Program timeline · status 16 Oct 2026Read the full story →
Harborline
Aug 2025
Cancelled
Gate 0
Feb 2026
Go
Stage 1
Business case
Gate 1
Apr 2026
Recycled
Gate 1
Jun 2026
Go w/ conditions
Stage 2
Development
You are here
Gate 2
Apr 2027
Gate 3
Oct 2027
Gate 4
Feb 2028
Launch
Mar 2028
Gate 5
Sep 2028
Lighthouse Financial Services Company — Beacon Index Advantage product development program. Status as of 16 October 2026. Reporting period: the week ending on the status date. This report is read against the gate the program is driving toward — Gate 2 on 01 April 2027 — not against a generic percent-complete, because in a stage-gate program the only completion that matters is the next gate.
Weekly Status — At a Glance
Stage 2
Current Stage
17 / 40
Stage 2 Weeks (42%)
$6,950,000
Spent / $14,232,000 Released
3 / 5
Gate Conditions Closed
1
Conditions At Risk
Why no SPI/CPI. This program publishes no full-program earned-value baseline — Stages 3
and 4 are not yet funded, so a program-level schedule- and cost-performance index would be computed
against a baseline that does not exist. Status is reported at stage granularity, against gate
milestones, which is what the governance model authorizes. Of the $27,904,000 authorized program
cost, $14,232,000 has been released through the Stage 2 tranche; the remainder releases only at
future gates.
Accomplishments This Period
- Development on plan at the Stage 2 mid-point. The program is 17 of 40 weeks into Stage 2 (Development), tracking to the compressed 40-week stage that followed the Gate 1 recycle. The fixed launch date of 06 March 2028 holds.
- Three of five Gate 1 conditions closed. GC-01 (crediting strategies reduced to three), GC-02 (New York removed from launch scope), and GC-04 (IMO volume re-validation) are closed with evidence. Post-closure efficacy was recorded on each — GC-04 closed correctly and still left $17,000,000 of Year 1 premium uncommitted, which remains a tracked open item rather than a closed one.
- Funding discipline held. $6,950,000 spent against $14,232,000 released — spend is tracking release, with no unplanned contingency draw this period. The two contingency draws on record ($412,000 total) both predate this reporting period and remain the only two.
Planned for Next Period
- Advance the external actuarial peer review of GLWB rider pricing (GC-03) toward its 26 Feb 2027 due date — the finding feeds directly into the Gate 2 package.
- Open ISDA execution with the second hedging counterparty (DEP-06), the dependency behind the at-risk condition below. This is the single most schedule-sensitive item on the program.
- Continue Stage 2 development across the annuity administration platform, illustration engine, and contract-form workstreams, holding the compressed schedule.
Risks & Issues Requiring Attention
The open Gate 1 conditions are the live risk register for this period. Both must close before Gate 2; one is on track and one is flagged.
| Status | Condition | Owner | Note |
|---|---|---|---|
| At risk | GC-05 — Present a hedging readiness plan with ISDA execution milestones at Gate 2 | M. Delacroix | ISDA execution with the second counterparty has not begun (DEP-06) |
| Open | GC-03 — Independent external actuarial peer review of GLWB rider pricing before Gate 2 | S. Ravichandran | On track — due 26 Feb 2027 |
Escalation. GC-05 (hedging readiness) is at risk because
ISDA execution with the second counterparty has not begun. Because the launch date is fixed, schedule
risk on the hedging dependency cannot be absorbed by moving launch — it must be absorbed by
starting the dependency sooner. This is raised for the Chief Risk Officer's attention and is the
program's recommended focus for the coming period.
Upcoming Milestones
| Milestone | Date | Status |
|---|---|---|
| External actuarial peer review complete (GC-03) | 26 Feb 2027 | On track |
| Hedging readiness plan & ISDA milestones (GC-05) | 12 Mar 2027 | At risk |
| Gate 2 - Development Complete & Filing Readiness | 01 Apr 2027 | Pending |
| Launch — Beacon Index Advantage | 06 Mar 2028 | Fixed date |
Decisions & Approvals Needed
- Chief Risk Officer & Head of Distribution: confirm the recovery path for the at-risk hedging dependency (DEP-06). No funding decision is required this period — the next tranche does not release until Gate 2 — but the schedule decision is needed now.
- No gate decision is due this period. The next gate is Gate 2 on 01 Apr 2027; its package assembly is not yet in the reporting window.
Prepared by the Program Management Office, Lighthouse Financial Services Company, and chaired from the PMO without a vote. Distribution: Gate Review Board and program sponsor. Status date 16 October 2026.