Brighthouse Financial at a Glance: Rates, Products and Reviews

Brighthouse Financial, founded in 2017 after separating from MetLife, is a major provider of life insurance and annuities in the U.S. The company specializes in fixed, variable and fixed index annuities designed to offer income stability, growth potential and market protection. With strong financial ratings (A+ from AM Best, A3 from Moody’s), Brighthouse is committed to providing reliable, customer-focused products for long-term financial security.

Brighthouse Financial offers various types of annuities including fixed annuities, variable annuities and fixed index annuities.

Fixed annuities offer predictability and stability as market conditions don’t impact the performance of your investment. You’ll not only benefit from a rate that doesn’t charge during the guarantee period, but you’ll also enjoy tax-deferred growth.

Brighthouse offers fixed-rate annuities with a three, five or seven-year guaranteed term. There are two fixed-rate annuities available:

Variable annuities offer guaranteed lifetime income and the chance to invest wisely to grow your wealth. You get the protection of knowing your benefit base won’t decline and the opportunity to build a customized portfolio that provides exposure to equities to help you earn higher returns.

Brighthouse’s variable annuity promises 5% annual compounding on your benefits base and the ability to lock in market gains through an automatic step-up if your account value is higher than the current benefits based on your contract anniversary.

You can also take advantage of add-ons like FlexChoice Access, which offers guaranteed uninterrupted income for your surviving spouse if you pass away.

Fixed index annuities offer protection against market downturns while linking growth to the performance of established market indices. You earn a higher ROI when the index performs well without the risk of the losses normally associated with equity investments.

Brighthouse offers the SecureKeySMFixed for those interested in this type of annuity. You’ll have a choice of three withdrawal charge schedules including five, seven and 10 years. You can also select an Advisory version without a withdrawal charge.

You can choose from multiple indexes to track including the Standard and Poor’s 500, Russell 2000 and the MSCI EaFE. You’ll have a choice of crediting strategies and can also customize your annuity with optional add-ons like ReadyPay, which offers guaranteed lifetime income with the option to choose when to start taking withdrawals.

Brighthouse customer service is available by phone at (800) 882-1292 if you need help with annuities. Customer service hours are Monday to Friday during the hours of 8:30 a.m. to 6:30 p.m. ET.

Brighthouse Financial received an A- rating from the Better Business Bureau and is not BBB-accredited. However, when it comes to customer service, reviews are mixed. The company has been the subject of complaints related to difficulty getting claims paid and policies being canceled for non-payment without informing customers of problems with their autopay.

The good news is, Brighthouse has top financial strength ratings, receiving in A+ or Excellent rating from AM Best, an A3 or upper medium rating from Moody’s and an A rating from Fitch. Strong financial strength ratings mean the insurer is unlikely to fail or be unable to follow through on its contracts.

Brighthouse Financial offers a good selection of annuities products as well as annuity riders and add-ons that provide the flexibility customers deserve. Fees are in line with competitors and the company has solid financial strength ratings, which can add to your peace of mind.

As with any financial product or investment, it’s important to compare Brighthouse with competitors to ensure you’re getting fair rates and terms. You may also want to consider consulting with a financial advisor to understand how fixed, index and variable annuities work together with other investments to create the income you need for a secure future.

Editor Norah Layne contributed to this article.