John Hancock Launches Beacon Fixed Indexed Annuity Suite

(Image source: IIR.)

John Hancock (Boston) has announced the upcoming launch of two fixed indexed annuities, expanding its retirement product portfolio with offerings focused on accumulation and lifetime financial planning.

The new Beacon suite includes Beacon Accumulation, designed for customers seeking asset growth linked to index performance with protection against market losses, and Beacon Income, aimed at customers prioritizing retirement income.

“As the realities of aging continue to evolve, customers need more robust, fulsome solutions that can support both longer lives and increasingly complex financial and other needs that come with those added years,” comments Brooks Tingle, President and CEO, John Hancock.

Tingle says the launch expands and diversifies the insurer’s product portfolio while supporting its distribution relationships and broader focus on longevity planning.

Both annuities also include living-benefit provisions for chronic, critical and terminal illness that may provide additional liquidity for health-related expenses, including nursing-home care.

John Hancock says annuity customers will also receive access to educational resources already available to its life insurance customers, including its Longevity Preparedness Index, developed with the MIT AgeLab, and its LiveMore health and wellness content.

Tony Teta will lead John Hancock’s annuity business. Teta most recently served as Head of Inforce Management, overseeing the insurer’s in-force long-term care and annuity businesses as well as selected life insurance lines.

Tad Fifer, who joined John Hancock from AmeriLife, is leading annuity sales and distribution. Fifer previously spent more than 18 years at Lincoln Financial Group.

“These products can offer more choice and provide a strong foundation for both asset accumulation and retirement income, helping support long-term financial security as needs evolve,” comments Teta.

The Beacon annuity suite is expected to become available through John Hancock’s distribution partners.

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