Press release
Brighthouse Financial Announces Enhancements to Its Shield® Level Annuities Product Suite
Enhancements include new Step Rate Edge feature, which is designed to provide additional growth opportunities in certain down markets CHARLOTTE,
About this update from Brighthouse Financial, Inc.
[{"type":"text","content":"\nEnhancements include new Step Rate Edge feature, which is designed to provide additional growth opportunities in certain down markets\n\n\n CHARLOTTE, N.C.--(BUSINESS WIRE)--\nBrighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today that it has introduced new enhancements to its Shield Level Annuities Product Suite as the company continues to strengthen its flagship suite of annuity products. The enhancements include the launch of Shield Options with Step Rate Edge, a strategy that is designed to help clients keep their plans for retirement on track by providing additional growth opportunities in certain down markets.\n\n\nShield Options with Step Rate Edge are available with Brighthouse Shield® Level Annuities (“Shield® Level annuities”) and Brighthouse Shield Level Pay PlusSM Annuities (“Shield Level Pay PlusSM annuities”) for one-year and two-year terms with 10% and 15% Shield Rates.1 Shield Options with Step Rate Edge provide a predetermined percentage of growth, called the Edge Rate. At the end of the term, the Edge Rate will be credited if index performance is equal to or greater than the Shield Rate, which is the client’s chosen level of downside protection.2 For example, assuming a one-year term, a 3% index performance with a 10.25% Edge Rate and a 10% Shield Rate will result in a 10.25% performance rate applied to the contract. Likewise, a negative 10% index performance with a 10.25% Edge Rate and a 10% Shield Rate will result in a 10.25% performance rate applied to the contract.3 If negative index performance exceeds the Shield Rate at the end of the term, the Edge Rate does not apply, and the client will bear the portion of the loss that exceeds the Shield Rate.\n\n\n“For many people preparing for retirement, market volatility remains a top concern. That is why we are pleased to introduce Shield Options with Step Rate Edge, which are designed to provide clients with the potential for growth in certain down markets and help them better meet their retirement goals,” said Myles Lambert, chief distribution and marketing officer, Brighthouse Financial.\n\n\nIn addition to the introduction of Shield Options with Step Rate Edge, Brighthouse Financial is expanding the availability of its existing Shield Options with Step Rate. The Step Rate, which provides a predetermined percenta...