is between $20,000 and $1,000,000 as of the Death Report Date, (more than $1,000,000 is subject to Home Office approval), your beneficiary(ies) may elect to continue his/her portion of the Contract subject to applicable Internal Revenue Code distribution requirements, rather than receive the death benefit in a lump sum. If the beneficiary chooses to continue the Contract, the beneficiary can extend the payout phase of the Contract enabling the beneficiary to extend the annuity period of the Contract and the payment of the death benefit distributions out over his life expectancy (*i.e.*, "stretch") as permitted by the Internal Revenue Code.

If your beneficiary elects to continue the Contract, the death benefit will be calculated as of the Death Report Date. The initial Contract Value of the continued Contract (the "adjusted Contract Value") will equal the greater of the Contract Value or the death benefit calculated on the Death Report Date and will be allocated to the funding options in the same proportion as prior to the Death Report Date. If the adjusted Contract Value is allocated to the Variable Funding Options, the beneficiary bears the investment risk.

The beneficiary who continues the Contract will be granted the same rights as the owner under the original Contract, except the beneficiary cannot:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• transfer ownership

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• take a loan

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• make additional Purchase Payments

The beneficiary may also name his/her own beneficiary ("succeeding beneficiary") and has the right to take withdrawals at any time after the Death Report Date without a withdrawal charge. The E.S.P. option is not available to a beneficiary continuing the Contract under this provision. All other fees and charges applicable to the original Contract will also apply to the continued Contract; the E.S.P. charge no longer applies. All benefits and features of the continued Contract will be based on the beneficiary's age on the Death Report Date as if the beneficiary had purchased the Contract with the adjusted Contract Value on the Death Report Date.

***Planned Death Benefit*** 

You may request that rather than receive a lump-sum death benefit, the beneficiary(ies) receive all or a portion of the death benefit proceeds either:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• as a variable or fixed annuity for life or a period that does not exceed the beneficiary's life expectancy, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• under the terms of the Beneficiary Continuance provision described above. If the Beneficiary Continuance provision is selected as a planned death benefit, no surrenders will be allowed other than payments meant to satisfy minimum distribution amounts or systematic withdrawal amounts, if greater.

You must make the planned death benefit request as well as any revocation of this request in writing. Upon your death, your beneficiary(ies) cannot revoke or modify this request. If the death benefit at the time we receive Due Proof of Death is less than $2,000, we will only pay a lump sum to the beneficiary. If periodic payments due under the planned death benefit election are less than $100, we reserve the right to make Annuity Payments at less frequent intervals, resulting in a payment of at least $100 per year. If no beneficiary is alive when death benefits become payable, we will pay the death benefit as provided in your Contract.

***Death Proceeds after the Maturity Date*** 

If any Contract Owner or the Annuitant dies on or after the Maturity Date, the Company will pay the beneficiary a death benefit consisting of any benefit remaining under the annuity option then in effect.

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***Notification of Death Prior to the Completion of a Requested Transaction*** 

If we are presented in Good Order with notification of your death before any requested transaction is completed (including transactions under automated investment strategies and automated withdrawal programs), we will cancel the request. As described above, the death benefit will be determined when we receive both Due Proof of Death and written payment instructions or election of spousal contract continuance or beneficiary contract continuance.

***Death Proceeds under 403(b) Contracts*** 

If your Contract was issued in connection with a 403(b) plan, your beneficiary may elect to have the Contract's death proceeds paid through an account called the Total Control Account at the time for payment. The Total Control Account is an interest-bearing account through which the beneficiary has complete access to the proceeds, with unlimited check writing privileges. We credit interest to the account at a rate that will not be less than a minimum guaranteed rate.

Assets backing the Total Control Accounts are maintained in our general account and are subject to the claims of our creditors. We will bear the investment experience of such assets; however, regardless of the investment experience of such assets, the interest credited to the Total Control Account will never fall below the applicable guaranteed minimum rate. Because we bear the investment experience of the assets backing the Total Control Accounts, we may receive a profit from these assets. The Total Control Account is not insured by the FDIC or any other governmental agency.

***The Annuity Period***

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***Maturity Date*** 

Under the Contract, you can receive regular payments ("Annuity Payments"). You can choose the month and the year in which those payments begin ("Maturity Date"). You can also choose among payout options or elect a lump sum distribution. While the Annuitant is alive, you can change your selection any time up to the Maturity Date. Annuity Payments will begin on the Maturity Date stated in the Contract unless (1) you fully surrendered the Contract; (2) we paid the proceeds to the beneficiary before that date; or (3) you elected another date. Annuity Payments are a series of periodic payments (a) for life; (b) for life with a minimum number of payments assured; (c) for the joint lifetime of the Annuitant and another person, and thereafter during the lifetime of the survivor; or (d) for a fixed period. We may require proof that the Annuitant is alive before we make Annuity Payments. Please be aware that once the Contract is annuitized, you are ineligible to receive the death benefit you have selected.

You may choose to annuitize at any time after the first Contract Date anniversary. Unless you elect otherwise, the Maturity Date will be the Annuitant's 90th birthday or ten years after the effective date of the Contract, if later (this requirement may be changed by us).

At least 30 days before the original Maturity Date, you may elect to extend the Maturity Date to any time prior to the Annuitant's 90th birthday or to a later date with our consent. You may use certain annuity options taken at the Maturity Date to meet the minimum required distribution requirements of federal tax law, or you may use a program of withdrawals instead. These mandatory distribution requirements take effect generally upon the death of the Contract Owner, or with certain Qualified Contracts upon either the later of the Contract Owner's attainment of age 70½ or year of retirement; or the death of the Contract Owner. You should seek independent tax advice regarding the election of minimum required distributions.

***Allocation of Annuity*** 

You may elect to receive your Annuity Payments in the form of a variable annuity, a fixed annuity, or a combination of both. If, at the time Annuity Payments begin, you have not made an election, we will apply your Cash Surrender Value to provide an annuity funded by the same funding options as you have selected during the accumulation period. At least 30 days before the Maturity Date, you may transfer the Contract Value among the funding options in order to change the basis on which we will determine Annuity Payments. (See "Transfers.")

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***Variable Annuity*** 

You may choose an annuity payout that fluctuates depending on the investment experience of the Variable Funding Options. We determine the number of Annuity Units credited to the Contract by dividing the first monthly Annuity Payment attributable to each Variable Funding Option by the corresponding Accumulation Unit value as of 14 days before the date Annuity Payments begin. We use an Annuity Unit to measure the dollar value of an Annuity Payment. The number of Annuity Units (but not their value) remains fixed during the annuity period.

**Determination of First Annuity Payment.** Your Contract contains the tables we use to determine your first monthly Annuity Payment. If you were issued a Contract with sex-distinct annuity rates prior to the time that state law mandated unisex annuity rates (if applicable in your state), the annuity rates we use will not be less than the guaranteed sex-distinct rates in the Contract when issued. If you elect a variable annuity, the amount we apply to it will be the Cash Surrender Value as of 14 days before the date Annuity Payments begin, less any applicable premium taxes not previously deducted.

The amount of your first monthly payment depends on the annuity option you elected and the Annuitant's adjusted age. Your Contract contains the formula for determining the adjusted age. We determine the total first monthly Annuity Payment by multiplying the benefit per $1,000 of value shown in the Contract tables by the number of thousands of dollars of Contract Value you apply to that annuity option. The Contract tables factor in an assumed daily net investment factor of 3.0%. We call this your net investment rate. Your net investment rate of 3% corresponds to an annual interest rate of 3%. This means that if the annualized investment performance, after expenses, of your Variable Funding Options is less than 3%, then the dollar amount of your variable Annuity Payments will decrease. However, if the annualized investment performance, after expenses, of your Variable Funding Options is greater than 3%, then the dollar amount of your variable Annuity Payments will increase.

**Determination of Second and Subsequent Annuity Payments.** The dollar amount of all subsequent Annuity Payments changes from month to month based on the investment experience, as described above, of the applicable funding options. The total amount of each Annuity Payment will equal the sum of the basic payments in each funding option. We determine the actual amounts of these payments by multiplying the number of Annuity Units we credited to each funding option by the corresponding Annuity Unit value as of the date 14 days before the date the payment is due.

***Fixed Annuity*** 

You may choose a fixed annuity that provides payments that do not vary during the annuity period. We will calculate the dollar amount of the first fixed Annuity Payment as described under "Variable Annuity," except that the amount we apply to begin the annuity will be your Cash Surrender Value as of the date Annuity Payments begin. Payout rates will not be lower than that shown in the Contract. If it would produce a larger payment, the first fixed Annuity Payment will be determined using the Annuity Tables in effect on the Maturity Date.

***Payment Options***

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***Election of Options*** 

While the Annuitant is alive, you can change your annuity option selection any time up to the Maturity Date. Once Annuity Payments have begun, no further elections are allowed.

During the Annuitant's lifetime, if you do not elect otherwise before the Maturity Date, we will pay you (or another designated payee) the first of a series of monthly Annuity Payments based on the life of the Annuitant, in accordance with Annuity Option 2 (Life Annuity with 120 monthly payments assured). For certain Qualified Contracts, Annuity Option 4 (Joint and Last Survivor Life Annuity — Annuity Reduced on Death of Primary Payee) will be the automatic option as described in the Contract. (See "Annuity Options.") Due to underwriting, administrative or Internal Revenue Code considerations, there may be limitations on payments to a survivor under Options 3, 4 and 6 and/or the duration of the guarantee period under Options 2, 5 and 6.

The minimum amount that can be placed under an annuity option will be $2,000 unless we agree to a lesser amount. If any monthly periodic payment due is less than $100, the Company reserves the right to make payments at less frequent intervals, or to pay the Contract Value in a lump-sum.

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On the Maturity Date, we will pay the amount due under the Contract in accordance with the payment option that you select. You may choose to receive a single lump-sum payment. You must elect an option in writing, in a form satisfactory to the Company. Any election made during the lifetime of the Annuitant must be made by the Contract Owner.

***Annuity Options*** 

Subject to the conditions described in "Election of Options" above, we may pay all or any part of the Cash Surrender Value under one or more of the following annuity options. Payments under the annuity options are generally made on a monthly basis. We may offer additional options.

Option 1 — Life Annuity — No Refund. The Company will make Annuity Payments during the lifetime of the Annuitant ending with the last payment before death. This option offers the maximum periodic payment, since there is no assurance of a minimum number of payments or provision for a death benefit for beneficiaries.

Option 2 — Life Annuity with 120, 180 or 240 Monthly Payments Assured. The Company will make monthly Annuity Payments during the lifetime of the Annuitant, with the agreement that if, at the death of that person, payments have been made for less than 120, 180 or 240 months, as elected, we will continue making payments to the beneficiary during the remainder of the period.

Option 3 — Joint and Last Survivor Life Annuity — No Refund. The Company will make regular Annuity Payments during the lifetime of the Annuitant and a second person. When either person dies, we will continue making payments to the survivor. No further payments will be made following the death of the survivor.

Option 4 — Joint and Last Survivor Life Annuity — Annuity Reduced on Death of Primary Payee. The Company will make Annuity Payments during the lifetimes of the Annuitant and a second person. You will designate one as primary payee, and the other will be designated as secondary payee. On the death of the secondary payee, the Company will continue to make monthly Annuity Payments to the primary payee in the same amount that would have been payable during the joint lifetime of the two persons. On the death of the primary payee, the Company will continue to make Annuity Payments to the secondary payee in an amount equal to 50% of the payments, which would have been made during the lifetime of the primary payee. No further payments will be made once both payees have died.

Option 5 — Payments for a Fixed Period without Life Contingency. We will make periodic payments for the period selected. This option may not satisfy the minimum required distribution rules for Qualified Contracts. Consult a tax adviser before electing this option.

Option 6 — Other Annuity Options. We will make any other arrangements for Annuity Payments as may be mutually agreed upon.

The amount of any annuity payments will depend on the amount applied to purchase the annuity and the applicable annuity rates. The amount of each annuity payment will be less with a greater frequency of payments (if frequency choices other than monthly are available) and/or with a longer "certain" payment periods and/or with payments with life contingencies.

***Variable Liquidity Benefit*** 

This benefit is only offered with the annuity option "Payments for a Fixed Period without Life Contingency."

At any time after annuitization and before death, the Contract Owner may surrender and receive a payment equal to (A) minus (B), where (A) equals the present value of remaining period certain payments, and (B) equals a withdrawal charge not to exceed the maximum withdrawal charge rate shown on the specifications page of the Contract multiplied by (A). The interest rate used to calculate the present value is a rate 1% higher than the Assumed (Daily) Net Investment Factor used to calculate the Annuity Payments. The remaining period certain payments are assumed to be level payments equal to the most recent period certain payment prior to the request for this liquidity benefit. A withdrawal charge is not imposed if the surrender is made after the expiration of the withdrawal charge period shown on the specifications page of the Contract.

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***Miscellaneous Contract Provisions***

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***Right to Return*** 

You may return the Contract for a full refund of the Contract Value plus any Contract charges and premium taxes you paid (but not any fees and charges the Underlying Fund assessed) within twenty days after you receive it (the "right to return period"). You bear the investment risk of investing in the Variable Funding Options during the right to return period; therefore, the Contract Value we return may be greater or less than your Purchase Payment.

If you purchase the Contract as an Individual Retirement Annuity, and return it within the first seven days after delivery, or longer if your state law permits, we will refund your Purchase Payment in full; during the remainder of the right to return period, we will refund the Contract Value (including charges) .

We will determine the Contract Value following the close of the business day on which we receive your Contract and a Written Request for a refund. Where state law requires a different period, or the return of Purchase Payments or other variations of this provision, we will comply. Refer to your Contract for any state-specific information.

***Termination*** 

We reserve the right to terminate the Contract on any business day if your Contract Value as of that date is less than $2,000 and you have not made Purchase Payments for at least two years. Accordingly, no Contract will be terminated due solely to negative investment performance. Termination will not occur until 31 days after we have mailed notice of termination to your last known address and to any assignee of record. If we terminate the Contract, we will pay you the Cash Surrender Value less any applicable taxes. In certain states, we may be required to pay you the Contract Value. Federal tax law may impose additional restrictions on our right to terminate your traditional IRA, Roth IRA or other Qualified Contract.

In addition, we will not terminate any Contract that includes a Guaranteed Minimum Withdrawal Benefit or a guaranteed death benefit if at the time the termination would otherwise occur the benefit base of the rider or the guaranteed amount under any death benefit is greater than the Contract Value. For all other Contracts, we reserve the right to exercise this termination provision, subject to obtaining any required regulatory approvals.

***Required Reports*** 

As often as required by law, but at least once in each Contract Year before the due date of the first Annuity Payment, we will furnish a report showing the number of Accumulation Units credited to the Contract and the corresponding Accumulation Unit value(s) as of the report date for each funding option to which the Contract Owner has allocated amounts during the applicable period. The Company will keep all records required under federal and state laws.

***Postponement of Payment (the "Emergency Procedure")*** 

Payment of any benefit or determination of values may be postponed whenever: (1) the NYSE is closed; (2) when trading on the NYSE is restricted; (3) when an emergency exists as determined by the SEC so that disposal of the securities held in the Variable Funding Options is not reasonably practicable or it is not reasonably practicable to determine the value of the Variable Funding Option's net assets; or (4) during any other period when the SEC, by order, so permits for the protection of Contract Owners. This Emergency Procedure will supersede any provision of the Contract that specifies a Valuation Date. At any time, payments from the Fixed Account may also be delayed.

***Variable Funding Options*** 

The Company reserves the right, subject to compliance with the law, to substitute investment alternatives under the Contract and/or offer additional Funding Options.

Certain Variable Annuity separate accounts and variable life insurance separate accounts may invest in the Underlying Funds simultaneously (called "mixed" and "shared" funding). It is conceivable that in the future it may be disadvantageous to do so. Although the Company and the Underlying Funds do not currently foresee any such disadvantages either to Variable Annuity Contract Owners or variable life policy owners, each Underlying Fund's Board of Directors intends to monitor events in order to identify any material conflicts between them and to determine what action, if any, should be taken. If a Board of Directors was to conclude that separate funds should be established for variable life and Variable Annuity separate accounts, the Variable Annuity Contract Owners would not bear any of

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the related expenses, but Variable Annuity Contract Owners and variable life insurance policy owners would no longer have the economies of scale resulting from a larger combined fund.

***The Separate Account***

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The Company issues the Contract under Brighthouse Separate Account Eleven for Variable Annuities (the "Separate Account"). The Separate Account was established on November 14, 2002 under Delaware law and is registered with the SEC as a unit investment trust under the Investment Company Act of 1940, as amended. Prior to December 8, 2008, the Company issued the Contract under MetLife of CT Separate Account PF for Variable Annuities ("Separate Account PF") and MetLife of CT Separate Account PF II for Variable Annuities ("Separate Account PF II"). On December 8, 2008, Separate Account PF and Separate Account PF II along with certain other separate accounts (collectively, the "Former Separate Accounts") were combined with and into Separate Account Eleven (the "Combination").

We hold the assets of the Separate Account for the exclusive benefit of those who hold interests in the Separate Account, according to the laws of Delaware. Income, gains and losses, whether or not realized, from assets allocated to the Separate Account are, in accordance with the Contracts, credited to or charged against the Separate Account without regard to other income, gains and losses of the Company. The assets held by the Separate Account are not chargeable with liabilities arising out of any other business that we may conduct.

All investment income and other distributions of the Variable Funding Options are payable to the Separate Account. We reinvest all such income and/or distributions in shares of the respective Variable Funding Option at net asset value. Shares of the Variable Funding Options are currently sold only to life insurance company separate accounts to fund variable annuity and variable life insurance contracts or to qualified pension or retirement plans as permitted under the Code, and the regulations thereunder.

We reserve the right to transfer assets of the Separate Account to another separate account, and/or to modify the structure or operation of the Separate Account, subject to the necessary regulatory approvals. If we do so, we will notify you of any such changes and we guarantee that the modification will not affect your Contract Value.

Obligations under the Contract are obligations of the Company. Any obligations that exceed the assets in the Separate Account are payable by the Company's general account. The amount of any guaranteed death benefit, guaranteed living benefit, or Annuity Payment that exceeds the Contract Value is paid from the Company's general account. Benefit amounts paid from the general account are subject to the financial strength and claims paying ability of the Company and our long term ability to make such payments and are not guaranteed by our parent company, Brighthouse Financial, Inc., or by any other party. We issue other annuity contracts and life insurance policies where we pay all money we owe under those contracts and policies from our general account. We are regulated as an insurance company under state law, which includes, generally, limits on the amount and type of investments in its general account. However, there is no guarantee that we will be able to meet our claims paying obligations; there are risks to purchasing any insurance product.

***Federal Tax Considerations***

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The following information on taxes is a general discussion of the subject. It is not intended as tax advice. The Internal Revenue Code of 1986, as amended ("Code") and the provisions of the Code that govern the Contract are complex and subject to change. The applicability of federal income tax rules may vary with your particular circumstances. This discussion does not include all the federal income tax rules that may affect you and your Contract. Nor does this discussion address other federal tax consequences (such as estate and gift taxes, sales to foreign individuals or entities), or state or local tax consequences, which may affect your investment in the Contract. As a result, you should always consult a tax adviser for complete information and advice applicable to your individual situation.

We are not responsible for determining if your employer's plan or arrangement satisfies the requirements of the Code and/or the Employee Retirement Income Security Act of 1974 ("ERISA").

We do not expect to incur federal, state or local income taxes on the earnings or realized capital gains attributable to the Separate Account. However, if we do incur such taxes in the future, we reserve the right to charge amounts allocated to the Separate Account for these taxes.

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To the extent permitted under federal tax law, we may claim the benefit of the corporate dividends received deduction and of certain foreign tax credits attributable to taxes paid by certain of the Portfolios to foreign jurisdictions.

For federal tax purposes, the term "spouse" refers to the person to whom you are lawfully married, regardless of sex. The term "spouse" generally will not include individuals who are in a registered domestic partnership or civil union not denominated as marriage under state or other applicable law.

***General Taxation of Annuities*** 

Congress has recognized the value of saving for retirement by providing certain tax benefits, in the form of tax deferral, for premiums paid under an annuity and permitting tax-free transfers between the various investment options offered under the Contract. The Code governs how earnings on your investment in the Contract are ultimately taxed, depending upon the type of contract, qualified or non-qualified, and the manner in which the money is distributed, as briefly described below. Under current federal tax law, the taxable portion of distributions under variable annuity contracts and qualified plans (including IRAs) is not eligible for the reduced tax rate applicable to long-term capital gains and dividends. Earnings under annuity contracts, like interest payable on fixed investments (notes, bonds, etc.), continue to be taxed as ordinary income. The "investment in the Contract" generally equals the amount of any non-deductible Purchase Payments paid by or on behalf of any individual. Any Purchase Payment Credit is not treated as an investment in the Contract and will be treated as taxable gain when distributed. Deferred annuities issued after October 21, 1988 by the same insurance company or an affiliate in the same calendar year to the same owner are combined for tax purposes. As a result, a greater portion of your withdrawals may be considered taxable income than you would otherwise expect. Although the law is not clear, the aggregation rule may also adversely affect the tax treatment of payments received under an income annuity where the owner has purchased more than one non-qualified annuity during the same calendar year from the same or an affiliated company after October 21, 1988, and is not receiving income payments from all annuities at the same time. Please consult your own tax adviser.

**State and Local Taxes**. The rules for state and local income taxes may differ from the federal income tax rules. Purchasers and prospective purchasers of the Contract should consult their own tax advisers and the law of the applicable taxing jurisdiction to determine what rules and tax benefits apply to the Contract.

**Penalty Tax for Premature Distributions**. For both Qualified and Non-qualified Contracts, taxable distributions taken before the Contract Owner has reached the age of 59½ will be subject to a 10% additional tax penalty unless an exception applies. An exception may include distributions which are taken as part of a series of substantially equal periodic payments (not less frequently than annually) made for life or life expectancy as further described in Code Section 72 and applicable IRS guidance (and after separation from service in the case of a Contract Owner participating under certain employer sponsored Qualified retirement plans). An exception may also apply for distributions following the death or disability of the Contract Owner. Other exceptions may be applicable under certain circumstances and special rules apply or may become applicable in connection with the exceptions enumerated above. For Qualified Contracts, other exceptions include certain provisions under the SECURE 2.0 Act of 2022 which may provide the ability to recontribute a "premature" distribution to an IRA or employer sponsored qualified plan (subject to the provisions of the Code, the qualified plan/IRA, the Contract and our administrative rules). You should consult your tax adviser to confirm whether an exception applies. The 10% additional tax penalty is in addition to any other penalties that may apply under your Contract and the normal income taxes due on the distribution. If you receive systematic withdrawals or any other payments that you intend to qualify for the "substantially equal periodic payments" exception noted above, any modifications (except due to death or disability) to your payment before age 59 ½ or within five years after beginning these payments, whichever is later, will result in the retroactive imposition of the 10% federal income tax penalty with interest. Such modifications may include but are not limited to additional Purchase Payments to the Contract (including tax-free transfers or rollovers) and additional withdrawals from the Contract. You should consult with your tax adviser.

**Tax-Free Exchanges**. Code Section 1035 provides that, if certain conditions are met, no gain or loss is recognized when an annuity contract is received in exchange for a life insurance policy, endowment, or annuity contract. Since different annuity contracts have different expenses, fees and benefits, a tax-free exchange could result in your investment becoming subject to higher or lower fees and/or expenses.

**Federal Estate Taxes**. While no attempt is being made to discuss the federal estate tax implications of the Contract, you should keep in mind that the value of an annuity contract owned by a decedent and payable to a beneficiary by virtue of surviving the decedent is included in the decedent's gross estate. Depending on the terms of the annuity contract,

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the value of the annuity included in the gross estate may be the value of the lump sum payment payable to the designated beneficiary or the actuarial value of the payments to be received by the beneficiary. Consult an estate planning adviser for more information.

**Generation-Skipping Transfer Tax**. Under certain circumstances, the Code may impose a "generation-skipping transfer tax" when all or part of an annuity contract is transferred to, or a death benefit is paid to, an individual two or more generations younger than the Contract Owner. Regulations issued under the Code may require us to deduct the tax from your Contract, or from any applicable payment, and pay it directly to the IRS.

**SECURE 2.0 Act Considerations.** As part of the Consolidated Appropriations Act, 2023, Congress passed the SECURE 2.0 Act of 2022 (the "Act") which was signed into law on December 29, 2022. The Act includes many provisions updating the Code affecting employer sponsored qualified plans and IRAs, including provisions that become effective immediately and provisions which become effective in later years through 2033. For example, the Act includes provisions affecting required minimum distribution (RMD), certain contribution and other limits affecting IRAs and qualified plans, as well as provisions providing new exceptions to the 10% federal income tax penalty for "premature" distributions which may also provide for the ability to recontribute such premature distributions to an IRA or qualified plan (subject to the provisions of the Code, the qualified plan/IRA, the Contract and our administrative rules). This prospectus does not attempt to provide a complete discussion of the Act and its provisions. Individuals should consult with a qualified tax adviser.

***Types of Contracts: Qualified and Non-qualified*** 

***Qualified Annuity Contracts*** 

If you purchase your Contract with proceeds of an eligible rollover distribution from any qualified employee pension plan or retirement savings plan or individual retirement annuity (IRA), your Contract is referred to as a Qualified Contract. Some examples of Qualified Contracts are: IRAs (including Roth IRAs), tax-sheltered annuities established by public school systems or certain tax-exempt organizations under Code Section 403(b), corporate sponsored pension, retirement savings, and profit-sharing plans (including 401(k) plans), and certain other qualified deferred compensation plans. Another type of Qualified Contract is a Roth IRA, under which after-tax contributions accumulate until maturity, when amounts (including earnings) may be withdrawn tax-free. The rights and benefits under a Qualified Contract may be limited by the terms of the retirement plan, regardless of the terms and conditions of the Contract. Plan participants making contributions to Qualified Contracts will be subject to the required minimum distribution rules as provided by the Code and described below. All qualified plans (including IRAs) receive tax-deferral under the Code. Although there are no additional tax benefits to funding your qualified plan or IRA with an annuity, it does offer you additional insurance benefits, such as the availability of a guaranteed income for life.

If the Contract has been submitted to the IRS for review, such approval would not constitute an IRS approval or endorsement of any funding options under the contract. IRS approval as to form is not required to constitute a valid IRA. Disqualification of the Contract as an IRA could result in the immediate taxation of amounts held in the Contract and other adverse tax consequences.

***Taxation of Qualified Annuity Contracts*** 

Under a qualified annuity, since amounts paid into the Contract generally have not yet been taxed, the full amount of any distributions (including the amount attributable to Purchase Payments), whether paid in the form of lump sum withdrawals or Annuity Payments, are generally taxed at ordinary income tax rates unless the distribution is transferred to an eligible rollover account or contract. There are special rules which govern the taxation of Qualified Contracts, including withdrawal restrictions, requirements for mandatory distributions, and contribution limits. Amounts rolled over to the Contract from other qualified funding vehicles generally are not subject to current taxation.

***Applicable Age for Required Minimum Distributions (RMD)*** 

As used in this prospectus, "Applicable Age" means the following:

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| | |
|:---|:---|
| **If you…** | **Your "Applicable Age" is…** |
| Were born on or before June 30, 1949 | 70½ |
| Were born on or after July 1, 1949 (and attain age 72 prior to January 1, 2023) | 72 |

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| | |
|:---|:---|
| **If you…** | **Your "Applicable Age" is…** |
| Attain age 72 on or after January 1, 2023 (and attain age 73 on or before December 31, <br> 2032)<br>| 73 |
| Attain age 73 on or after January 1, 2033 | 75 |

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***Mandatory Distributions for Qualified Plans*** 

Generally, you must begin receiving Required Minimum Distribution ("RMD") amounts from your retirement plan by the Required Beginning Date. Generally, the "Required Beginning Date" is by April 1 following the later of:

(a) the calendar year in which you reach the Applicable Age, or

(b) the calendar year you retire, provided you do not own more than 5% of the outstanding stock, capital, or profits of your employer. For IRAs (including SEPs and SIMPLEs), the Required Beginning Date by which you must begin receiving withdrawals is the year in which you attain the Applicable Age even if you have not retired, taking your first distribution no later than by April 1 of the year after you reach the Applicable Age. For all subsequent years, including the first year in which you took your RMD by April 1, you must take the required minimum distribution for the year by December 31st. This will require you to take two distributions in the same calendar year if you wait to take your first distribution until April 1 of the year after attaining the Applicable Age. RMD rules that apply to other types of IRAs while you are alive do not apply to Roth IRAs. However, in general, the IRA post-death rules with respect to RMDs do apply to beneficiaries of Roth IRAs. Effective in 2024, similar rules apply to Roth account balances maintained in employer-sponsored qualified plans. As a result, RMD rules that generally apply under an employer-sponsored qualified plan once you attain your Applicable Age, will not apply to any Roth account balance while you are alive. However, in general, post-death rules with respect to RMDs do apply to beneficiaries upon your death.

If you own more than one individual retirement annuity and/or account, you may satisfy the minimum distribution rules on an aggregate basis (i.e. determine the total amount of required distributions from all IRAs and take the required amount from any one or more IRAs). A similar aggregate approach is available to meet your 403(b) minimum distribution requirements if you have multiple 403(b) annuities. It is important that you consult your tax adviser as to the impact of these regulations on your personal situation.

Income tax regulations regarding minimum distribution requirements affect both deferred and income annuities. Under these rules, the value of all benefits under a deferred annuity (including death benefits in excess of cash value, and, if available in your Contract, the Enhanced Stepped-Up Provision, as well as any living benefits such as GMAB, GMWB, and Principal Protection guarantees) must be added to the Contract Value in computing the amount required to be distributed over the applicable period. We will provide you with additional information as to the amount of your interest in the Contract that is subject to required minimum distributions under this rule and either compute the required amount for you or offer to do so at your request. These rules are not entirely clear and you should consult your personal tax adviser as to how these rules affect your Contract.

A tax penalty (an excise tax) of up to 25% applies to the shortfall of any required minimum distributions you fail to receive.

**Minimum Distributions for Beneficiaries upon the Qualified Annuity Contract Owner's Death**. If you die on or after January 1, 2020, any remaining interest in your Qualified annuity Contract generally must be distributed within 10 years (or in some cases five years) after your death, unless an exception applies. An exception permits an "eligible designated beneficiary" to take distributions over life or a period not exceeding life expectancy, subject to special rules and limitations. An "eligible designated beneficiary" includes: your spouse or minor child (until the child reaches age of majority), certain disabled or chronically ill individuals, and an individual who is not more than 10 years younger than you. We may limit any payment option over life, or period not exceeding life expectancy, to certain categories of eligible designed beneficiary. Generally, distributions under this exception must start by the end of the year following your death. However, if your surviving spouse is the sole designated beneficiary, distributions may generally be delayed until December 31 of the year you would have attained the Applicable Age, if your Contract permits.

If you die after Annuity Payments have already begun under a Qualified annuity Contract, applicable tax law may require that any remaining payments must be made over a shorter period than originally elected or otherwise adjusted to comply with the tax law and avoid the up to 25% excise tax which may apply to any failure to take any required minimum distributions. Consult a tax adviser.

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If your surviving spouse is the sole designated beneficiary of your Traditional or Roth IRA, then your surviving spouse may elect to treat the Traditional or Roth IRA as his or her own.

Your designated Beneficiary is the person to whom benefit rights under the Contract pass by reason of death. The Beneficiary generally must be a natural person in order to elect a periodic payment option based on life expectancy or a period exceeding five years. Different tax rules may apply if your Beneficiary is not a natural person, such as Your estate.

Your spouse may be able to roll over the death proceeds into another eligible retirement plan in which he or she participates, if permitted under the receiving plan, or he or she may elect to roll over the death proceeds into his or her own IRA, or he or she may elect to transfer the death proceeds into an inherited IRA.

If your Beneficiary is not your spouse and your plan and Contract permit, your Beneficiary may be able to roll over the death proceeds via a direct trustee-to-trustee transfer into an inherited IRA. However, a non-spouse Beneficiary may not treat the inherited IRA as his or her own IRA.

Additionally, for Contracts issued in connection with qualified plans subject to ERISA, the spouse or ex-spouse of the participant may have rights in the contract. In such a case, the participant may need the consent of the spouse or ex-spouse to change annuity options or make a withdrawal from the contract.

**Inherited IRA.** Subject to the provisions of the Code, the Contract and our administrative rules, we may make available an inherited IRA to (1) an individual non-spouse beneficiary, or (2) a surviving spouse beneficiary. Such beneficiaries are required to take required minimum distribution (RMD) in accordance with federal tax law. For example, if the inherited IRA is established as a ten-year inherited IRA, federal tax law generally requires a beneficiary to take annual RMD withdrawals from the inherited IRA if the deceased IRA owner/qualified plan participant died on or after their Required Beginning Date (RBD). All inherited IRA contracts established as a ten-year inherited IRA also must be completely distributed by the end of the calendar year containing the tenth anniversary of the original IRA owner's/qualified plan participant's date of death. Because federal tax law and its RMD rules are complex, beneficiaries should consult a qualified tax adviser.

**Note to participants in qualified plans including 401, 403(b), 408 or 457, and IRA owners**. While annual plan contribution limits may be increased from time to time by Congress and the IRS for federal income tax purposes, these limits must be adopted by each state for any higher limits to be effective at a state income tax level. In other words, the permissible contribution limits for federal and state income tax purposes may be different. Therefore, in certain states, a portion of the contributions may not be excludible or deductible from state income taxes. Please consult your employer or tax adviser regarding this issue.

***Individual Retirement Annuities*** 

To the extent of earned income for the year and not exceeding the applicable limit for the taxable year, an individual may make contributions, which in some cases may be deductible, to an individual retirement annuity (IRA). The applicable limit is $7,500 in 2026, and it may be indexed for inflation in subsequent years. Additional "catch-up contributions" of $1,100 may be made to an IRA by individuals age 50 or over for 2026 (subject to cost-of-living adjustments in future years). These amounts may be subject to cost-of-living adjustments in future years. There are certain limits on the deductible amount based on the adjusted gross income of the individual and spouse and on their participation in a retirement plan. If an individual is married and the spouse is not employed, the individual may establish IRAs for the individual and spouse. Purchase Payments may then be made annually into IRAs for both spouses in the maximum amount of 100% of earned income up to a combined limit based on the individual limits outlined above.

Contributions to an IRA and Roth IRA for the year must be aggregated for purposes of the individual Code Section 408A limits and the Code Section 219 limits (age 50+ catch-up).

Partial or full distributions are treated as ordinary income, except that amounts contributed after 1986 on a non-deductible basis are not includable in income when distributed. An additional tax of 10% will apply to any taxable distribution from the IRA that is received by the participant before the age of 59½ unless an exception applies (see "Penalty Tax for Premature Distributions" and consult your tax adviser). Distributions must commence by April 1st of the calendar year after the close of the calendar year in which the individual attains the Applicable Age. Certain other mandatory distribution rules apply on the death of the individual. The individual must maintain personal and tax return records of any non-deductible contributions and distributions.

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Section 408(k) of the Code provides for the purchase of a Simplified Employee Pension (SEP) plan. A SEP is funded through an IRA and can accept an annual employer contribution limited to the lesser of $72,000 or 25% of pay for each participant in 2026.

***Roth IRAs*** 

Section 408A of the Code permits certain individuals to contribute to a Roth IRA. Eligibility to make contributions is based upon income, and the applicable limits vary based on marital status and/or whether the contribution is a rollover contribution from another IRA or an annual contribution. Contributions to a Roth IRA, which are subject to certain limitations (similar to the annual limits for traditional IRAs), are not deductible and must be made in cash or as a rollover or transfer from another Roth IRA or other IRA. A conversion of a "traditional" IRA to a Roth IRA may be subject to tax and other special rules apply. You should consult a tax adviser before combining any converted amounts with other Roth IRA contributions, including any other conversion amounts from other tax years.

Qualified distributions from a Roth IRA are not subject to federal income tax. A qualified distribution requires that the Roth IRA has been held for at least 5 years, and the distribution be made after age 59½, on death or disability of the owner, or that another exception apply. Income tax and a 10% penalty tax may apply to distributions.

***TSAs (Tax-Sheltered Annuities — ERISA and Non-ERISA)*** 

**General.** TSAs fall under §403(b) of the Code, which provides certain tax benefits to eligible employees of public school systems and organizations that are tax exempt under §501(c)(3) of the Code.

In general contributions to §403(b) arrangements are subject to limitations under §415(c) of the Code (the lesser of 100% of includable compensation or the applicable limit for the year).

Under IRS regulations adopted in 2007, employers must meet certain requirements in order for their employees' annuity contracts that fund these programs to retain a tax deferred status under §403(b). Prior to the 2007 rules, transfers of one annuity contract to another would not result in a loss of tax deferred status under §403(b) under certain conditions (so-called "90-24 transfers"). The 2007 regulations have the following effect regarding transfers: (1) a newly issued contract funded by a transfer which is completed after September 24, 2007, is subject to the employer requirements referred to above; (2) additional purchase payments made after September 24, 2007, to a contract that was funded by a 90-24 transfer on or before September 24, 2007, may subject the contract to this new employer requirement.

If your Contract was issued previously in a 90-24 transfer completed on or before September 24, 2007, we urge you to consult with your tax adviser prior to making additional purchase payments (if permitted).

**Withdrawals and Income Payments.** If you are under 59½, you cannot withdraw money from your TSA Contract unless the withdrawal:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Relates to Purchase Payments made prior to 1989 (and pre-1989 earnings on those Purchase Payments);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Is directly transferred to another permissible investment under §403(b) arrangements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Relates to amounts that are not salary reduction elective deferrals;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Occurs after you die, leave your job or become disabled (as defined by the Code);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Is for financial hardship (but only to the extent of Purchase Payments) if your plan allows it;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Relates to distributions attributable to certain TSA plan terminations, if the conditions of the Code are met;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Relates to rollover or after-tax contributions; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Is for the purchase of permissive service credit under a governmental defined benefit plan.

Additional details and other special rules or exceptions may apply under the Code and your TSA. You should consult with your tax adviser before making a withdrawal from your Contract.

**Designated Roth Account for 403(b) Plans**. Employers that established and maintain a TSA/403(b) plan ("the Plan") may also establish a Qualified Roth Contribution Program under Section 402A of the Code ("Designated Roth

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Accounts") to accept after-tax contributions as part of the TSA plan. In accordance with our administrative procedures, we may permit these contributions to be made as purchase payments to a Section 403(b) Contract under the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The employer maintaining the plan has demonstrated to our satisfaction that Designated Roth Accounts are permitted under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) In accordance with our administrative procedures, the amount of elective deferrals has been irrevocably designated as an after-tax contribution to the Designated Roth Account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) All state regulatory approvals have been obtained to permit the Contract to accept such after-tax elective deferral contributions (and, where permitted under the Qualified Roth Contribution Program and the Contract, rollovers and trustee-to-trustee transfers from other Designated Roth Accounts).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) In accordance with our procedures and in a form satisfactory to us, we may accept rollovers from other funding vehicles under any Qualified Roth Contribution Program of the same type in which the employee participates as well as trustee-to-trustee transfers from other funding vehicles under the same Qualified Roth Contribution Program for which the participant is making elective deferral contributions to the Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Other contribution types (including employer contributions, matching contributions, etc.) will be allowed as designated Roth contributions if permitted under the Code and the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) If permitted under the federal tax law, we may permit both pre-tax contributions under a 403(b) plan as well as after-tax contributions under the Plan's Qualified Roth Contribution Program to be made under the same Contract as well as rollover contributions and contributions by trustee-to-trustee transfers. In such cases, we will account separately for the designated Roth contributions and the earnings thereon from the contributions and earnings made under the pre-tax TSA plan (whether made as elective deferrals, rollover contributions or trustee-to-trustee transfers). As between the pre-tax or traditional Plan and the Qualified Roth Contribution Program, we will allocate any living benefits or death benefits provided under the Contract on a reasonable basis, as permitted under the tax law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) We may refuse to accept contributions made as rollovers and trustee-to-trustee transfers, unless we are furnished with a breakdown as between participant contributions and earnings at the time of the contribution.

The Contract does not accommodate separate accounting for Roth and non-Roth accounts. Compliance with IRS regulations regarding such accounting must be provided by or arranged for by the Qualified Plan Administrator.

Both you and your employer should consult your respective tax and legal advisers prior to making or permitting contributions to be made to a Qualified Roth Contribution Program.

The following general tax rules are based on our understanding of the Code and regulations, and are subject to change and to different interpretation as well as additional guidance in respect to areas not previously addressed:

The employer must permit contributions under a pre-tax 403(b) plan in order to permit contributions to be irrevocably designated and made part of a Qualified Roth Contribution Program.

Elective deferral contributions to the Designated Roth Account must be aggregated with all other elective deferral contributions made by a taxpayer for purposes of the individual Code Section 402(g) limits and the Code Section 414(v) limits (relating to age 50 and over catch-up contributions) as well as contribution limits that apply under the Plan.

In general, the same tax law rules with respect to restricted monies, triggering events and permitted distributions will apply to the Designated Roth Accounts under the Plan as apply to the traditional pre-tax accounts under the plan (e.g., death or disability of participant, severance from employment, attainment of age 59½ and hardship withdrawals only with respect to contributions (if permitted under the Plan)).

If the amounts have been held under any Designated Roth Account of a participant for at least five years and are made on account of death, disability or after attainment of age 59½, then any withdrawal, distribution or payment of these amounts is generally free of federal income tax ("Qualified Distributions").

Unlike Roth IRAs, withdrawals, distributions and payments that do not meet the five year rule will generally be taxed on a pro-rated basis with respect to earnings and after-tax contributions. The 10% penalty tax will generally apply on

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the same basis as a traditional pre-tax account under the Plan. Additionally, rollover distributions may only be made tax-free into another Designated Roth Account or into a Roth IRA.

Some states may not permit contributions to be made to a Qualified Roth Contribution Program or may require additional conforming legislation for these rules to become effective.

Recently enacted legislation allows (but does not require) 403(b) plans that offer designated Roth accounts to permit participants to roll their non-Roth account assets into a designated Roth account under the same plan, provided the non-Roth assets are distributable under the plan and otherwise eligible for rollover.

**Loans.** If your Plan and TSA Contract permit loans, such loans will be made only from any Fixed Interest Account balance and only up to certain limits. In that case, we credit your Fixed Interest Account balance up to the amount of the outstanding loan balance with a rate of interest that is less than the interest rate we charge for the loan.

The Code and applicable income tax regulations limit the amount that may be borrowed from your Contract and all your employer plans in the aggregate and also require that loans be repaid, at a minimum, in scheduled level payments over a proscribed term.

Your Plan and Contract will indicate whether loans are permitted. The terms of the loan are governed by the Contract and loan agreement. Failure to satisfy loan limits under the Code or to make any scheduled payments according to the terms of your loan agreement and Federal tax law could have adverse tax consequences. Consult a tax adviser and read your loan agreement and Contract prior to taking any loan.

***Non-qualified Annuity Contracts*** 

If you purchase the Contract on an individual basis with after-tax dollars and not under one of the programs described above, your Contract is referred to as non-qualified. As the owner of a non-qualified annuity, you do not receive any tax benefit (deduction or deferral of income) on Purchase Payments, but you will not be taxed on increases in the value of your Contract until a distribution occurs — either as a withdrawal made prior to the Maturity Date or in the form of periodic Annuity Payments. As a general rule, there is income in the Contract (earnings) to the extent the Contract Value exceeds your investment in the Contract. The investment in the Contract equals the total Purchase Payments less any amount received previously which was excludible from gross income.

Generally, different tax rules apply to Annuity Payments than to withdrawals and payments received before the annuity starting date. When a withdrawal is made, you are taxed on the amount of the withdrawal that is considered earnings under federal tax laws.

Similarly, when you receive an Annuity Payment, part of each periodic payment is considered a return of your Purchase Payments and will not be taxed, but the remaining portion of the Annuity Payment (i.e., any earnings) will be considered ordinary income for federal income tax purposes. Annuity Payments are subject to an "excludable amount" or "exclusion ratio" which determines how much of each payment is treated as:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a non-taxable return of your Purchase Payment; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a taxable payment of earnings.

We generally will tell you how much of each Annuity Payment is a non-taxable return of your Purchase Payments. However, it is possible that the IRS could conclude that the taxable portion of Annuity Payments under a non-qualified contract is an amount greater (or less) than the taxable amount determined by us and reported by us to you and the IRS. Generally, once the total amount treated as a non-taxable return of your Purchase Payments equals your Purchase Payments, then all remaining payments are fully taxable. We will withhold a portion of the taxable amount of your Annuity Payment for income taxes, unless you elect otherwise. The amount we withhold is determined by the Code.

Federal law imposes a 3.8% Net Investment Income tax on the lesser of: (1) the taxpayer's "net investment income" (from non-qualified annuities, interest, dividends and other investments, offset by specified allowable deductions); or (2) the taxpayer's modified adjusted gross income in excess of a specified income threshold ($250,000 for married couples filing jointly and qualifying surviving spouses, $125,000 for married couples filing separately, and $200,000 for single filers). "Net investment income" does not include distributions from tax-qualified plans (i.e., arrangements described in Code Sections 401(a), 403(a), 403(b), 408, 408A or 457(b)), but such income will increase modified adjusted gross income.

You should consult your tax adviser regarding the applicability of this tax to income you would receive under this annuity contract.

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Code Section 72(s) requires that non-qualified annuity contracts meet minimum mandatory distribution requirements upon the death of the Contract Owner, including the death of either of the Joint Owners. If these requirements are not met, the Contract will not be treated as an annuity contract for federal income tax purposes and earnings under the Contract will be taxable currently, not when distributed. The distribution required depends, among other things, upon whether an annuity option is elected or whether the succeeding Contract Owner is the surviving spouse. We will administer contracts in accordance with these rules and we will notify you when you should begin receiving payments. There is a more complete discussion of these rules in the SAI.

If a non-qualified annuity is owned by a non-natural person (e.g., a corporation), increases in the value of the Contract attributable to Purchase Payments made after February 28, 1986 are includable in income annually and taxed at ordinary income tax rates. Furthermore, for contracts issued after April 22, 1987, if the Contract is transferred to another person or entity without adequate consideration, all deferred increases in value will be treated as income for federal income tax purposes at the time of the transfer. If a non-natural person, such as a trust, is the owner of a non-qualified Contract, the distribution on death rules under the Code may require payment to begin earlier than expected and may impact the usefulness of the living (if any) and/or death benefits. Naming a non-natural person, such as a trust or estate, as a Beneficiary under the Contract will generally eliminate the Beneficiary's ability to "stretch" or a spousal beneficiary's ability to continue the Contract and the living (if any) and/or death benefits.

**Partial Withdrawals**. If you make a partial withdrawal of your Contract Value, the distribution generally will be taxed as first coming from earnings (income in the Contract) and then from your Purchase Payments. These withdrawn earnings are includable in your taxable income. (See "Penalty Tax for Premature Distributions" below.) Any direct or indirect borrowing against the value of the Contract or pledging of the Contract as security for a loan will be treated as a cash distribution under the tax law, and will have tax consequences in the year taken.

**Partial Annuitizations (if available with your Contract**). Starting in 2011, if your Contract allows and you elect to apply less than your entire Contract Value to a Payment Option provided under the Contract ("partial annuitization"), an exclusion ratio will apply to the Annuity Payments you receive, provided the payout period is for 10 years or more, or for the life of one or more individuals. Your after-tax Purchase Payments in the Contract will be allocated pro rata between the annuitized portion of the contract and the portion that remains deferred. Consult your own independent tax adviser before you partially annuitize your Contract.

***Diversification Requirements for Variable Annuities*** 

The Code requires that any non-qualified variable annuity contracts based on a Separate Account must meet specific diversification standards. Non-qualified variable annuity contracts shall not be treated as an annuity for federal income tax purposes if investments made in the account are not adequately diversified. Final tax regulations define how Separate Accounts must be diversified. The Company constantly monitors the diversification of investments and believes that its accounts are adequately diversified. The consequence of any failure to diversify is essentially the loss to the Contract Owner of tax-deferred treatment, requiring the current inclusion of a proportionate share of the income and gains from the Separate Account assets in the income of each Contract Owner. The Company intends to administer all contracts subject to this provision of law in a manner that will maintain adequate diversification.

***Ownership of the Investments*** 

In certain circumstances, owners of variable annuity contracts have been considered to be the owners of the assets of the underlying Separate Account for federal income tax purposes due to their ability to exercise investment control over those assets. When this is the case, the Contract Owners have been currently taxed on income and gains attributable to the Separate Account assets. There is little guidance in this area, and some features of the Contract, such as the number of funds available and the flexibility of the Contract Owner to allocate premium payments and transfer amounts among the funding options, have not been addressed in public rulings. While we believe that the Contract does not give the Contract Owner investment control over Separate Account assets, we reserve the right to modify the Contract as necessary to prevent a Contract Owner from being treated as the owner of the Separate Account assets supporting the Contract.

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***Taxation of Death Benefit Proceeds*** 

Amounts may be distributed from a Non-qualified Contract because of the death of an owner or Annuitant. Generally, such amounts are includable in the income of the recipient as follows: (i) if distributed in a lump sum, they are taxed in the same manner as a full surrender of the Contract; or (ii) if distributed under a payment option, they are taxed in the same way as Annuity Payments.

***Other Tax Considerations***

***Treatment of Charges for Optional Benefits*** 

The Contract may provide one or more optional enhanced death benefits or other minimum guaranteed benefit that in some cases may exceed the greater of purchase price or the Contract Value. It is possible that the Internal Revenue Service may take the position that the charges for the optional enhanced benefit(s) are deemed to be taxable distributions to you. Although we do not believe that a charge under such optional enhanced benefits should be treated as a taxable withdrawal, you should consult with your tax adviser before selecting any rider or endorsement to the Contract.

***Puerto Rico Tax Considerations*** 

The Puerto Rico Internal Revenue Code of 2011 (the "2011 PR Code") taxes distributions from non-qualified annuity contracts differently than in the U.S. Distributions that are not in the form of an annuity (including partial surrenders and period certain payments) are treated under the 2011 PR Code first as a return of investment. Therefore, a substantial portion of the amounts distributed generally will be excluded from gross income for Puerto Rico tax purposes until the cumulative amount paid exceeds your tax basis. The amount of income on annuity distributions (payable over your lifetime) is calculated differently under the 2011 PR Code. Since the U.S. source income generated by a Puerto Rico bona fide resident is subject to U.S. income tax and the Internal Revenue Service issued guidance in 2004 which indicated that the income from an annuity contract issued by a U.S. life insurer would be considered U.S. source income, the timing of recognition of income from an annuity contract could vary between the two jurisdictions. Although the 2011 PR Code provides a credit against the Puerto Rico income tax for U.S. income taxes paid, an individual may not get full credit because of the timing differences. You should consult with a personal tax adviser regarding the tax consequences of purchasing an annuity contract and/or any proposed distribution, particularly a partial distribution or election to annuitize.

***Non-Resident Aliens*** 

Distributions to nonresident aliens ("NRAs") are subject to special and complex tax and withholding rules under the Code with respect to U.S. source income, some of which are based upon the particular facts and circumstances of the Contract Owner, the beneficiary and the transaction itself. As stated above, the IRS has taken the position that income from the Contract received by NRAs is considered U.S. source income. In addition, Annuity Payments to NRAs in many countries are exempt from U.S. tax (or subject to lower rates) based upon a tax treaty, provided that the Contract Owner complies with the applicable requirements. NRAs should seek guidance from a tax adviser regarding their personal situation.

***Tax Credits and Deductions*** 

The Company may be entitled to certain tax benefits related to the assets of the Separate Account. These tax benefits, which may include foreign tax credits and corporate dividend received deductions, are not passed back to the Separate Account or to Contract Owners since the Company is the owner of the assets from which the tax benefits are derived.

***Other Information***

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**PrimElite II** is a service mark of Primerica, Inc. and is used by MetLife, Inc. and its affiliates under license.

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***Brighthouse Life Insurance Company*** 

Brighthouse Life Insurance Company ("BLIC") is a Delaware stock life insurance company originally incorporated in Connecticut in 1863. BLIC is licensed to conduct business in all states of the United States (except New York), the District of Columbia, the Bahamas, Guam, Puerto Rico, the British Virgin Islands and the U.S Virgin Islands. BLIC is an indirect wholly-owned subsidiary of, and ultimately controlled by, Brighthouse Financial, Inc. ("BHF"), a publicly-traded company. BHF, through its subsidiaries and affiliates, is one of the largest providers of annuities and life insurance in the U.S. BLIC's executive offices are located at 11225 North Community House Road, Charlotte, NC 28277.

On November 6, 2025, BHF and Aquarian Capital LLC ("Aquarian") announced that they had entered into a definitive agreement under which an affiliate of Aquarian will acquire BHF. This transaction is subject to the satisfaction or waiver of customary closing conditions, including receipt of applicable regulatory approvals. Subject to such approvals and the satisfaction or waiver of the other conditions, the transaction is expected to be consummated in 2026.

Upon the consummation of the transaction, Aquarian will become the ultimate parent of BHF and BLIC will remain an indirect wholly-owned subsidiary of BHF. Although Aquarian will replace BHF as BLIC's ultimate parent, BLIC will continue in its present role as the issuer of your contract. All of your rights and benefits under your contract and BLIC's obligations under the contract will remain unchanged.

Founded in 2017, Aquarian Capital is a diversified global holding company with a strategic portfolio of insurance and asset management solutions. Aquarian is headquartered in New York, NY.

***Distributor*** 

We have entered into a distribution agreement with our affiliate, Brighthouse Securities, LLC (Distributor), 11225 North Community House Road, Charlotte, NC 28277, for the distribution of the contracts. Both the Company and Distributor are indirect, wholly owned subsidiaries of BHF. Distributor is a member of the Financial Industry Regulatory Authority (FINRA). FINRA provides background information about broker-dealers and their registered representatives through FINRA BrokerCheck. You may contact the FINRA BrokerCheck Hotline at 1-800-289-9999, or log on to www.finra.org. An investor brochure that includes information describing FINRA BrokerCheck is available through the Hotline or on-line.

Distributor, and in certain cases, we, have entered into selling agreements with unaffiliated selling firms for the sale of the contracts. No selling firms are affiliated with us or Distributor. We pay compensation to Distributor for sales of the contracts by selling firms. We also pay amounts to Distributor that may be used for its operating and other expenses, including the following sales expenses: compensation and bonuses for Distributor's management team and other expenses of distributing the contracts. Distributor's management team and registered representatives also may be eligible for non-cash compensation items that we may provide jointly with Distributor. Non-cash items include conferences, seminars and trips (including travel, lodging and meals in connection therewith), entertainment, merchandise and other similar items.

All of the Underlying Funds make payments to Distributor under their distribution plans in consideration of services provided and expenses incurred by Distributor in distributing shares of the Underlying Funds. (See the Underlying Fund prospectuses for more information.) These payments range up to 0.25% of Separate Account assets invested in the particular Investment Portfolio.

The Company no longer actively offers the Contracts to new purchasers, but it continues to accept Purchase Payments from existing Contract Owners.

**Selling Firms.** As noted above, Distributor, and in certain cases, we, have entered into selling agreements with unaffiliated selling firms for the sale of the contracts. All selling firms receive commissions, and they may also receive some form of non-cash compensation. Certain selected selling firms receive additional compensation (described below under "Additional Compensation for Selected Selling Firms"). These commissions and other incentives or payments are not charged directly to contract Owners or the Separate Account. We intend to recoup commissions and other sales expenses through fees and charges deducted under the contract or from our general account. A portion of the payments made to selling firms may be passed on to their sales representatives in accordance with the selling firms' internal compensation programs. Those programs may also include other types of cash and non-cash compensation and other benefits. Financial representatives of the selling firms may also receive non-cash compensation, pursuant to their firm's guidelines, directly from us or Distributor.

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**Compensation Paid to Selling Firms.** Distributor pays compensation to all selling firms in the form of commissions and may also provide certain types of non-cash compensation. The maximum commission payable for contract sales and additional Purchase Payments by selling firms is 7.50% of Purchase Payments (if up-front compensation is paid to registered representatives) and up to 1.50% annually of average Contract Value (if asset-based compensation is paid to registered representatives). A registered representative may receive more asset-based compensation for Contract Value allocated to the Variable Funding Options than for Contract Value allocated to the Fixed Account. Distributor also pays commissions when a Contract Owner elects to begin receiving regular income payments (referred to as "Annuity Payments"). (See "Annuity Period.") Distributor may also provide non-cash compensation items that we may provide jointly with Distributor. Non-cash items may include expenses for conference or seminar trips, certain gifts, prizes, and awards.

The terms of any particular agreement governing compensation may vary among selling firms and the amounts may be significant. The prospect of receiving, or the receipt of, additional compensation as described above may provide selling firms and/or their sales representatives with an incentive to favor sales of the contracts over other variable annuity contracts (or other investments) with respect to which selling firm does not receive additional compensation, or lower levels of additional compensation. You may wish to take such payment arrangements into account when considering and evaluating any recommendation relating to the contracts. For more information about any such additional compensation arrangements, ask your financial representative.

***Good Order*** 

A request or transaction generally is considered in Good Order if it complies with our administrative procedures and the required information is complete and accurate. A request or transaction may be rejected or delayed if not in Good Order. Good Order generally means the actual receipt by us of the instructions relating to the requested transaction in writing (or, when permitted, by telephone or Internet as described above) along with all forms, information and supporting legal documentation necessary to effect the transaction. This information and documentation generally includes to the extent applicable to the transaction: your completed application; your contract number; the transaction amount (in dollars or percentage terms); the names and allocations to and/or from the Investment Portfolios affected by the requested transaction; the signatures of all contract Owners (exactly as indicated on the contract), if necessary; Social Security Number or Tax I.D.; and any other information or supporting documentation that we may require, including any spousal or Joint Owner's consents. With respect to Purchase Payments, Good Order also generally includes receipt by us of sufficient funds to effect the purchase. We may, in our sole discretion, determine whether any particular transaction request is in Good Order, and we reserve the right to change or waive any Good Order requirement at any time. If you have any questions, you should contact us or your financial representative before submitting the form or request.

***Conformity with State and Federal Laws*** 

The laws of the state in which we deliver a contract govern that Contract. Where a state has not approved a contract feature or funding option, it will not be available in that state. Any paid-up annuity, Cash Surrender Value or death benefits that are available under the Contract are not less than the minimum benefits required by the statutes of the state in which we delivered the Contract. We reserve the right to make any changes, including retroactive changes, in the Contract to the extent that the change is required to meet the requirements of any law or regulation issued by any governmental agency to which the Company, the Contract or the Contract Owner is subject.

***Voting Rights*** 

The Company is the legal owner of the shares of the Underlying Funds. However, we believe that when an Underlying Fund solicits proxies in conjunction with a vote of shareholders we are required to obtain from you and from other owners instructions on how to vote those shares. We will vote all shares, including those we may own on our own behalf, and those where we have not received instructions from Contract Owners, in the same proportion as shares for which we received voting instructions. The effect of this proportional voting is that a small number of Contract Owners may control the outcome of a vote. Should we determine that we are no longer required to comply with the above, we will vote on the shares in our own right. In certain limited circumstances, and when permitted by law, we may disregard voting instructions. If we do disregard voting instructions, a summary of that action and the reasons for such action would be included in the next annual report to Contract Owners.

In accordance with our view of present applicable law, we will vote shares of the Underlying Funds at regular and special meetings of the shareholders of the funds in accordance with instructions received from persons having a

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voting interest in the corresponding Subaccounts. We will vote shares for which we have not received instructions in the same proportion as we vote shares for which we have received instructions. However, if the 1940 Act or any regulation thereunder should be amended, or if the present interpretation thereof should change, and as a result we determine that we are permitted to vote shares of the Underlying Funds in our own right, we may elect to do so.

The number of shares which a person has a right to vote will be determined as of the date concurrent with the date established by the respective mutual fund for determining shareholders eligible to vote at the meeting of the fund, and voting instructions will be solicited by written communication before the meeting in accordance with the procedures established by the mutual fund.

Each person having a voting interest will receive proxy material and a form with which to give such instructions with respect to the proportion of the fund shares held in the Subaccounts corresponding to his or her interest.

***Restrictions on Financial Transactions*** 

Federal laws designed to counter terrorism and prevent money laundering might, in certain circumstances, require us to block a Contract Owner's ability to make certain transactions and thereby refuse to accept any request for transfers, withdrawals, surrenders, or death benefits, until the instructions are received from the appropriate regulator. We may also be required to provide additional information about you and your Contract to government regulators.

***Legal Proceedings*** 

In the ordinary course of business, the Company, similar to other life insurance companies, is involved in lawsuits (including class action lawsuits), arbitrations and other legal proceedings. Also, from time to time, state and federal regulators or other officials conduct formal and informal examinations or undertake other actions dealing with various aspects of the financial services and insurance industries. In some legal proceedings involving insurers, substantial damages have been sought and/or material settlement payments have been made.

It is not possible to predict with certainty the ultimate outcome of any pending legal proceeding or regulatory action. However, the Company does not believe any such action or proceeding will have a material adverse effect upon the Separate Account or the Company's ability to meet its obligations under the Contracts.

***Exchanges*** 

The Code generally permits you to exchange one annuity contract for another in a "tax-free exchange." Therefore, you can transfer the proceeds from an annuity contract to purchase another contract. Before making an exchange to acquire a contract, you should carefully compare each contract. You may have to pay a surrender charge under your current contract to exchange it for the new contract, and the new contract may have its own surrender charges that would apply to you. The other fees and charges under the new contract may be higher or lower and the benefits may be different than those of your current contract. In addition, you may have to pay federal income or penalty taxes on the exchange if it does not qualify for tax-free treatment. You should not exchange one contract for another contract unless you determine, after evaluating all the facts that the exchange is in your best interests. Remember that the person selling you the contract generally will earn a commission on the sale.

***Financial Statements*** 

The financial statements of the Company and the financial statements of the Separate Account have been included in the SAI.

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***Appendix A***

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***Investment Options 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/PUFT/BHF83. You can also request this information at no cost by calling (888) 243-1932 or sending an email request to rcg@brighthousefinancial.com.

The availability of the Underlying Funds may vary depending on the selling firm through which your Contract is sold. See Appendix D: State and Financial Intermediary Variations.

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.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment Objectives** | &nbsp;&nbsp; **Portfolio Company and**<br> ***Adviser/Sub-Adviser*** | &nbsp;&nbsp; **Current** <br> **Expenses** | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> (as of 12/31/2025) | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> (as of 12/31/2025) | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> (as of 12/31/2025) |
| **Investment Objectives** | &nbsp;&nbsp; **Portfolio Company and**<br> ***Adviser/Sub-Adviser*** | &nbsp;&nbsp; **Current** <br> **Expenses** | &nbsp;&nbsp; **1**<br> **Year**<br>| &nbsp;&nbsp; **5**<br> **Year**<br>| &nbsp;&nbsp; **10**<br> **Year**<br>|
| Seeks long-term growth of <br> capital.<br>| &nbsp;&nbsp; AB VPS Sustainable Global Thematic <br> Portfolio — Class B††<br> *AllianceBernstein L.P.*<br>| 1.20% | 6.02% | 3.02% | 9.80% |
| Seeks both capital <br> appreciation and current <br> income.<br>| &nbsp;&nbsp; Invesco V.I. Equity and Income Fund — <br> Series II<br> *Invesco Advisers, Inc.*<br>| 0.82% | 12.52% | 8.68% | 8.64% |
| Seeks long-term growth of <br> capital.<br>| &nbsp;&nbsp; American Funds Global Growth Fund — <br> Class 2#<br> *Capital Research and Management* <br> *Company*<sup>SM</sup><br>| 0.65% | 21.62% | 8.23% | 12.17% |
| Seeks growth of capital. | &nbsp;&nbsp; American Funds Growth Fund — Class 2<br> *Capital Research and Management* <br> *Company*<sup>SM</sup><br>| 0.58% | 20.24% | 13.37% | 17.97% |
| Seeks long-term growth of <br> capital and income.<br>| &nbsp;&nbsp; American Funds Growth-Income Fund <br> — Class 2<br> *Capital Research and Management* <br> *Company*<sup>SM</sup><br>| 0.53% | 18.06% | 13.90% | 13.92% |
| Seeks long-term growth of <br> capital.<br>| &nbsp;&nbsp; American Funds SMALLCAP World <br> Fund® — Class 2<sup>1</sup>#<br> *Capital Research and Management* <br> *Company*<sup>SM</sup><br>| 0.90% | 14.64% | 0.49% | 7.23% |
| Seeks as high a level of <br> current income as is <br> consistent with the <br> preservation of capital.<br>| &nbsp;&nbsp; American Funds The Bond Fund of <br> America — Class 2#<br> *Capital Research and Management* <br> *Company*<sup>SM</sup><br>| 0.47% | 7.26% | -0.14% | 2.36% |
| Seeks long-term capital <br> appreciation.<br>| &nbsp;&nbsp; Brighthouse Small Cap Value Portfolio — <br> Class B††<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: Allspring Global* <br> *Investments, LLC*<br>| 1.03% | -3.21% | 6.43% | 8.07% |
| Seeks long-term capital <br> appreciation.<br>| &nbsp;&nbsp; Brighthouse/Wellington Large Cap <br> Research Portfolio — Class E††<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: Wellington Management* <br> *Company LLP*<br>| 0.69% | 15.74% | 12.14% | 13.45% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment Objectives** | &nbsp;&nbsp; **Portfolio Company and**<br> ***Adviser/Sub-Adviser*** | &nbsp;&nbsp; **Current** <br> **Expenses** | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> (as of 12/31/2025) | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> (as of 12/31/2025) | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> (as of 12/31/2025) |
| **Investment Objectives** | &nbsp;&nbsp; **Portfolio Company and**<br> ***Adviser/Sub-Adviser*** | &nbsp;&nbsp; **Current** <br> **Expenses** | &nbsp;&nbsp; **1**<br> **Year**<br>| &nbsp;&nbsp; **5**<br> **Year**<br>| &nbsp;&nbsp; **10**<br> **Year**<br>|
| Seeks total return through <br> investment in real estate <br> securities, emphasizing <br> both capital appreciation <br> and current income.<br>| &nbsp;&nbsp; CBRE Global Real Estate Portfolio — <br> Class B#<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: CBRE Investment* <br> *Management Listed Real Assets LLC*<br>| 0.91% | 6.75% | 4.03% | 3.95% |
| Seeks capital growth and <br> income.<br>| &nbsp;&nbsp; Invesco Comstock Portfolio — Class B#<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: Invesco Advisers, Inc.*<br>| 0.81% | 17.31% | 15.15% | 11.83% |
| Seeks capital appreciation. | &nbsp;&nbsp; Invesco Global Equity Portfolio — <br> Class B††<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: Invesco Advisers, Inc.*<br>| 0.83% | 15.60% | 7.30% | 11.00% |
| Seeks long-term growth of <br> capital.<br>| &nbsp;&nbsp; Loomis Sayles Growth Portfolio — <br> Class A#<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: Loomis, Sayles & Company,* <br> *L.P.*<br>| 0.55% | 15.21% | 15.06% | 14.19% |
| Seeks capital appreciation. | &nbsp;&nbsp; MFS® Research International Portfolio — <br> Class B#<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: Massachusetts Financial* <br> *Services Company*<br>| 0.81% | 22.41% | 5.54% | 7.57% |
| Seeks long-term capital <br> appreciation by investing in <br> common stocks believed to <br> be undervalued. Income is <br> a secondary objective.<br>| &nbsp;&nbsp; T. Rowe Price Large Cap Value Portfolio <br> — Class E#<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: T. Rowe Price Associates,* <br> *Inc.*<br>| 0.68% | 12.16% | 10.39% | 10.20% |
| Seeks a competitive total <br> return primarily from <br> investing in fixed-income <br> securities.<br>| &nbsp;&nbsp; BlackRock Bond Income Portfolio — <br> Class E††<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: BlackRock Advisors, LLC*<br>| 0.53% | 7.79% | -0.32% | 2.22% |
| Seeks long-term growth of <br> capital.<br>| &nbsp;&nbsp; BlackRock Capital Appreciation Portfolio <br> — Class E††<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: BlackRock Advisors, LLC*<br>| 0.71% | 13.02% | 10.90% | 15.63% |
| Seeks a high level of current <br> income consistent with <br> prudent investment risk and <br> preservation of capital.<br>| &nbsp;&nbsp; BlackRock Ultra-Short Term Bond <br> Portfolio — Class E#<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: BlackRock Advisors, LLC*<br>| 0.52% | 3.99% | 2.93% | 1.95% |
| Seeks to provide a growing <br> stream of income over time <br> and, secondarily, long-term <br> capital appreciation and <br> current income.<br>| &nbsp;&nbsp; Brighthouse/Wellington Core Equity <br> Opportunities Portfolio — Class B#<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: Wellington Management* <br> *Company LLP*<br>| 0.87% | 7.54% | 8.02% | 10.45% |
| Seeks maximum capital <br> appreciation.<br>| &nbsp;&nbsp; Frontier Mid Cap Growth Portfolio — <br> Class D††<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: Frontier Capital Management* <br> *Company, LLC*<br>| 0.79% | 5.08% | 3.68% | 10.04% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment Objectives** | &nbsp;&nbsp; **Portfolio Company and**<br> ***Adviser/Sub-Adviser*** | &nbsp;&nbsp; **Current** <br> **Expenses** | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> (as of 12/31/2025) | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> (as of 12/31/2025) | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> (as of 12/31/2025) |
| **Investment Objectives** | &nbsp;&nbsp; **Portfolio Company and**<br> ***Adviser/Sub-Adviser*** | &nbsp;&nbsp; **Current** <br> **Expenses** | &nbsp;&nbsp; **1**<br> **Year**<br>| &nbsp;&nbsp; **5**<br> **Year**<br>| &nbsp;&nbsp; **10**<br> **Year**<br>|
| Seeks long-term growth of <br> capital.<br>| &nbsp;&nbsp; Jennison Growth Portfolio — Class B††<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: Jennison Associates LLC*<br>| 0.79% | 13.72% | 10.01% | 16.41% |
| Seeks a favorable total <br> return through investment <br> in a diversified portfolio.<br>| &nbsp;&nbsp; MFS® Total Return Portfolio — Class F#<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: Massachusetts Financial* <br> *Services Company*<br>| 0.82% | 10.89% | 6.20% | 7.44% |
| Seeks long-term growth of <br> capital.<br>| &nbsp;&nbsp; T. Rowe Price Large Cap Growth <br> Portfolio — Class B#<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: T. Rowe Price Associates,* <br> *Inc.*<br>| 0.81% | 15.45% | 9.37% | 14.10% |
| Seeks to maximize total <br> return consistent with <br> preservation of capital.<br>| &nbsp;&nbsp; Western Asset Management Strategic <br> Bond Opportunities Portfolio — Class A#<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: Western Asset Management* <br> *Company LLC*<br>| 0.57% | 9.07% | 1.42% | 4.03% |
| Seeks to maximize total <br> return consistent with <br> preservation of capital and <br> maintenance of liquidity.<br>| &nbsp;&nbsp; Western Asset Management <br> U.S. Government Portfolio — Class A#<br> *Brighthouse Investment Advisers, LLC*<br> *Subadviser: Western Asset Management* <br> *Company LLC*<br>| 0.50% | 7.07% | 0.59% | 1.82% |
| Seeks reasonable income. <br> The fund will also consider <br> the potential for capital <br> appreciation. The fund's <br> goal is to achieve a yield <br> which exceeds the <br> composite yield on the <br> securities comprising the <br> S&P 500® Index.<br>| &nbsp;&nbsp; Equity-Income Portfolio — Service <br> Class 2<br> *Fidelity Management & Research* <br>*Company LLC*<br> *Subadviser: FMR UK, FMR HK, and FMR* <br> *Japan*<br>| 0.71% | 18.75% | 12.23% | 11.32% |
| Seeks long-term growth of <br> capital.<br>| &nbsp;&nbsp; Mid Cap Portfolio — Service Class 2<br> *Fidelity Management & Research* <br>*Company LLC*<br> *Subadviser: FMR UK, FMR HK, and FMR* <br> *Japan*<br>| 0.80% | 11.49% | 9.83% | 10.31% |
| Seeks to maximize income <br> while maintaining <br> prospects for capital <br> appreciation.<br>| &nbsp;&nbsp; Franklin Income VIP Fund — Class 2<br> *Franklin Advisers, Inc.*<br>| 0.72% | 12.56% | 7.66% | 7.30% |
| Seeks capital appreciation, <br> with income as a secondary <br> goal.<br>| &nbsp;&nbsp; Franklin Mutual Shares VIP Fund — <br> Class 2<br> *Franklin Mutual Advisers, LLC*<br>| 0.94% | 11.52% | 9.20% | 7.53% |
| Seeks long-term growth of <br> capital.<br>| &nbsp;&nbsp; ClearBridge Variable Mid Cap Portfolio <br> — Class I<br> *Legg Mason Partners Fund Advisor, LLC*<br> *Subadviser: ClearBridge Investments,* <br> *LLC*<br>| 0.82% | 4.35% | 4.50% | 7.50% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment Objectives** | &nbsp;&nbsp; **Portfolio Company and**<br> ***Adviser/Sub-Adviser*** | &nbsp;&nbsp; **Current** <br> **Expenses** | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> (as of 12/31/2025) | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> (as of 12/31/2025) | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> (as of 12/31/2025) |
| **Investment Objectives** | &nbsp;&nbsp; **Portfolio Company and**<br> ***Adviser/Sub-Adviser*** | &nbsp;&nbsp; **Current** <br> **Expenses** | &nbsp;&nbsp; **1**<br> **Year**<br>| &nbsp;&nbsp; **5**<br> **Year**<br>| &nbsp;&nbsp; **10**<br> **Year**<br>|
| Seeks long-term growth of <br> capital.<br>| &nbsp;&nbsp; ClearBridge Variable Small Cap Growth <br> Portfolio — Class I<br> *Legg Mason Partners Fund Advisor, LLC*<br> *Subadviser: ClearBridge Investments,* <br> *LLC*<br>| 0.81% | 9.23% | -0.17% | 9.38% |
| Seeks a balance of growth <br> of capital and income.<br>| &nbsp;&nbsp; Franklin Multi-Asset Variable <br> Conservative Growth Fund — Class I‡<br> *Legg Mason Partners Fund Advisor, LLC*<br> *Subadviser: Franklin Advisers, Inc.*<br>| 0.59% | 12.76% | 6.69% | 7.70% |
| Seeks capital appreciation. | &nbsp;&nbsp; Franklin Multi-Asset Variable Growth <br> Fund — Class I‡<br> *Legg Mason Partners Fund Advisor, LLC*<br> *Subadviser: Franklin Advisers, Inc.*<br>| 0.78% | 16.56% | 11.01% | 10.59% |
| Seeks long-term growth of <br> capital.<br>| &nbsp;&nbsp; Franklin Multi-Asset Variable Moderate <br> Growth Fund — Class I#‡<br> *Legg Mason Partners Fund Advisor, LLC*<br> *Subadviser: Franklin Advisers, Inc.*<br>| 0.76% | 14.86% | 9.31% | 9.45% |
| Seeks to maximize total <br> return, consistent with <br> prudent investment <br> management and liquidity <br> needs, by investing to <br> obtain a dollar weighted <br> average effective duration <br> that is normally within 30% <br> of the average duration of <br> the domestic bond market <br> as a whole.<br>| &nbsp;&nbsp; Western Asset Core Plus VIT Portfolio — <br> Class I#<br> *Legg Mason Partners Fund Advisor, LLC*<br> *Subadvisers: Western Asset Management* <br> *Company, LLC; Western Asset* <br> *Management Company Limited; Western* <br> *Asset Management Company Ltd;* <br> *Western Asset Management Company* <br> *Pte. Ltd.*<br>| 0.54% | 7.75% | -1.44% | 2.11% |
| Seeks long-term capital <br> appreciation.<br>| &nbsp;&nbsp; LVIP ClearBridge Appreciation Fund — <br> Class I#<br> *Legg Mason Partners Fund Advisor, LLC*<br> *Subadviser: ClearBridge Investments,* <br> *LLC*<br>| 0.70% | 14.50% | 12.72% | 13.34% |
| Seeks dividend income, <br> growth of dividend income <br> and long-term capital <br> appreciation.<br>| &nbsp;&nbsp; LVIP ClearBridge Dividend Strategy Fund <br> — Class I††<br> *Legg Mason Partners Fund Advisor, LLC*<br> *Subadviser: ClearBridge Investments,* <br> *LLC*<br>| 0.75% | 12.62% | 11.86% | 12.46% |
| Seeks dividend income, <br> growth of dividend income <br> and long-term capital <br> appreciation.<br>| &nbsp;&nbsp; LVIP ClearBridge Dividend Strategy Fund <br> — Class II#<br> *Legg Mason Partners Fund Advisor, LLC*<br> *Subadviser: ClearBridge Investments,* <br> *LLC*<br>| 1.00% | 12.46% | 11.69% | 12.29% |
| Seeks long-term growth of <br> capital.<br>| &nbsp;&nbsp; LVIP ClearBridge Large Cap Growth <br> Fund — Class I#<br> *Legg Mason Partners Fund Advisor, LLC*<br> *Subadviser: ClearBridge Investments,* <br> *LLC*<br>| 0.74% | 8.62% | 10.57% | 14.46% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investment Objectives** | &nbsp;&nbsp; **Portfolio Company and**<br> ***Adviser/Sub-Adviser*** | &nbsp;&nbsp; **Current** <br> **Expenses** | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> (as of 12/31/2025) | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> (as of 12/31/2025) | &nbsp;&nbsp; **Average Annual**<br> **Total Returns**<br> (as of 12/31/2025) |
| **Investment Objectives** | &nbsp;&nbsp; **Portfolio Company and**<br> ***Adviser/Sub-Adviser*** | &nbsp;&nbsp; **Current** <br> **Expenses** | &nbsp;&nbsp; **1**<br> **Year**<br>| &nbsp;&nbsp; **5**<br> **Year**<br>| &nbsp;&nbsp; **10**<br> **Year**<br>|
| Seeks long-term growth of <br> capital as its primary <br> objective. Current income <br> is a secondary objective.<br>| &nbsp;&nbsp; LVIP ClearBridge Large Cap Value Fund <br> — Class I#<br> *Legg Mason Partners Fund Advisor, LLC*<br> *Subadviser: ClearBridge Investments,* <br> *LLC*<br>| 0.72% | 10.20% | 10.11% | 10.01% |
| Seeks capital appreciation <br> by investing in a diversified <br> portfolio of securities <br> consisting primarily of <br> common stocks.<br>| &nbsp;&nbsp; Victory Pioneer Mid Cap Value VCT <br> Portfolio — Class II#<br> *Victory Capital Management Inc.*<br>| 1.02% | 10.86% | 10.88% | 8.73% |

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#

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.

Until May 1, 2026, the name of this Underlying Fund is American Funds Global Small Capitalization Fund.

The following lists the Fixed Account option currently available under the Contract. The Fixed Account listed below will also be used if you participate in a dollar cost averaging program and instruct us to make transfers to or from the Fixed Account. We may change the features of the Fixed Account listed below, offer new Fixed Account investment options, and terminate existing Fixed Account investment options. We will provide you with written notice before doing so.

**The Fixed Account is not available for new investments at this time except through our Special Dollar Cost Averaging Program.** 

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| | | |
|:---|:---|:---|
| **Name** | **Term (Guarantee Period)** | **Guaranteed Minimum Interest Rate** |
| Fixed Account | 12 months | 3% |

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***Appendix B***

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***The Fixed Account*** 

***The Fixed Account is currently unavailable for new investment except through our Special Dollar Cost Averaging Program*** 

The Fixed Account is part of the Company's general account assets. These general account assets include all assets of the Company other than those held in the Separate Accounts sponsored by the Company or its affiliates.

Disclosure regarding the Fixed Account and the general account may be subject to certain provisions of the federal securities laws relating to the accuracy and completeness of statements made in this prospectus.

Under the Fixed Account, the Company assumes the risk of investment gain or loss, guarantees a specified interest rate, and guarantees a specified periodic Annuity Payment. Contract Value allocated to the Fixed Account, interest credited to the Fixed Account and amounts paid under a fixed payment option are subject to our financial strength and claims paying ability. The investment gain or loss of the Separate Account or any of the Variable Funding Options does not affect the Fixed Account Contract Value, or the dollar amount of fixed Annuity Payments made under any payout option.

We guarantee that, at any time, the Fixed Account Contract Value will not be less than the amount of the Purchase Payments allocated to the Fixed Account, plus interest credited as described below, less any applicable premium taxes or prior withdrawals.

Purchase Payments allocated to the Fixed Account and any transfers made to the Fixed Account become part of the Company's general account, which supports insurance and annuity obligations. We reserve the right to restrict Purchase Payments into the Fixed Account whenever the credited interest rate on the Fixed Account is equal to the minimum guaranteed interest rate specified in your Contract. The minimum guaranteed interest rate applicable to any Contract is 3%. Because of exemptive and exclusionary provisions, interests in the Fixed Account have not been registered under the Securities Act of 1933, and neither the Fixed Account nor the general account is registered or regulated under the Investment Company Act of 1940.We will invest the assets of the Fixed Account at our discretion. Investment income from such Fixed Account assets will be allocated to us and to the Contracts participating in the Fixed Account.

Investment income from the Fixed Account allocated to us includes compensation for mortality and expense risks borne by us in connection with Fixed Account Contracts. The amount of such investment income allocated to the Contracts will vary from year to year in our sole discretion at such rate or rates as we prospectively declare from time to time.

We guarantee the initial rate for any allocations into the Fixed Account for one year from the date of such allocation. We guarantee subsequent renewal rates for the calendar quarter. We also guarantee that for the life of the Contract we will credit interest at a rate not less than the minimum interest rate allowed by state law. We reserve the right to change the rate subject to applicable state law. We will determine any interest we credit to amounts allocated to the Fixed Account in excess of the minimum guaranteed rate in our sole discretion. You assume the risk that interest credited to the Fixed Account may not exceed the minimum guaranteed rate for any given year. We have no specific formula for determining the interest rate. Some factors we may consider are regulatory and tax requirements, general economic trends and competitive factors.

***Transfers*** 

You may make transfers from the Fixed Account to any available Variable Funding Option(s) twice a year during the 30 days following the semiannual anniversary of the Contract Date. We limit transfers to an amount of up to 15% of the Fixed Account Contract Value on the semiannual Contract Date anniversary. (This restriction does not apply to transfers under the Dollar Cost Averaging Program.)

It is important to note that due to the 15% transfer allowance restriction, it could take 10 years or more to fully transfer your balance from the Fixed Account to the destination Variable Funding Option(s). This is because each successive withdrawal would be based on 15% of a decreasing Contract Value in the Fixed Account, resulting in smaller withdrawal amounts and an extended withdrawal period. For example (based on the assumptions above), if your initial Contract Value in the Fixed Account is $100, the transfer allowance only allows you to transfer up to $30 that Contract

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Year. If You transfer the maximum transfer allowance that Contract Year, you may only transfer up to $21 the following Contract Year based on the transfer allowance of the $70 Contract Value remaining in the Fixed Account for such Contract Year. It is important to consider whether this 15% transfer allowance restriction fits your risk tolerance and time horizon.

Amounts previously transferred from the Fixed Account to Variable Funding Options may not be transferred back to the Fixed Account for a period of at least six months from the date of transfer. We reserve the right to waive either of these restrictions. Where permitted by state law, we reserve the right to restrict transfers into the Fixed Account whenever the credited interest rate on the Fixed Account is equal to the minimum guaranteed interest rate specified in your Contract.

Automated transfers from the Fixed Account to any of the Variable Funding Options may begin at any time. Automated transfers from the Fixed Account may not deplete your Fixed Account value in a period of less than twelve months from your enrollment in the Dollar Cost Averaging Program.

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***Appendix C***

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***Waiver of Withdrawal Charge for Nursing Home Confinement*** 

**(Available only if the owner is age 70 or younger on the date the Contract is issued.)** 

If, after the first Contract Year and before the Maturity Date, and you begin confinement in an eligible nursing home, you may surrender or make withdrawal, subject to the maximum withdrawal amount described below, without incurring a withdrawal charge. In order for the Company to waive the withdrawal charge, the withdrawal must be made during continued confinement in an eligible nursing home after the qualifying period has been satisfied, or within sixty (60) days after such confinement ends. The qualifying period is confinement in an eligible nursing home for ninety (90) consecutive days. We will require proof of confinement in a form satisfactory to us, which may include certification by a licensed physician that such confinement is medically necessary. The Nursing Home Confinement Rider terminates on the Maturity Date.

An eligible nursing home is defined as an institution or special nursing unit of a hospital which:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is Medicare approved as a provider of skilled nursing care services; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is not, other than in name only, an acute care hospital, a home for the aged, a retirement home, a rest home, a community living center, or a place mainly for the treatment of alcoholism.

**OR** 

Meets all of the following standards:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is licensed as a nursing care facility by the state in which it is licensed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) is either a freestanding facility or a distinct part of another facility such as a ward, wing, unit or swing-bed of a hospital or other facility;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) provides nursing care to individuals who are not able to care for themselves and who require nursing care;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) provides, as a primary function, nursing care and room and board; and charges for these services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) provides care under the supervision of a licensed physician, registered nurse (RN) or licensed practical nurse (LPN);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) may provide care by a licensed physical, respiratory, occupational or speech therapist; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) is not, other than in name only, an acute care hospital, a home for the aged, a retirement home, a rest home, a community living center, or a place mainly for the treatment of alcoholism.

We will not waive withdrawal charges if confinement is due to one or more of the following causes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) mental, nervous, emotional or personality disorder without demonstrable organic disease, including, but not limited to, neurosis, psychoneurosis, psychopathy or psychosis

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the voluntary taking or injection of drugs, unless prescribed or administered by a licensed physician

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the voluntary taking of any drugs prescribed by a licensed physician and intentionally not taken as prescribed

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) sensitivity to drugs voluntarily taken, unless prescribed by a physician

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) drug addiction, unless addiction results from the voluntary taking of drugs prescribed by a licensed physician, or the involuntary taking of drugs.

**Filing a claim**: You must provide the Company with written notice of a claim during continued confinement after the 90-day qualifying period, or within sixty days after such confinement ends.

The maximum withdrawal amount for which we will waive the withdrawal charge is the Contract Value on the next valuation date following written proof of claim, less any Purchase Payments made within a one-year period before confinement in an eligible nursing home begins, less any Purchase Payment made on or after the Annuitant's 71st birthday.

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We will pay any withdrawal requested under the scope of this waiver as soon as we receive proper written proof of your claim, and we will pay the withdrawal in a lump sum. You should consult with your tax adviser regarding the tax impact of any withdrawals taken from your Contract.

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***Appendix D***

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***State and Financial Intermediary Variations*** 

The availability of the investment options, Contract benefits, or other Contract features described in this prospectus may vary depending on the state through which your Contract is issued or the selling firm through which it is sold. Also, you should note that certain Contract features and/or benefits described in this prospectus may vary, may not be available in your state, or may have been approved in your state after your Contract was issued and cannot be added. The state in which your Contract is issued impacts whether or not certain features, riders, charges or fees are available or will vary under your Contract. These variations are reflected in your Contract and in riders to your Contract.

There may be variations in the availability of investment options, Contract benefits, and other Contract features described in this prospectus—including restrictions, limitations, and other variations—that we are not aware of but which may apply depending on the state through which your Contract is issued or the selling firm through which it was purchased or continues to be serviced. For example, your financial representative may not recommend a particular investment option or Contract benefit to you. Any such variations are unknown to us. We cannot identify any such variations in this appendix without unreasonable effort or incurring unreasonable expense.

**You should discuss with your financial representative any limitations, restrictions, or other variations related to the investment options, Contract benefits, or other Contract features available to you through your financial representative.**

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The statement of additional information (SAI) includes additional information about the Separate Account and the Company. The SAI is dated the same as this prospectus and is incorporated by reference. The SAI is available, without charge, upon request. For a free copy of the SAI or to request more information about the Contract, and to make investor inquiries, call us at (888) 243-1932.

Reports and other information about the Separate Account and the Company 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 C000068847 <br>

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