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Brighthouse Adds Indexed Annuity: Annuity Product Update

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Brighthouse Financial Inc. has added a single-premium indexed annuity aimed at the independent marketing organization market.

(Related: Lincoln Adds a Target Date Fund Variable Annuity)

The Charlotte, North Carolina-based insurer will be offering the new SecureAdvantage 6-Year Fixed Index Annuity annuity through IMOs affiliated with Market Synergy Group.

Brighthouse has filed the contract as a non-variable contract. That means the company has agreed to protect the holder against loss of account value.

Product features include 6-Year Annual Sum Index Account investment options.

The options link the contract crediting rate to the performance of the S&P 500 Index and the Russell 2000 Index.

The contract also offers the holder a “daily difference” feature. The feature can help the holder track changes in a contract’s  value every business day during the index term, Brighthouse says.

In other annuity product news:

Pacific Life has agreed to offer the Pacific Odyssey and Pacific Index Advisory annuities through DPL Financial Partners’ platform starting in March.

The DPL platform offers registered investment advisors access to commission-free life and annuity products.

Cerulli Associates has published a report on the annuity markets in Asia.

Cerulli analysts cover sales and trends in markets such as China, Korea and Singapore.

In Korea, for example, a new Employment Retirement Security Act program has decreased interest in annuities and increased interest in retirement pension policies.

In China, a pension insurance system adopted in May 2018 has attracted more than 20 issuers to the commercial pension market.

— Read Annuity Update: Security Benefit, Great American, Annuities Genius, Transamericaon ThinkAdvisor.

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