Brighthouse Financial expands flagship Shield level annuity suite with new product offering guaranteed income for life

CHARLOTTE, NC–(BUSINESS THREAD)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “Company”) (Nasdaq: BHF) today announced the expansion of its flagship Brighthouse Shield® Level Annuities suite with the launch of Brighthouse Shield Level Pay PlusSM Annuities, which are designed to help strengthen clients’ retirement portfolios by providing a guaranteed income stream for life.1,2 Shield Level Pay Plus annuities also offer clients opportunities to participate in market growth combined with a level of protection against volatility on the market, both key design features of the Shield. ® Level annuities.

“The financial impact of longevity has made guaranteed lifetime income an important consideration for retirees looking to help secure their financial future,” said Myles Lambert, director of distribution and marketing at Brighthouse Financial . “By providing a permanent source of retirement income, Shield Level Pay Plus annuities are designed to add a measure of certainty to clients’ retirement lifestyles.”

According to the Social Security Administration3, about one in three 65-year-olds will live to be at least 90, and about one in seven 65-year-olds will live to be at least 95. Not surprisingly, many investors are showing great interest. in annuities that provide guaranteed income for life. A recent study4 by the Alliance for Lifetime Income, in partnership with CANNEX, found that a significant majority (85%) of investors are interested in or already have an annuity that guarantees lifetime income .

Shield Level Pay Plus Annuities are indexed annuities, which are a type of annuity that allow clients to participate in growth opportunities up to a specified percentage by tracking the performance of one or more market indices, rather than investing directly to the markets, while providing a level of protection in down markets.

Other key features of Shield Level Pay Plus annuities include:

Two versions of an income broker

Clients have the flexibility to choose between two versions of an integrated income broker5, depending on their specific risk tolerance and income needs. Both user versions use a benefit base6 that is multiplied by the applicable withdrawal rate to determine the lifetime income stream. The choice of two versions of the engine means that customers can decide how they want their Profit Base, which initially equals the purchase payment, to create value. The profit base cannot go down because of market losses, but it can grow.

For clients who want to participate in the growth opportunities that stocks can offer, the Market Growth version of the income item offers the potential to generate profit amounts faster than other guaranteed income products. For clients who prefer the convenience and reliability of guaranteed profit base growth regardless of market conditions, the Market Growth with Rollup version of the Income Team can be a valuable addition to the portfolio.7

Lower rate

The features of a Shield Level Pay Plus annuity are provided in a way that will not put a huge dent in a client’s wallet due to higher fees and costs. With no base contract fees, clients pay an annual charge of 1.50%8, which is a lower rate than some traditional variable annuities that have an income advance, and can help clients keep more of their money working for them.

Flexibility to adapt to individual needs and goals

Shield Level Pay Plus annuities continue Brighthouse Financial’s history of achieving flexibility in each of its products to suit individual client needs and goals. In addition to the flexible product features mentioned above, Shield Level Pay Plus annuities are designed to offer married couples of any gender benefits that not all similar products can offer. These benefits include allowing clients to choose which income option they prefer when they are ready to start collecting income, rather than having to choose individual or joint lifetime income at contract issue.

Shield Level Pay Plus Annuities enhance Brighthouse Financial’s portfolio of products that are designed to help people protect what they’ve earned and ensure it lasts. In addition, Shield Level Pay Plus annuities reflect Brighthouse Financial’s ongoing focus on helping meet the evolving needs of clients as the company continues to fulfill its mission of helping people achieve financial security.

“Financial security, especially in retirement, is a top concern for many people and their families today. Brighthouse Financial specifically designed Shield Level Pay Plus Annuities to help meet the need for reliable retirement income, and we are very pleased to add this new product to our Shield Level annuity suite,” Lambert concluded.

There is more information about Shield Level Pay Plus annuities at brighthousefinancial.com.

About Brighthouse Financial, Inc.

Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) is on a mission to help people achieve financial security. As one of the largest providers of annuities and life insurance in the US,9 we specialize in products designed to help people protect what they’ve earned and make sure it lasts. Learn more at brighthousefinancial.com.

1 Guaranteed lifetime income is dependent on staying within rider parameters.

2 Early or excess withdrawals may affect the amount or ability to receive lifetime income. All guarantees are subject to the claims paying ability and financial strength of the issuing insurance company. If the account value is reduced to zero due to a withdrawal without excess, or if there are insufficient funds to deduct the user charge, lifetime income payments will be calculated using the guarantee rate of for applicable life. If the account value is reduced to zero due to early or excess withdrawals, no lifetime income payments will be received.

3 Retirement information for Medicare beneficiaries. Social Security Administration, January 2022.

4 Alliance for Lifetime Income and CANNEX Protected Retirement Income and Planning Study, 2021.

5 In the prospectus, the income awardee is referred to as the Guaranteed Lifetime Withdrawal Benefit (GLWB).

6 The Benefit Base is referred to as the GLWB Base in the prospectus. The profit base can be reduced by early and excessive withdrawals. The Benefit Base cannot be withdrawn as a lump sum or paid as a death benefit and is not the amount guaranteed to be returned to you if you surrender the contract. See the brochure for details.

7 The benefit base will not increase by the cumulative rate if a withdrawal is made during a contract year.

8 The rate of the user rate is multiplied by the profit base and is considered the user rate. This amount is deducted from your account value for the previous contract year on each contract anniversary.

9 Classification for 2021 admitted assets. Best’s Review®: The Top 200 Life and Health Insurers in the US. AM Best, 2022.

Brighthouse Shield Level Pay Plus Annuity and Brighthouse Shield Level Pay Plus Advisory Annuity, collectively referred to as “Shield Level Pay PlusSM Annuities”, are part of the Shield Annuity suite of index-linked annuity products single premium deferred which are known as “Shield”. ® Level Annuities” or “Shield® Annuities”.

Brighthouse Shield Level Pay PlusSM Annuity and Brighthouse Shield Level Pay PlusSM Advisory Annuity, collectively known as “Shield Level Pay PlusSM,” are indexed annuities issued by, and the product warranties are the sole responsibility of, Brighthouse Life Insurance Company, Charlotte. , NC 28277, in Policy Form L-22494 (09/12)-AV (“Brighthouse Financial”). Brighthouse Securities, LLC (Member FINRA) distributes these products. All are affiliated companies of Brighthouse Financial. The contract prospectus and contract contain information about the contract features, risks, charges, expenses, exclusions, limitations, termination provisions and conditions for keeping the contract in effect. The prospectus and full contract details are available from your financial professional and should be read carefully. Product availability and features may vary by state or company. These products are not available in New York.

Brighthouse Financial® and its design are registered trademarks of Brighthouse Financial, Inc. and/or its subsidiaries.

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