Brighthouse Financial Introduces New Enhancements to Flagship Life Insurance Product
Brighthouse Financial Introduces New Enhancements to Flagship Life Insurance Product
CHARLOTTE, N.C., July 22, 2024– Brighthouse Financial, Inc. announced today the introduction of new enhancements to Brighthouse SmartCare, its flagship life insurance product. Brighthouse SmartCare is a hybrid life insurance product that offers a guaranteed death benefit while also providing protection against the costs of long-term care (LTC) through guaranteed LTC benefits.
One of the key enhancements is the addition of a 3% Compound option, allowing clients to grow their LTC benefit amounts at a guaranteed fixed rate of 3% compounded annually. This new option provides clients with more flexibility to customize their policy to suit their individual needs.
The 3% Compound option joins the existing Fixed Growth LTC coverage options, which include the ability to grow LTC benefits at a guaranteed fixed rate of 5% compounded annually. Brighthouse SmartCare also offers an Indexed LTC coverage option and a Level option for clients to choose from.
In addition to the new LTC coverage options, Brighthouse Financial has introduced two new riders to Brighthouse SmartCare at no additional charge: the Return of Premium Surrender Benefit Rider and the Return of Premium Death Benefit Rider. These riders ensure that clients receive a minimum amount upon surrender of the policy or death, respectively.
Myles Lambert, Chief Distribution and Marketing Officer at Brighthouse Financial, stated, “By offering both a guaranteed death benefit and guaranteed long-term care protection, Brighthouse SmartCare can play an important role in a well-rounded financial plan. We are pleased to introduce these new features to enhance the product.”
These enhancements to Brighthouse SmartCare are part of Brighthouse Financial’s ongoing commitment to helping people achieve financial security. The company recently launched Brighthouse SmartGuard Plus, a registered index-linked universal life insurance policy that offers guaranteed Distribution Payments to supplement income in retirement.
For more information about Brighthouse SmartCare and Brighthouse SmartGuard Plus, visit brighthousefinancial.com.
About Brighthouse Financial, Inc.
Brighthouse Financial, Inc. is dedicated to helping people achieve financial security through its range of annuities and life insurance products. As one of the largest providers in the U.S., the company specializes in products designed to protect and preserve earnings. Learn more at brighthousefinancial.com.
The introduction of these new enhancements to Brighthouse SmartCare marks a significant step forward in providing clients with greater flexibility and protection in their life insurance policies.
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