Filed pursuant to Rule 424(b)(3) 333-222560
BRIGHTHOUSE LIFE INSURANCE COMPANY
BRIGHTHOUSE SHIELD® LEVEL 10 ADVISORY ANNUITY
SUPPLEMENT DATED MAY 1, 2020
TO THE PROSPECTUS DATED NOVEMBER 18, 2019
This supplement revises and, to the extent
inconsistent therewith, replaces information contained in the Brighthouse Life Insurance Company (“BLIC,” “we” or “us”) Prospectus. 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 your Prospectus. It should be read in its entirety and kept together with your Prospectus for future reference. If you have any questions or would like a copy of the Prospectus, please
contact us at 1-800-343-8496, or write us at Brighthouse Life Insurance Company, Annuity Service Office, P.O. Box 10366, Des Moines, IA, 50306-0366.
Under the heading
“THE ANNUITY CONTRACT”, add the following to the fifth paragraph:
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. You should ask your financial advisor for guidance regarding whether the contract may be appropriate for you. Please bear in mind that your financial advisor, or any financial firm or financial
professional you consult to provide advice, is not acting on our behalf.
Under the
heading “WITHDRAWAL PROVISIONS”, add the following as a new section before “Example 3-Withdrawals”:
Systematic Withdrawal
Program
For automated
processing of Required Minimum Distribution (“RMD”) amounts withdrawn from an IRA Contract or qualified annuity Contract, you may elect this program in any Contract year. However, for automated processing of amounts withdrawn for
purposes other than RMDs, you may elect this program after the first Contract Year for up to 10% of your Account Value as of the prior Contract Anniversary. We do not assess a charge for this program. You can receive payments monthly, quarterly, or
annually provided that each payment must amount to at least $100 (a minimum of $500 must be distributed per Contract Year). We reserve the right to change the required minimum or the availability of this program. If the New York Stock Exchange is
closed on a day when the withdrawal is to be made, we will process the withdrawal on the next Business Day. While the Systematic Withdrawal Program is in effect, you can make additional withdrawals.
Withdrawals under the
Systematic Withdrawal Program may either be drawn proportionally from all Shield Options and the Fixed Account to which you are allocated,