09/09/2024 | Press release | Distributed by Public on 09/09/2024 20:54
BRIGHTHOUSE LIFE INSURANCE COMPANY OF NY
Brighthouse Variable Annuity Account B
Brighthouse Prime Options
Supplement dated September 9, 2024 to the Prospectus dated April 29, 2024
This supplement revises information in the prospectus dated April 29, 2024 for Brighthouse Prime Options variable annuity contracts issued by Brighthouse Life Insurance Company of NY ("we," "us," or "our") to reflect (1) a decrease to the Rollup Rate Period End Date, and (2) an increase to the Guaranteed Lifetime Withdrawal Benefit (GLWB) rider GLWB Withdrawal Rates and GLWB Lifetime Guarantee Rates available under the FlexChoice Access Level variation of the GLWB rider. These changes are effective September 23, 2024 and this supplement explains which rates you will receive if you purchase a contract.
This supplement should be read in its entirety and kept together with your prospectus for future reference. If you would like a copy of the prospectus, write to us at: Brighthouse Life Insurance Company of NY, Annuity Service Center, P.O. Box 4301, Clinton, IA 52733-4301, or call us at (888) 243-1932, to request a free copy. Certain terms used in this supplement have special meanings. If a term is not defined in this supplement, it has the meaning given to it in the prospectus.
Contracts issued prior to September 23, 2024 will receive the Rollup Rate Period End Date and the FlexChoice Access GLWB Withdrawal Rates and GLWB Lifetime Guarantee Rates indicated in the April 29, 2024 prospectus.
Contracts issued on and after September 23, 2024 will receive the new Rollup Rate Period End Date and FlexChoice Access GLWB Withdrawal Rates and GLWB Lifetime Guarantee Rates indicated below.
Regulation 60 Transactions. Certain contract purchases involving a replacement of another insurance contract are subject to New York Regulation No. 60 (11 NYCRR 51), and different transaction rules will apply. Please consult with your financial representative to determine if one of the below processes will apply to your transaction.
Necessary paperwork for a Regulation 60 transaction initiated and contracts issued prior to September 23, 2024 will receive the Rollup Rate Period End Date and the FlexChoice Access GLWB Withdrawal Rates and GLWB Lifetime Guarantee Rates indicated in the April 29, 2024 prospectus.
Necessary paperwork for a Regulation 60 transaction initiated prior to September 23, 2024 and contracts issued on and after September 23, 2024 will receive the new Rollup Rate Period End Date and FlexChoice Access GLWB Withdrawal Rates and GLWB Lifetime Guarantee Rates indicated below.
Necessary paperwork for a Regulation 60 transaction initiated and contracts issued on and after September 23, 2024 will receive the new Rollup Rate Period End Date and FlexChoice Access GLWB Withdrawal Rates and GLWB Lifetime Guarantee Rates indicated below.
SUPP-FCPONY-0924
New FlexChoice Access GLWB Rate Table effective September 23, 2024
Under "Living Benefits-Guaranteed Lifetime Withdrawal Benefit-GLWB Rate Table" in the prospectus, for FlexChoice Access Level, 1) replace the "-" in the column "Date Last Available" with "09/22/24," and 2) insert the following new rows as the first rows of the FlexChoice Access Level rate table:
FlexChoice Access Level
Offers a steady GLWB Withdrawal Rate and GLWB Lifetime Guarantee Rate throughout your lifetime.
Date First Available |
Date Last Available |
Rollup Rate |
Rollup Rate
Period End |
Lifetime Age |
Minimum Issue Age / Minimum Spousal Age |
GLWB Withdrawal Rate
(When Account Value |
GLWB Lifetime (When Account Value is reduced to $0) |
Rider Charge |
||||||||||||
09/23/24 |
- | 5.00% |
5th Contract Anniversary |
591⁄2 |
Minimum Issue Age: You must be at least age 50
years old at
Minimum |
Age at 1st Withdrawal
After Age |
Withdrawal Rate |
Single Lifetime Guarantee Rate |
Joint Rate |
Maximum Charge: 2.00% of the Benefit Base Current Charge: 1.35% of the Benefit Base |
||||||||||
591⁄2 to less than 60 |
4.75% | 4.75% | 4. 05% | |||||||||||||||||
60 to less than 65 |
4.75% | 4.75% | 4. 05% | |||||||||||||||||
65 to less than 70 |
5.75% | 5.75% | 4.90% | |||||||||||||||||
70 to less than 75 |
6.20% | 6.20% | 5.25% | |||||||||||||||||
75 to less than 80 |
6.70% | 6.70% | 5.70% | |||||||||||||||||
80 to less than 85 |
7.35% | 7.35% | 6.25% | |||||||||||||||||
85 to less than 90 |
8.10% | 8.10% | 6.90% | |||||||||||||||||
90 to less than 95 |
9.10% | 9.10% | 7.75% | |||||||||||||||||
95+ | 10.40% | 10.40% | 8.85% |
1. |
When the Account Value is greater than zero, only one GLWB Withdrawal Rate will apply. Your GLWB Withdrawal Rate is determined by when you take your first withdrawal after the Lifetime Withdrawal Age and is independent of your election of payments using the applicable Single or Joint Lifetime Guarantee Rate when your Account Value is reduced to zero. |
THIS SUPPLEMENT SHOULD BE READ AND RETAINED FOR FUTURE REFERENCE