Brighthouse Financial Introduces Enhancements To Its Flagship Shield® Level Annuities

Brighthouse Financial, Inc. ("Brighthouse Financial") (Nasdaq: BHF) announced today new enhancements 1 to Brighthouse Shield ® Level Annuities ("Shield annuities").
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Brighthouse Financial, Inc. ("Brighthouse Financial") (Nasdaq: BHF) announced today new enhancements 1 to Brighthouse Shield ® Level Annuities ("Shield annuities"). These enhancements give clients saving for retirement even more ways to tailor Shield annuities to their individual needs to help them achieve their financial goals.

"We are excited to introduce these enhancements to our Shield annuity products and offer new clients additional choice as they access the growth opportunities and level of downside protection that Shield annuities provide," said Myles Lambert, chief distribution and marketing officer, Brighthouse Financial.

Performance Lock

For Shield Options with a Cap Rate, the Performance Lock feature allows clients to lock in the value of the chosen index at the close of any business day once during their term. The Locked Index Value will be used for the remainder of the term to calculate the index performance for the Shield Option. Once it takes effect, the Performance Lock is irrevocable. 2

New 1-Year Shield Options

New 1-Year Shield Options are now available with Shield Rates that provide 15% or 25% levels of downside protection. These new Shield Options may vary by product.

Return of Premium Death Benefit Age Increases

The maximum age for a client to receive the Return of Premium Death Benefit has been increased from 75 to 80 at issue.

A Brighthouse Shield Level Annuity is an index-linked product that offers clients the opportunity to grow their retirement assets while providing a level of protection during volatile markets - all with no annual fees. 3 Brighthouse Shield ® Level Select 6-Year Annuity and Brighthouse Shield ® Level Select Advisory Annuity, both part of the Shield annuity product suite, were recently named among Barron's 2021 "Best Annuities," in the registered indexed-linked annuities category, marking the fourth time Shield annuities have been included in the annual ranking since 2017.

"In developing these latest enhancements, we focused on maintaining the simplicity and transparency of our Shield annuity products," Lambert added. "We are confident that these enhancements will make a Shield annuity an even more valuable strategy for clients who are looking for an opportunity to grow and help protect their retirement assets."

More information about Brighthouse Shield Level Annuities is available 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 U.S., 4 we specialize in products designed to help people protect what they've earned and ensure it lasts. Learn more at brighthousefinancial.com.

1 Brighthouse Shield ® Level Annuity enhancements are only available with Brighthouse Shield ® Level Select 6-Year Annuity, Brighthouse Shield ® Level Select 3-Year Annuity, and Brighthouse Shield ® Level Select Advisory Annuity. Availability of the enhancements may vary by state or firm. The enhancements are not available in New York.

2 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. 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.

3 Withdrawals may be subject to withdrawal charges.

4 Ranked by 2020 admitted assets. Best's Review ®: Top 200 U.S. Life/Health Insurers. A.M. Best, 2021.

Brighthouse Shield ® Level Select 6-Year Annuity, Brighthouse Shield ® Level Select 6-Year Annuity v.3, Brighthouse Shield ® Level Select 3-Year Annuity, Brighthouse Shield ® Level Select Advisory Annuity, Brighthouse Shield ® Level 10 Annuity, and Brighthouse Shield ® Level 10 Advisory Annuity, collectively referred to as "Shield ® Level annuities" or "Shield ® 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 and, for products issued in New York, by Brighthouse Life Insurance Company of NY, New York, NY 10017, on Policy Form ML-22494 (09/12) ("Brighthouse Financial"). These products are distributed by Brighthouse Securities, LLC (member FINRA). All are Brighthouse Financial affiliated companies. The contract prospectus and contract contain information about the contract's features, risks, charges, expenses, exclusions, limitations, termination provisions, and terms for keeping the contract in force. Prospectuses and complete details about the contract are available from a financial professional and should be read carefully. Product availability and features may vary by state or firm.

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

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