Press release
Brighthouse Financial Expands Life Insurance Product Suite With Brighthouse SmartGuard Plus℠
New life insurance product offers guaranteed Distribution Payments and a guaranteed death benefit CHARLOTTE, N.C.--(BUSINESS WIRE)-- Brighthouse Financial,
About this update from Brighthouse Financial, Inc.
[{"type":"text","content":"\nNew life insurance product offers guaranteed Distribution Payments and a guaranteed death benefit\n\n\n CHARLOTTE, N.C.--(BUSINESS WIRE)--\nBrighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today the launch of Brighthouse SmartGuard Plus, a registered index-linked universal life insurance policy that offers clients guaranteed Distribution Payments that can be used to supplement income in retirement and a guaranteed death benefit. By tracking the performance of well-known market indices, Brighthouse SmartGuard Plus also provides clients with the potential for both their Distribution Payments and policy cash values to grow until Distribution Payments begin. In addition, Brighthouse SmartGuard Plus offers various buffer options that provide a level of protection for the policy’s cash value during market downturns.\n\n\n“Clients remain interested in products that can help them supplement their income in retirement,” said Myles Lambert, chief distribution and marketing officer, Brighthouse Financial. “With Brighthouse SmartGuard Plus, we built a life insurance product that is designed to do that and more.”\n\n\nA key feature of Brighthouse SmartGuard Plus is the ability to take tax-advantaged guaranteed Distribution Payments1 that can last for life, adding a measure of certainty for clients’ retirement. After the policy has been in force for at least 10 years, the Guaranteed Distribution Rider (GDR), automatically included with the policy on the issue date for an additional charge, allows Distribution Payments to be taken from the policy’s cash value in the form of policy loans, which reduce the death benefit.\n\n\nOther key features of Brighthouse SmartGuard Plus include:\n\n\n\nA guaranteed death benefit, that is generally income tax free,2 to help clients ensure their family’s financial security.\n\n\n\nThe opportunity to grow the policy’s cash value prior to beginning Distribution Payments by choosing one of two crediting strategies: Indexed Accounts or the Fixed Account.3\n\n\n\nThe option for clients who select the Indexed Account crediting strategy to choose from a variety of Buffer Rates (10%, 15%, 20% or 100%) to help provide a level of protection against market downturns for the policy’s cash value.\n\n\n\nThe ability, under the GDR, to choose whether to receive Distribution Pa...