Brighthouse (BHF) Boosts Life Insurance With SmartGuard Plus
Brighthouse Financial, Inc. BHF has unveiled a life insurance product known as Brighthouse SmartGuard Plus. The product is intended to aid the clients to supplement their income at the time of retirement and a guaranteed death benefit.
Brighthouse SmartGuard Plus is a registered index-linked universal life insurance policy. It offers various buffer options that provide protection for the policy’s cash value at the time of market downswing.
This newly launched insurance product possesses the ability to take tax-advantaged guaranteed Distribution Payments for a lifetime, thus providing a surety for clients’ retirement. After the policy has been in force for a minimum 10 years, the Guaranteed Distribution Rider (GDR) allows Distribution Payments to be taken from the policy’s cash value in the form of policy loans, which reduce the death benefit. GDR is automatically included with the policy on the issue date.
Some other aspects of Brighthouse SmartGuard Plus include a guaranteed death benefit, which is income tax free, to help clients ensure their family’s financial security.
The life insurance product has the opportunity to grow the policy’s cash value prior to beginning Distribution Payments by choosing one of two crediting strategies, namely Indexed Accounts or the Fixed Account.
It also has a Lifetime Lapse Prevention Benefit, which guarantees that the policy will not lapse while the GDR is in force as long as scheduled required premiums are paid, beginning at the policy start date.
Brighthouse Financial is one of the largest providers of life insurance products in the United States through multiple independent distribution channels and marketing arrangements with a diverse network of distribution partners. Given the company’s expansive and compelling suite of life products and a strong market presence, BHF should benefit from the growing individual insurance market. The insurer remains focused on ramping up new sales of life insurance products and expanding its distribution network, aiming to become a premier player in the industry.
The newly launched Brighthouse SmartGuard Plus will add to BHF's robust suite of life insurance products, which includes Brighthouse SmartCare and Brighthouse Simply Select. In June 2020, the company launched Brighthouse SimplySelect, a new term life insurance product.
In June 2019, BHF unveiled Brighthouse SmartCare, an all-new hybrid life insurance solution that combines the growth opportunities and death benefit of an indexed universal life policy with protection against the costs of long-term care. Brighthouse SmartCare marks the first life insurance product launch by Brighthouse Financial since becoming an independent entity in 2017.
Shares of this Zacks Rank #3 (Hold) life insurer have gained 17.7% in the past year, outperforming the industry’s increase of 12.1%.
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Stocks to Consider
Some better-ranked stocks from the life insurance industry are American Equity Investment Life Holding Company AEL, Manulife Financial Corp. MFC and Primerica, Inc PRI, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
American Equity Investment has a solid track record of beating earnings estimates in three of the last four quarters and missing in one, the average being 13.01%. In the past year, AEL’s shares have surged 47.8%.
The Zacks Consensus Estimate for AEL’s 2023 and 2024 earnings per share indicates a year-over-year increase of 77.6% and 2.7%, respectively.
Manulife Financial has a decent track record of beating earnings surprise in three of the last four quarters while missing once, the average beat being 1.55%. In the past year, MFC’s shares have gained 9.4%.
The Zacks Consensus Estimate for 2023 and 2024 earnings per share is pegged at $2.44 and $2.62, indicating an increase of 2.5% and 7.4% year over year, respectively.
Primerica’s earnings surpassed the Zacks Consensus Estimate in three of the last four quarters while missing in one, the average being 3.81%.
The Zacks Consensus Estimate for PRI’s 2023 and 2024 earnings per share indicates a year-over-year increase of 34% and 11.4%, respectively. In the past year, PRI’s shares have rallied 69.7%.
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Manulife Financial Corp (MFC) : Free Stock Analysis Report
American Equity Investment Life Holding Company (AEL) : Free Stock Analysis Report
Primerica, Inc. (PRI) : Free Stock Analysis Report
Brighthouse Financial, Inc. (BHF) : Free Stock Analysis Report
