Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) announced today that it has entered the independent marketing organization (IMO) distribution channel with Brighthouse SecureAdvantageSM 6-Year Fixed Index Annuity (FIA). Key features of SecureAdvantage 6-Year include 6-Year Annual Sum Index Account options1 as well as greater transparency into the daily values of the contract than is typical in fixed index annuity products.
SecureAdvantage 6-Year represents the latest collaboration between Brighthouse Financial and Market Synergy Group, a network of IMOs recognized for working with leading insurance carriers to bring innovative and competitive annuity products to market. SecureAdvantage 6-Year will be distributed through Market Synergy Group’s exclusive network of IMOs – expanding the distribution reach of Brighthouse Financial and enabling the company to help even more people protect what they’ve earned and ensure it lasts.
“We’re excited to partner with Market Synergy Group to develop and distribute SecureAdvantage 6-Year,” said Myles Lambert, chief distribution and marketing officer, Brighthouse Financial. “SecureAdvantage 6-Year reflects Brighthouse Financial’s continued commitment to provide a tailored set of products that respond directly to client needs in a changing retirement landscape.”
Key to what differentiates SecureAdvantage 6-Year from some other FIAs are the 6-Year Annual Sum Index Accounts linked to two well-known market indices: S&P 500® IndexA and Russell 2000® IndexB. fintech news
The 6-Year Annual Sum Index Accounts track the performance of the indices and, importantly, offer a method of calculating and crediting index performance that may not be available with other FIAs. As a result, SecureAdvantage 6-Year may provide a greater opportunity for growth than some other FIAs. Further distinguishing SecureAdvantage 6-Year from other FIA products is a feature referred to as the daily difference, which provides clients transparency into the changing values in their contract each business day until the end of the index term.
SecureAdvantage 6-Year is a single premium deferred annuity that also provides clients access to a portion of their money each year2. Additionally, a client’s purchase payment is 100% protected3 against market downturns – something to consider for those close to or entering retirement.
“With these features and no annual fees, SecureAdvantage 6-Year is a truly differentiated FIA designed to provide clients with protection, growth opportunity, and clarity,” said Jerry Nigro, head of business development and relationship management, Brighthouse Financial. “Through our collaboration with Market Synergy Group, we’ve created a one-of-a-kind portfolio retirement option to help clients meet their retirement goals.”
“The objective of Market Synergy Group has always been to deliver unique and innovative product alternatives to our partner firms that meet the diverse and changing needs of individuals at or approaching retirement. Retirement savers are demanding new and improved alternatives to assist with the accumulation process, and SecureAdvantage 6-Year is acutely positioned to deliver,” said Lance Sparks, president, Market Synergy Group. “Leveraging the expertise of the Brighthouse Financial team, together we developed an entirely new and innovative index crediting process that may deliver more upside opportunity for enhanced growth potential while simultaneously removing the uncertainty associated with shorter terms and frequent renewal rate resets – two huge wins for today’s retirement savers.”
SecureAdvantage 6-Year is the latest addition to the Brighthouse Financial product portfolio following the launch of Brighthouse SmartCare®, a hybrid life insurance and long-term care policy, in the first quarter of 2019.
More information on SecureAdvantage 6-Year is available at brighthousefinancial.com.
