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Brighthouse Financial, BlackRock Partner for LifePath Paycheck

Zacks Equity Research

Brighthouse Financial, Inc. BHF has been enlisted by BlackRock, Inc. to aid in the delivery of LifePath Paycheck.

The LifePath Paycheck program is a next-generation investment solution intended to reimagine retirement by providing American workers with simplified access to lifetime income throughout their retirement. This program aims to provide a combination of a 401(k) plan or other defined contribution plan with a target date investment arrangement, which is designed to tilt toward lower-risk assets as the user nears retirement age.

The investment solution is a target date strategy that will include an allocation to innovative annuity contracts. The participants can buy the annuities from Brighthouse Life Insurance company. The solution will be available to United States employers who can provide it to their employees through their defined contribution retirement plans.

This initiative has been taken by BlackRock to secure the retirement savings of the employees during this time of market volatility.

Being part of this initiative, Brighthouse Financial helps people to achieve financial security and intends to boost its relationship with BlackRock through this significant innovation in retirement investing.

Shares of this Zacks Rank #3 (Hold) life insurer have lost 6.9% since the release of the news on last Wednesday compared with the industry’s decline of 2.1%. Nevertheless, the company’s policy to ramp up its growth profile and capital position should drive shares higher.

Stocks to Consider

Some better-ranked insurance stocks include American Equity Investment Life Holding Company AEL, The Allstate Corporation ALL and Palomar Holdings Inc. PLMR each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

American Equity Investment provides life insurance products and services in the United States. It issues fixed index and rate annuities, single premium immediate annuities, as well as life insurance products. It surpassed estimates in each of the last four quarters, with the average positive surprise being 63.04%.

Allstate provides property and casualty, and other insurance products in the United States and Canada. It surpassed estimates in each of the last four quarters, with the average positive surprise being 18.45%.

Palomar provides specialty property insurance. It offers personal and commercial specialty property insurance products, including residential and commercial earthquake. It surpassed estimates in two of the last four quarters, with the average positive surprise being 10.93%.

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The Allstate Corporation (ALL) : Free Stock Analysis Report
 
American Equity Investment Life Holding Company (AEL) : Free Stock Analysis Report
 
Brighthouse Financial, Inc. (BHF) : Free Stock Analysis Report
 
Palomar Holdings, Inc. (PLMR) : Free Stock Analysis Report
 
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