Brighthouse Financial Inc. said today that it will be offering two types of annuity contracts through a single online platform — and that it can add more types of products to the system.
The Charlotte, North Carolina-based annuity issuer said it will start by offering fixed annuities and immediate annuities through its new Brighthouse Financial Digital Desk system.
(Related: Envestnet Annuity Exchange Adds Jackson)
Financial advisors can use the system educate clients about both types of annuities, submit client suitability questionnaires, and submit client applications.
Myles Lambert, chief distribution and marketing officer at Brighthouse, said using the new, multi-product digital system should make offering annuities easier.
“This can be particularly beneficial to firms without a fixed suitability process in place, allowing them to add fixed and income products to their shelf,” Lambert said
The new system already offers the Brighthouse Fixed Rate Annuity, the Brighthouse Fixed Rate Annuity MVA, the Brighthouse Income Annuity and the Brighthouse Guaranteed Income Builder fixed deferred income annuity.
Brighthouse is introducing its multi-product system as managers of the new Envestnet Annuity Exchange are building the menu for their multi-carrier annuity exchange. The list of insurers that have said they will offer products through the Envestnet system includes Allianz, Global Atlantic and Jackson.
Orion Advisor Services LLC, the provider of a major annuity trading and reporting system, announced major new annuity data partnerships with Allianz and Lincoln Financial this summer.
— Read Global Atlantic Joins Envestnet Insurance Exchange, on ThinkAdvisor.