What are Brighthouse Financial Inc's Business Segments?
Brighthouse Financial Inc. is a leading provider of annuities and life insurance products in the United States. The company primarily operates through three segments: Annuities, Life, and Run-off.
1. Annuities Segment: Under this segment, Brighthouse Financial offers various types of annuities to its customers. An annuity is a long-term investment that can help customers save for retirement and provide a stream of guaranteed income. The types of annuities offered by the company include:
a. Fixed Annuities: These annuities provide a fixed rate of return over a set period.
b. Variable Annuities: These annuities allow customers to invest in a variety of investment options and typically offer greater growth potential.
c. Indexed Annuities: These annuities provide a guaranteed minimum return along with the opportunity to earn additional interest based on the performance of an underlying index.
The Annuities segment also offers various riders and features that customers can add to their annuity contracts, such as death benefit guarantees and living benefit riders that provide income in retirement.
2. Life Segment: Under this segment, Brighthouse Financial offers various types of life insurance products to its customers. Life insurance provides financial protection in the event of an individual's death. The types of life insurance offered by the company include:
a. Term Life Insurance: This provides protection for a specific period and typically has lower premiums compared to other types of life insurance.
b. Universal Life Insurance: This provides both a death benefit and a savings component, allowing customers to build cash value over time.
c. Variable Life Insurance: This offers both a death benefit and the opportunity for customers to invest in a variety of investment options.
The Life segment also offers various riders and features that customers can add to their life insurance policies, such as additional coverage for accidental death and premium waivers in the event of disability.
3. Run-off Segment: This segment consists of businesses that the company no longer actively markets or underwrites, and where the company is no longer actively seeking new policyholders. The Run-off segment includes products such as structured settlements and pension risk transfer products.
Overall, Brighthouse Financial offers a wide range of insurance and investment products to help customers protect and grow their wealth. The company's products are designed to address the diverse needs of customers, ranging from those looking for guaranteed income in retirement to those seeking long-term financial protection for their families.
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