Brighthouse Financial Expands and Enhances Shield Portfolio with Launch of Streamlined Index-Linked Annuities

Business Wire

Builds on Shield success with Brighthouse Shield Level Select℠ 3-Year and 6-Year Annuities; Launches first fee-based Shield product with Brighthouse Shield Level Select℠ Access Annuity

CHARLOTTE, N.C.--(BUSINESS WIRE)-- Brighthouse Financial (Nasdaq:BHF), a major provider of annuity and life insurance solutions in the United States, announced today updates to its flagship Shield annuity family with the availability of the Brighthouse Shield Level Select℠ 3-Year and 6-Year Annuities and the Brighthouse Shield Level Select℠ Access Annuity. The portfolio expansion, which reflects the company’s focus on simplicity, transparency and value in product design, establishes a comprehensive suite of Shield solutions for a broader range of advisors and customers.

Brighthouse Shield Annuities are designed to help clients take advantage of growth opportunities in equity markets through index-tracking, while providing a pre-defined level of protection in down markets. Clients have the potential to earn returns up to the contract’s Cap Rate or Step Rate each term, with the assurance of downside protection against index loss up to the contract’s Shield Rate. Shield Level Selector℠, the first product launched in the Shield family, was recently named one of Barron’s Top 50 Annuities in the “Annuities for Tax-Deferred Investing” category of the publication’s 2017 ranking.

The new Brighthouse Shield Level Select 3-Year and Shield Level Select 6-Year Annuities simplify the experience of purchasing an annuity by streamlining product options down to those most utilized by customers. The updated products feature no annual fee, offer a three or six year surrender charge schedule, and now include a standard Return of Premium Death Benefit¹ to add a layer of security.

The company also announced the availability of the Brighthouse Shield Level Select Access Annuity, a simplified Shield product designed to meet the needs of fee-based advisors who would like to offer annuity solutions as part of their practice. Shield Level Access has no surrender charges, providing consumers with the flexibility to access their money early if needed. The annuity has no annual product fees, although the consumer will pay a fee to the advisor for advisory services.

“The Shield suite offers a powerful combination of market participation and protection,” commented Myles Lambert, Chief Distribution and Marketing Officer, Brighthouse Financial. “We are pleased with the positive market response to our Shield Annuities, and believe the updates we are announcing today will deliver even greater simplicity, transparency and value for financial advisors and the customers they serve.”

Brighthouse Financial reported that sales of its Shield portfolio remained strong in the second quarter of 2017 at $570 million, up 28 percent year-over-year, bringing year-to-date sales of Shield annuities to more than $1 billion. The company completed its separation from MetLife, Inc. on August 4, 2017 and is now an independent, publicly-traded company on the Nasdaq Stock Market under the symbol “BHF.”

The announced additions to the Shield portfolio are the latest since the May launch of the Shield Level 10℠ Annuity, an index-linked, single premium deferred annuity distributed initially by Wells Fargo Advisors.

The Brighthouse Shield Level Select 3-Year and 6-Year Annuities as well as the Brighthouse Shield Level Select Access Annuity are immediately available through the company’s independent distribution partners.

For detailed information, please see the product prospectuses at https://www.brighthousefinancial.com/products/annuities/shield-annuities/.

About Brighthouse Financial

Brighthouse Financial (Nasdaq:BHF) is a major provider of annuities and life insurance in the U.S. with over 2.7 million annuity contracts and insurance policies in-force as of June 30, 2017. Established by MetLife, our mission is to help people achieve financial security by offering essential annuity and life insurance solutions designed to protect what they have earned and help ensure it lasts. Learn more at www.brighthousefinancial.com.

¹The Return of Premium Death Benefit comes standard through age 75 at issue. Account Value will be the standard Death Benefit for ages 76 and older at issue.

Prospectuses for the Brighthouse Shield Level Select℠ 6-Year Annuity and Brighthouse Shield Level Select℠ 3-Year Annuity (“Shield Annuities”) issued by Brighthouse Life Insurance Company, and in New York, only by Brighthouse Life Insurance Company of NY, contain information about the contract’s features, risks, charges, and expenses. Clients should read the prospectus, which is available from their financial professional, and consider its information carefully before investing. Brighthouse Financial may substitute any index at any time. Product availability and features may vary by state.

Brighthouse Shield Annuities are a long-term investment designed for retirement purposes. They have limitations, exclusions, charges, termination provisions and terms for keeping them in force and are not guaranteed by the broker/dealer, the insurance agency, the underwriter, or any affiliates of those entities from which they were purchased. All representations and contract guarantees, including the death benefit and annuity payout rates, are subject to the claims-paying ability and financial strength of the issuing insurance company only. Because you agree to absorb all losses beyond your chosen Shield Rate, there is a risk of substantial loss of principal. Please refer to “Risk Factors” in the contract prospectus for more details.

Withdrawals of taxable amounts are subject to ordinary income tax and if made before age 59½, may be subject to a 10% federal income tax penalty. Some broker/dealers and financial professionals may refer to the 10% federal income tax penalty as an “additional tax” or “additional income tax,” or use the terms interchangeably when discussing withdrawals taken prior to age 59½. Distributions of taxable amounts from a non-qualified annuity may also be subject to the 3.8% Unearned Income Medicare Contribution tax that is generally imposed interest, dividends, and annuity income if your modified adjusted gross income exceeds the applicable threshold amount. Withdrawals will reduce the living and death benefits and account value. Withdrawals may be subject to withdrawal charges.

Brighthouse Financial may not give legal, tax or accounting advice. Any discussion of taxes is for general informational purposes only, does not purport to be complete or cover every situation, and should not be construed as legal, tax or accounting advice. Clients should confer with their qualified legal, tax and accounting advisors as appropriate.

Brighthouse Shield Level Select℠ 6-Year Annuity and Brighthouse Shield Level Select℠ 3-Year Annuity are issued by Brighthouse Life Insurance Company, Charlotte, NC 28277 on Policy Form L-22494 (09/12)-AV and in New York, only by Brighthouse Life Insurance Company of NY, New York, NY 10017 on Policy Form ML-22494 (09/12) (collectively and singly, “Brighthouse Financial”). These products are distributed by Brighthouse Securities, LLC (member FINRA). All are Brighthouse Financial companies. MetLife, a registered service mark of Metropolitan Life Insurance Company, is used under license to Brighthouse Services, LLC and its affiliates.