Annuity and Life Insurance Product Update Q3 and Q4 2018 Patrick Flood

Table of Contents Introduction Annuities: Product Releases Allianz Dual Bonus Benefit Rider and Index Advantage Income Variable Annuity Brighthouse Fixed Rate Annuity, Fixed Rate Annuity MVA and Shield Level Select Six-Year Annuity v.3 Jackson Lifetime Check and Elite Access Advisory II Lincoln OptiBlend Plus Life Insurance: Product Releases AXA BrightLife Grow Haven Life Plus John Hancock Accumulation IUL, Guaranteed Acceptance, HealthyMind, Vitality Go and Vitality Plus MassMutual Vantage Term Product Series, Simplified Whole Life and Income Protection Option Nationwide No-Lapse Guarantee, Accumulator II and Protector II Prudential SimplyTerm About

Introduction

Background This slide deck examines new product releases from annuity carriers and life insurers covered in Corporate Insight’s Annuity Monitor and Life Insurance Monitor research services We provide a rundown of new products introduced on coverage group firms’ websites in the second half of 2018 and highlight their key features

Life Insurance Monitor Firms Covered Below is a list of the firms we track for our Annuity Monitor and Life Insurance Monitor research services: Annuity Monitor Life Insurance Monitor Allianz Life Athene AXA Brighthouse Financial Fidelity Guardian Life Jackson National Lincoln Financial MassMutual Nationwide New York Life Pacific Life Principal Prudential TIAA Transamerica USAA Vanguard Haven Life John Hancock Liberty Mutual Northwestern Mutual State Farm

Annuities: Product Releases

Allianz Dual Bonus Benefit Rider New benefit rider launched in August, available with the Allianz Accumulation Advantage Annuity Offers two bonuses Provides a 10% bonus applicable to all premiums in the first year Includes interest bonus starting at 5% of interest earned and rising to 50% after contract year 10 until annuitization or full withdrawal

Allianz Index Advantage Income Variable Annuity Variable annuity product introduced in August Features income withdrawal percentages that increase yearly as account owners defer retirement Provides customization options through crediting methods Allows account owners to choose level or—if paired with the Income Benefit rider—increasing income payments in retirement

Brighthouse Fixed Rate Annuity One of two fixed annuities Brighthouse launched in September Offers an initial guarantee period of three, five or seven years Receives an enhanced rate with any purchase payment of $100,000 Includes the option to elect the Principal Guarantee Rider, which cannot be canceled

Brighthouse Fixed Rate Annuity MVA Second in a pair of fixed annuities Brighthouse launched in September Is similar to the Fixed Rate Annuity May apply a market value adjustment (MVA) if the account owner makes a withdrawal greater than the free withdrawal amount

Brighthouse Shield Level Select Six-Year Annuity v.3 New indexed annuity introduced in September Includes a six-year contract term with access to the S&P 500, Russell 2000 and MSCI EAFE indices Is currently only available through Raymond James Advisors

Jackson Lifetime Check Living benefit rider introduced in October Is the foundation of a larger company campaign that emphasizes financial freedom Provides a lifetime check that may increase, but will not decrease, based on the markets

Jackson Elite Access Advisory II Update of Elite Access Advisory variable annuity added in December Includes no withdrawal charge Has higher monthly fees than Elite Access Advisory I Allows account owners to choose between 130 investment options

Lincoln OptiBlend Plus November expansion of the existing OptiBlend 10 fixed indexed annuity Includes 6% premium bonus available upon purchase Offers three indexed accounts Is available with the optional Lincoln Lifetime Income Edge rider, which offers guaranteed lifetime payments

Life Insurance: Product Releases

AXA BrightLife Grow Enhanced version of the existing Brightlife Grow indexed universal life insurance policy released in September Includes updated index options Can be paired with Long-Term Care Services Rider and Cash Value Plus Rider concurrently

Haven Life Plus New rider introduced in August Provides account owners with third-party benefits Includes a legal will through Trust & Will, an online safe deposit box from LifeSite and a 15% discount on MinuteClinic service, available at CVS and Target

John Hancock Accumulation IUL Update of the existing Accumulation universal life product introduced in June Features redesigned index accounts Includes a guaranteed multiplier starting in year one

John Hancock Guaranteed Acceptance New final expense insurance product made available in October Starts at $13.40 a month for $2,000 of coverage Allows prospects to apply online or over the phone Does not require a medical exam

John Hancock HealthyMind New benefit introduced in June for the Vitality program Allows participants to gain Vitality points for meditating and completing a 30-day sleep challenge Includes free 12-month subscription to the Headspace app

John Hancock Vitality Go New, more basic version of the Vitality program introduced in October Allows policy holders to earn lower premiums with healthy actions, as with all Vitality programs Is included for no additional cost Offers Amazon and REI discounts Continues the ability to add Vitality points

John Hancock Vitality Plus Upgraded version of the Vitality program introduced in October Can be included in the cost of the policy or added for a minimum of $2 a month Includes an Amazon Prime membership for participants who meet certain requirements and a partnership with Hotels.com

MassMutual Vantage Term Product Series New series of term life insurance products launched in July Offers additional level-premium period options and an extended conversion period option

MassMutual Simplified Whole Life Simplified whole life policy unveiled in July Allows clients to apply online or over the phone Is available with $2,000 to $25,000 in coverage for final expenses Does not require a medical exam

MassMutual Income Protection Option New disability insurance product debuted in July Is offered to clients purchasing whole or term life insurance Includes limited benefits to help replace income for two years if the client becomes totally disabled

Nationwide No-Lapse Guarantee October update to the existing No-Lapse Guarantee universal life insurance product Offers a new optional return of premium feature, allowing clients to recover all or a portion of their premium should they no longer desire coverage Promotes the ability to pay with Apple Pay and Text to Pay

Nationwide Accumulator II New iteration of the existing Accumulator indexed universal life insurance policy introduced in December Is not available with the Additional Term Insurance Rider Is promoted as a method for boosting retirement income

Nationwide Protector II New iteration of the existing Protector indexed universal life insurance policy introduced in December Is promoted as a good fit for prospects looking to replace term or supplement employer insurance

Prudential SimplyTerm New term life insurance policy available in September Can be purchased online Offers up to $500,000 in coverage for term lengths of 10, 20 or 30 years

About

Annuity Monitor and Life Insurance Monitor Annuity Monitor (AM) and Life Insurance Monitor (LIM) focus on the online user experiences that leading firms provide prospects, clients and advisors Using actual accounts, AM and LIM give a firsthand look at current online capabilities, including client account information, transactions, tools, customer service and educational resources AM and LIM follow the products and services offered by competitors across the industries, providing an up-close view of what firms are doing to attract new clients

Contact Us Patrick Flood Senior Research Associate (646) 876-7535 pflood@corporateinsight.com