Annuity and Life Insurance Product Update

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

2. 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

3. Introduction

4. 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

5. Firms Covered • Below is a list of the firms we track for our Annuity Monitor and Life Insurance Monitor research services:

6. Annuities: Product Releases

7. 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

8. 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

9. 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

10. 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

11. 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

12. 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

13. 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

14. 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

15. Life Insurance: Product Releases

16. 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

17. 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

18. 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

19. 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

20. 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

21. 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

22. 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

23. 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

24. 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

25. 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

26. 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

27. 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

28. 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

29. 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

30. About

31. 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

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