Brighthouse Financial is one of the major annuity and insurance providers in the US. Its mission is to provide help to people. Especially who wants to achieve financial freedom and security. Brighthouse actually offers two products to choose from. The Brighthouse Annuities and Brighthouse financial life insurance.
Table of Contents
Brighthouse Annuities
Today InsuredGoal will provide a simple analysis on Brighthouse Annuities. But before we analyze, let’s have a quick overview on annuity. So, an annuity or annuities is actually an insurance policy. Wherein, it guarantees the policyholder a fixed income stream. For the rest of his life or a certain period of time. Sometimes, it was used as a means to fund someone’s retirement. Keep in mind that annuity is an insurance contract. Wherein you can only acquire it through the help of a financial advisor.
There are 4 main types of annuities. Understanding them is the first step to achieve one’s financial goal. Each one has its own unique characteristics. So, let’s have a quick overview.
- Fixed Annuities – This type of annuity actually delivers growth in a fixed interest rate. In addition, it can assure you that you’ll not lose money in the market. In other words, your money is not affected by market volatility. So, if you want to grow your income. You should consider fixed annuity.
- Variable Annuities – If you’re looking for a way to grow your retirement funds. This type is actually good for you. Because it can provide investment opportunities. It will also help you grow your savings.
- Income Annuities – This contract converts some of your savings into an immediate stream of income.
- Index-linked – This uses the stock market index in order to determine gains and losses. The good thing here is you’re given an ability. To select and participate in growth opportunities.
3 Signs Annuity Might Be A Great Help in Your Financial Plan
When might an annuity make sense in a financial plan and financial freedom?
So, in terms of financial planning. Annuities can play a vital role in it. It can provide a sure income during your retirement. We can determine that annuity can be a good addition. Specifically to our financial plan using three signs. But before we dig deeper. Let’s have a quick overview on annuity.
As stated above, Annuities can provide a stable stream of income. You can have multiple purchase payments. But it depends on the type of annuity. You can also choose to receive regular income payments. Either it starts in an instant or in the future. There are 4 different types of annuities that we already stated above. Just a quick overview, in some annuities your money is protected from market volatility. While the others possess a potential for growth tied to the market.
So, the first sign you need to check is if someone likes the idea of receiving an income during retirement. If that’s the case, always remember that annuity is a financial product that can guarantee income for a lifetime. And the paycheck that comes from annuity can be used to help with your daily expenses.
The second sign is if someone is looking for a tax-deferred income. With the help of annuity, your income isn’t subject to income tax. Until income payments begin or you withdraw your money.
Lastly, the third sign. If they have other income that allows them to immediately access their money. The annuity can be a great addition to your strong financial plan. Wherein, it includes liquidity. With annuity a part of it can actually be withdrawn. And you can use it as an ongoing source of income.
Brighthouse Annuity Different Types
We all know that specific healthcare may be unpredictable. But having a certain annuity can provide you monthly income. Wherein it can help you pay with some expenses. That are not covered by your standard insurance. So, here are the different types of Annuities that Brighthouse offers.
Shield Annuities
So, Brighthouse shield annuities is an index-linked annuity. Wherein it doesn’t directly invest in the stock market. But rather use the market index to help in growth opportunities. Take note, shield annuities offer a level of protection. Which of course to ensure you that the losses are limited. This is also good especially when the market is volatile. In addition, there’s no annual fees with shield annuity unlike other products.
What is Brighthouse shield rates ?
Brighthouse shield rates or shield annuity rates actually allow you to get the recent rates. Specifically for all shield products. You can visit their site in order to check their rates. Specifically for Brighthouse shield rates 6-year and brighthouse shield annuity rates.
Brighthouse Variable Annuity
If you are planning for a good retirement. The brighthouse variable annuity with flexchoice access is good for you. Well, due to the fact that there’s a unique benefit here. Specifically it gives you investment opportunities. Wherein they’ll turn a part of your retirement fund into a sure future income. In addition, they also offer flexible investment options. Take note that your other half can continue to receive income they actually need.
Brighthouse Secure Advantage 6-Year Fixed Index Annuity
This plan promises you that they’ll help you grow and protect your “future” money. They track the indices of a well-known market. To allow people to collect their retirement assets. In addition, this plan also gives new growth opportunities. And an income where you can count on.
Brighthouse Financial Guaranteed Income Builder
So, this plan is a deferred income annuity. Wherein they make a way in order to secure your future lifetime income. Brighthouse financial guaranteed income builder. Also allows you to customize your portfolio. Especially when your needs change. For example, you can move your start date. Or get some of your money. Lastly, you can also withdraw all your money whenever you want. Specifically if you don’t want lifetime income payments.
Income Annuity
This product is for people who want to live the life they want. Especially after their retirement. It’ll turn a part of your savings into an immediate and guaranteed income. With this plan, it actually gives you an ability to customize your plan. Like income payment options. Wherein it allows you to choose your payment options that fits your needs. Here are the available options you can choose:
- Highest income possible
- Legacy for loved ones
- Retirement income for you or another person
Fixed Rate Annuities
The fixed annuity is a single premium. Wherein it adds growth and stability in your retirement. Choosing a fixed rate can guarantee you a protection from market volatility. It even allows you to choose terms and other options that will fit your needs. So if you are considering this plan. You can choose between 3,5 or 7 years. Which of course to grow your money. It also gives you an ability to fully access your assets.
Brighthouse Annuities can actually help you. In terms of protecting and securing your finances. It aims to help you live the life you want. For example, if you want to live longer, Brighthouse annuity can help you save yourself from the rise of healthcare expenses. So, try to explore and consider Brighthouse annuity for a better future.