ANNUITIES Single Premium Deferred

Brighthouse Shield
®

Level Annuity
Performance Lock Feature: A Valuable
Tool for Retirement Portfolios

Brighthouse Shield® Level Select 6-Year Annuity, Brighthouse Shield® Level Select 3-Year Annuity, and Brighthouse Shield® Level Select Advisory Annuity
are part of the Shield annuity suite of single premium deferred annuity products, collectively referred to as “Shield® Level annuities” or “Shield® annuities.”
This material provides a general overview of the Shield annuity suite of single premium deferred annuity products. Please refer to the product fact card
and prospectus for complete details regarding the Shield annuity being discussed. Product availability and features may vary by state or firm.
01 Brighthouse Shield Level Annuity

Important Terms and Definitions

Shield Option1 Each Shield Option has an associated term, index, Shield Rate (level of protection), and
rate crediting type.

Term The number of years the Shield Option is in effect.

Index A choice of well-known market indices to track performance:

• S&P 500® IndexA • Russell 2000® IndexB • MSCI EAFE IndexC • Nasdaq-100® IndexD

Shield Rate2 The amount of any negative index performance absorbed by the issuing insurance
company at the end of the term (e.g., 10% level of protection).

Rate Crediting Includes Cap Rate, Step Rate and Step Rate Edge. Cap Rate is the maximum
Type 3,4 performance that can be earned at the end of the term based on index performance.
The Performance Lock feature is available only with Shield Options with a Cap Rate
and is described on the following pages.

Index Value The published closing value of an index on any given business day.

Index For any Shield Option in which a Performance Lock has taken effect, index performance
Performance is the percentage change in the index value measured from the term start date to the date
on which the Performance Lock takes effect.

Interim Value5 The value of each Shield Option calculated on any business day prior to the end of the
term. The Interim Value is the amount available for:
• Partial withdrawals or full surrenders (reduced by withdrawal charge, if applicable)
• Annuitization
• Death benefit6
For each Shield Option, the Interim Value is calculated based on the performance of
the associated index on a given day, up to the accrued Shield Rate and accrued rate
crediting type. For example, halfway through the term, the Shield Rate and rate crediting
type would be half-accrued.

1
The Shield Options available may vary by state or firm.
2
The Shield Rate accrues daily and fully accrues on the term end date. If a withdrawal is taken from the contract prior to the term end
date, negative index performance could lead to a loss if it exceeds the accrued Shield Rate. See the prospectus for more details.
3
The rate crediting type accrues daily and fully accrues on the term end date. If a withdrawal is taken from the contract prior to the term
end date, any gain may be limited by the applicable accrued rate crediting type. See the prospectus for more details.
4
The Shield Rate (level of protection) and rate crediting type accrue daily and fully accrue on the term end date. In exchange for a
predetermined percentage of growth, Step Rates and Edge Rates are generally lower than Cap Rates for the same Shield Options.
Additionally, Edge Rates are generally lower than Step Rates for the same Shield Options. Rates will vary based on the selected term,
index, and level of protection. If index performance is equal to or greater than zero but less than the Step Rate or Edge Rate, and you
chose a Cap Rate for your Shield Option, the Performance Rate adjustment will be lower than it otherwise would have been if you
had chosen Step Rate or Step Rate Edge. Alternatively, if index performance is positive and exceeds the Step Rate or Edge Rate, and
you chose either Step Rate or Step Rate Edge for your Shield Option, the Performance Rate adjustment will be lower than it otherwise
would have been if you had chosen a Cap Rate.
5
Each business day, we assign a value to each Shield Option, which is known as Interim Value. This value also represents the amount
you can withdraw from each of the Shield Options on any day before the term end date. The Shield Rate and rate crediting type
(depending on the chosen Shield Option) accrue daily throughout the term and will not fully accrue until the term end date, which
will affect your Interim Value. Additionally, Interim Value is used to measure the impact of a partial withdrawal on the remaining
investment amount in a Shield Option. The amount of a partial withdrawal, and any applicable withdrawal charges, will reduce
the investment amount for each Shield Option proportionally and may adversely impact the investment amount in your Shield Option
and any future amounts available for withdrawal. If a Locked Index Value has taken effect, you may receive less than you would
have received had you not exercised a Locked Index Value due to the Performance Lock Factor.
6
For contracts issued with a Return of Premium Death Benefit, the Interim Value may be lower than the death benefit.
02 Brighthouse Shield Level Annuity

Another Tool to Help

Reach Retirement Goals
A Brighthouse Shield® Level Annuity can help use a portion of retirement assets to participate in market
growth opportunities with a level of downside protection7 other investment vehicles may not provide.
Performance Lock is an added feature that allows you more control over a part of your portfolio for the
remainder of the term by locking in growth and protecting assets from future market volatility.8

Understanding the Performance Lock Feature

Our Performance Lock feature, which is available on Shield Options with a Cap Rate, allows you
to lock positive index performance once during your term. Once the Performance Lock takes
effect, it provides certainty for a portion of your portfolio and protection from future volatility.
This allows your financial professional to help guide you toward your retirement goals with one
less variable to consider.

7
Participate in rising markets up to your rate crediting type. Growth opportunities are based on the elected rate crediting type. The
Shield Rate (level of protection) and rate crediting type accrue daily and fully accrue on the term end date. The issuing insurance
company will absorb losses up to your level of protection in falling markets. Your account value will be reduced by any negative index
performance beyond your elected level of protection. If you do not elect the Fixed Account, you could see a substantial loss if the
market declines more than your level of protection.
8
Once the Performance Lock takes effect, a Performance Lock Factor applies in the calculation of Interim Value prior to the end of the
term and the calculation of the investment amount at the end of the term. The Performance Lock Factor will result in a reduction of the
Interim Value, and you may receive less than you would have received had the Performance Lock not been in effect. The index value of
the selected index may increase above the Locked Index Value; however, this higher index value will not be utilized in the calculation
of your investment amount at the end of the term. Performance Lock is not available on Shield Options with a Step Rate or Edge Rate.
Performance Lock is only available for contracts issued by Brighthouse Life Insurance Company, based on applications received on or
after 08/02/2021. This feature is not available in New York.
How Performance Lock Works
• On any business day during a term, you may choose to lock the closing index value of an
applicable Shield Option as long as it’s higher than the index value at the beginning of the
term. The Locked Index Value will be used for the remainder of the term to calculate the
index performance for the Shield Option.
• Once the Performance Lock has taken effect, a Performance Lock Factor is applied to the
Interim Value each day during the term and is used in the calculation of the investment
amount at the term end date.9
• The Performance Lock Factor will vary based on term length.

1-Year 3-Year 6-Year

Term Term Term

Performance Lock Factor 97% 96% 95%

The Performance Lock can take effect one time during a term. Please keep in mind
the following information:
• The Locked Index Value is the closing index value on the business day in which the
Performance Lock takes effect.
• Any Performance Lock request received in good order after the close of business
will be considered received on the next business day.
• The Performance Lock is irrevocable once it has taken effect.

9
Interim Value of a Shield Option after Performance Lock takes effect will not be less than the investment amount at the beginning of
the term, reduced for any withdrawals.
04 Brighthouse Shield Level Annuity

Benefits of Locking
Index Performance
Markets can be unpredictable. That’s why Performance Lock allows you to lock in the
positive index performance of your Shield annuity once during your term. The benefits
of locking in index performance through the Performance Lock feature are:
• The potential for your Interim Value to increase as your Cap Rate continues to accrue10
• The certainty it provides for a portion of your portfolio as well as protection from
future market volatility for the remainder of your term
• The ability to stay in your Shield Option for the remainder of the term or transfer the
Interim Value on any contract anniversary prior to the end of the term

If applicable, Performance Lock can be activated by contacting

Brighthouse Financial.

10
The Cap Rate accrues daily and fully accrues on the term end date. For example, halfway through the term, half of the Cap Rate that
applies for the entire term would be accrued. If you lock index performance above the accrued Cap Rate, your Interim Value will
continue to grow. If you lock index performance below the accrued Cap Rate, you will not experience any additional growth throughout
the remainder of the term.
Let’s Look at
Some Examples
Meet Gabriela
Gabriela is 60 years old. She purchased a Shield annuity to add the
opportunity for growth and a level of protection to her portfolio.
Her Shield annuity features:

Term Cap Rate Shield Rate Premium

6 years 75 25 $100 % % K

The markets since the start of the term have been volatile, and Gabriela is worried that her retirement
portfolio will be negatively affected. She decides to meet with her financial professional and they agree
to exercise the Performance Lock feature, which went into effect on the contract’s 4th anniversary.

Hypothetical example for illustrative purposes only.

06 Brighthouse Shield Level Annuity

Locking in Gains
During Positive Index
Performance
It’s a good idea to work with a financial professional to determine whether and when the
Performance Lock feature should be in effect on your Shield annuity. While you will be
locking in positive index performance, you may also miss out on additional index growth
throughout the remainder of the term. Additionally, you are forgoing any potential future
growth if you lock in index performance below the accrued Cap Rate.

100%

75%

50%

25%

0%
Issue 1st 2nd 3rd 4th 5th 6th
Anniversary Anniversary Anniversary Anniversary Anniversary Anniversary

Index Performance Locked Index Performance Performance Rate Accrued Cap Rate
Performance Lock (exercised on the 4th contract anniversary)

Locked
Index Index Index Accrued Performance Interim Performance
Anniversary Value Performance Performance Cap Rate Rate Value Lock Factor
0 1,000 – – – – $100,000 –
1 1,300 30% – 12.50% 12.50% $112,500 –
2 1,600 60% – 25.00% 25.00% $125,000 –
3 1,500 50% – 37.50% 37.50% $137,500 –
4 1,750 75% 75% 50.00% 50.00% $142,500* 95%
5 1,900 90% 75% 62.50% 62.50% $154,375* 95%
6 1,350 35% 75% 75.00% 75.00% $166,250* 95%

* After a Performance Lock, the Interim Value is adjusted by a Performance Lock Factor of 95% through
the end of the term.

Without Performance Lock

Locked
Index Index Index Accrued Performance Interim Performance
Anniversary Value Performance Performance Cap Rate Rate Value Lock Factor
0 1,000 – – – – $100,000 –
1 1,300 30% – 12.50% 12.50% $112,500 –
2 1,600 60% – 25.00% 25.00% $125,000 –
3 1,500 50% – 37.50% 37.50% $137,500 –
4 1,750 75% – 50.00% 50.00% $150,000 –
5 1,900 90% – 62.50% 62.50% $162,500 –
6 1,350 35% – 75.00% 35.00% $135,000 –

As you can see in this example, by exercising the Performance Lock feature, Gabriela was able to lock in
index performance of 75%. This ensured that she experienced continued growth for the remainder of her
term, even though the index performance declined to 35% at the completion of the term.
08 Brighthouse Shield Level Annuity

Limiting Losses During

Market Volatility
While the Performance Lock feature offers an added layer of certainty in up markets, the
protection it can provide in down markets is also a key benefit. In the event of a market
downturn, exercising the Performance Lock can help prevent future losses. However, this
can also mean missing out on future growth should market volatility subside.
100%
Remember, Performance Lock can only take effect if the index value is higher than
it was on the date the term began.
75%

45%

20%

0%
-5%

-30%
Issue 1st 2nd 3rd 4th 5th 6th
Anniversary Anniversary Anniversary Anniversary Anniversary Anniversary

Index Performance Performance Rate Accrued Cap Rate Accrued Shield Rate
Performance Lock (exercised on the 4th contract anniversary)

Locked Accrued
Index Index Index Accrued Shield Performance Interim Performance
Anniversary Value Performance Performance Cap Rate Rate Rate Value Lock Factor
0 1,000 – – – – – $100,000 –
1 1,150 15% – 12.50% 4.17% 12.50% $112,500 –
2 1,200 20% – 25.00% 8.33% 20.00% $120,000 –
3 1,110 11% – 37.50% 12.50% 11.00% $111,000 –
4 1,070 7% 7% 50.00% 16.67% 7.00% $101,650* 95%
5 975 -2.50% 7% 62.50% 20.83% 7.00% $101,650* 95%
6 700 -30% 7% 75.00% 25.00% 7.00% $101,650* 95%

* After a Performance Lock, the Interim Value is adjusted by a Performance Lock Factor of 95% through
the end of the term.

Without Performance Lock

Locked Accrued
Index Index Index Accrued Shield Performance Interim Performance
Anniversary Value Performance Performance Cap Rate Rate Rate Value Lock Factor
0 1,000 – – – – – $100,000 –
1 1,150 15% – 12.50% 4.17% 12.50% $112,500 –
2 1,200 20% – 25.00% 8.33% 20.00% $120,000 –
3 1,110 11% – 37.50% 12.50% 11.00% $111,000 –
4 1,070 7% – 50.00% 16.67% 7.00% $107,000 –
5 975 -2.50% – 62.50% 20.83% 0.00% $100,000 –
6 700 -30% – 75.00% 25.00% -5.00% $95,000 –

This example shows the versatility of the Performance Lock feature during a market downturn. In this case,
the Performance Lock takes effect on Gabriela’s 4th contract anniversary, guarding against future losses
and locking in index performance of 7% for the remainder of the term, even though the index performance
declines to -30% at the completion of the term.
10 Brighthouse Shield Level Annuity

Curbing Gains
in Up Markets
While locking in positive index performance can ensure certainty for capturing future
growth, exercising the feature prior to a market upswing could lead to missing out on
additional index growth for the remainder of the term.

100%

75%

50%

25%

0%
Issue 1st 2nd 3rd 4th 5th 6th
Anniversary Anniversary Anniversary Anniversary Anniversary Anniversary

Index Performance Locked Index Performance Performance Rate Accrued Cap Rate
Performance Lock (exercised on the 4th contract anniversary)

Locked
Index Index Index Accrued Performance Interim Performance
Anniversary Value Performance Performance Cap Rate Rate Value Lock Factor
0 1,000 – – – – $100,000 –
1 1,300 30% – 12.50% 12.50% $112,500 –
2 1,600 60% – 25.00% 25.00% $125,000 –
3 1,500 50% – 37.50% 37.50% $137,500 –
4 1,650 65% 65% 50.00% 50.00% $142,500* 95%
5 1,500 50% 65% 62.50% 62.50% $154,375* 95%
6 1,800 80% 65% 75.00% 65.00% $156,750* 95%

* After a Performance Lock, the Interim Value is adjusted by a Performance Lock Factor of 95% through
the end of the term.

Without Performance Lock

Locked
Index Index Index Accrued Performance Interim Performance
Anniversary Value Performance Performance Cap Rate Rate Value Lock Factor
0 1,000 – – – – $100,000 –
1 1,300 30% – 12.50% 12.50% $112,500 –
2 1,600 60% – 25.00% 25.00% $125,000 –
3 1,500 50% – 37.50% 37.50% $137,500 –
4 1,650 65% – 50.00% 50.00% $150,000 –
5 1,500 50% – 62.50% 62.50% $150,000 –
6 1,800 80% – 75.00% 75.00% $175,000 –

The example above shows how growth opportunities could be missed if the Performance Lock feature
is exercised before additional index growth is achieved. In this case, Gabriela exercises the Performance
Lock feature on her 4th contract anniversary, locking in index performance of 65%. Although exercising the
Performance Lock when she did protects her from the market downturn in Year 5, it also limits the gains
she receives in Year 6 to 65% instead of the 75% she would have received if she had never exercised the
Performance Lock feature.
12 Brighthouse Shield Level Annuity

Find Out More

The Performance Lock feature can help you lock in growth for the remainder of the
term and avoid the potential losses market volatility can cause. You should discuss
with your financial professional whether exercising the Performance Lock feature
on your Brighthouse Shield Level Annuity is the right move.

If selected, Performance Lock can be activated by

contacting Brighthouse Financial. For more information
on Shield annuities, go to brighthousefinancial.com
These examples are not representative of past or future performance for any Shield Option. Actual performance may be greater or
less than what is shown. Performance may differ due to the Shield Rate and rate crediting type. Shield annuities do not invest directly
in any index.
A
The S&P 500® is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and has been licensed for use by Brighthouse
Financial, Inc. S&P®, S&P 500®, US 500, The 500, iBoxx®, iTraxx® and CDX® are trademarks of S&P Global, Inc. or its affiliates (“S&P”);
Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been
licensed for use by SPDJI and sublicensed for certain purposes by Brighthouse Financial, Inc. Brighthouse Financial products are
not sponsored, endorsed, sold, or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates; and none of such parties make
any representation regarding the advisability of investing in such products, nor do they have any liability for any errors, omissions, or
interruptions of the S&P 500®.
B
The Russell 2000® Index is a trademark of Russell Investments and has been licensed for use by affiliates of Brighthouse Financial,
Inc. This annuity product is not sponsored, endorsed, sold, or promoted by Russell Investments, and Russell Investments makes no
representation regarding the advisability of investing in this annuity product.
C
 This annuity product is not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such products
or securities, or any index on which such products or securities are based. The annuity product prospectus contains a more detailed
description of the limited relationship MSCI has with affiliates of Brighthouse Financial, Inc.
D
 Nasdaq®, Nasdaq-100®, Nasdaq-100 Index®, and NDX® are registered trademarks of Nasdaq, Inc. (which, with its affiliates, is referred
to as the “Corporations”) and are licensed for use by Brighthouse Financial, Inc. Brighthouse Financial products have not been passed
on by the Corporations as to their legality or suitability and are not issued, endorsed, sold, or promoted by the Corporations. THE
CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THESE PRODUCTS.

This material must be preceded or accompanied by a prospectus for Brighthouse Shield Level Select 6-Year Annuity, Brighthouse
Shield Level Select 3-Year Annuity, or Brighthouse Shield Level Select Advisory Annuity, issued by Brighthouse Life Insurance
Company, which contains information about the contract’s features, risks, charges, and expenses. Clients should read the prospectus,
which is available from their financial professional, and consider its information carefully before investing. Brighthouse Financial
reserves the right to substitute any index at any time.
Brighthouse Shield Level Annuities are long-term investments designed for retirement purposes. They have limitations, exclusions,
charges, termination provisions, and terms for keeping them in force, and are not guaranteed by the broker/dealer, the insurance
agency, the underwriter, or any affiliates of those entities from which they were purchased. All representations and contract
guarantees, including the death benefit and annuity payout rates, are subject to the claims-paying ability and financial strength of
the issuing insurance company. Because the client agrees to absorb all losses beyond their chosen Shield Rate, there is a risk of
substantial loss of principal. Please refer to “Risk Factors” in the contract prospectus for more details.
Any discussion of taxes is for general informational purposes only, does not purport to be complete or cover every situation, and should
not be construed as legal, tax, or accounting advice. Clients should confer with their qualified legal, tax, and accounting professionals
as appropriate.
Shield® Level annuities are index-linked annuities issued by, and product guarantees are solely the responsibility of, Brighthouse Life
Insurance Company, Charlotte, NC 28277, on Policy Form L-22494 (09/12)-AV (“Brighthouse Financial”). These products are distributed
by Brighthouse Securities, LLC (member FINRA). All are Brighthouse Financial affiliated companies. Product availability and features
may vary by state or firm. The Performance Lock feature is not available in New York.
Brighthouse Financial® and its design are registered trademarks of Brighthouse Financial, Inc. and/or its affiliates.

• Not a Deposit • Not FDIC Insured • Not Insured by Any Federal Government Agency
• Not Guaranteed by Any Bank or Credit Union • May Lose Value

Brighthouse Life Insurance Company

11225 North Community House Road
Charlotte, NC 28277
brighthousefinancial.com

2210 CLVA997055-1
© 2023 BRIGHTHOUSE FINANCIAL, INC. 3626349.2[03/23/2025]