- Feb 20, 2018
Brighthouse Financial Brings Even More Choice to FlexChoice
New FlexChoice Access VA rider provides access to more than 50 investment options, giving financial advisors greater control to help build their clients’ lifetime income
CHARLOTTE, NC February 20, 2018
Brighthouse Financial (Nasdaq: BHF), a major provider of annuity and life insurance solutions in the United States, announced today a new version of its FlexChoice variable annuity living benefit rider. The new rider, FlexChoice Access, expands the number of available investment options to more than 50, giving financial advisors greater control and freedom as they work with their clients to build guaranteed lifetime income. The FlexChoice Access rider is the latest enhancement to the Brighthouse Financial annuity family, and reflects the company’s ongoing commitment to driving greater value for advisors and their clients throughout its focused product portfolio.
“We’ve listened to our advisors in the field and are responding with a FlexChoice solution that allows them to help clients invest more freely,” commented Myles Lambert, chief distribution and marketing officer, Brighthouse Financial. “At the end of the day, financial advisors understand their clients’ unique income needs better than anyone, and we want to empower them to help that lifetime income grow.”
FlexChoice Access is an optional living benefit rider that can be purchased with a Brighthouse Financial variable annuity. It provides contract holders with guaranteed lifetime income that has market upside potential, regardless of market conditions.1 Redesigned to provide greater flexibility and choice, the updated rider allows financial advisors to design a tailor-made investment strategy from a wide variety of investment options, while no longer requiring allocation to risk-managed portfolios.
Unlike many VA living benefit riders, FlexChoice Access offers real-life flexibility for the ways life unfolds. It allows contract holders to start withdrawing income when they are ready, and allows them to choose whether to receive a level amount of payments for life, or whether to access higher withdrawals earlier in retirement. If a contract holder decides he or she no longer needs lifetime income, the rider provides options for cancellation.
As with previous versions of the rider, FlexChoice Access was designed to remove many of the tough decisions married clients often face when planning for retirement income. Prospective clients do not need to choose single or joint lifetime income options at issue. Additionally, income is based on the age of the older owner, so married clients can potentially get more income sooner through a higher withdrawal rate. There’s no extra charge to cover a spouse, and married couples even enjoy the same initial withdrawal rate as single account holders.
The launch of FlexChoice Access is the latest update to the company’s annuity portfolio following the expansion of its flagship Shield Level suite in August 2017. In its fourth quarter 2017 financial results, Brighthouse Financial reported a 26 percent increase in annuity sales in the fourth quarter of 2017, compared to the fourth quarter of 2016.
“We are excited to add FlexChoice Access to our successful annuity portfolio, and believe it will serve as an excellent complement to our Shield Level products,” concluded Lambert. The FlexChoice Access rider is immediately available through the company’s distribution partners.
For detailed information, please see https://www.brighthousefinancial.com/products/annuities/series-va-with-flexchoice-rider/
About Brighthouse Financial
Brighthouse Financial (Nasdaq: BHF) is a major provider of annuities and life insurance in the U.S. Established by MetLife, our mission is to help people achieve financial security by offering essential annuity and life insurance solutions designed to help protect what they have earned and help ensure it lasts. Learn more at www.brighthousefinancial.com.
Variable annuities issued by Brighthouse Life Insurance Company, Charlotte, NC 28277 and in New York only by Brighthouse Life Insurance Company NY, New York, NY 10017. Variable products are distributed by Brighthouse Securities, LLC (member FINRA).