Both are Prudential Financial companies located in Newark, NJ. It is possible that clientswould have realized less of a loss or no loss if the Performance Lock occurred at a later time, or if the Index Strategy was not locked.Clientswill not receive Index Credit on any locked Index Strategy on the Index Strategy End Date. Salene Hitchcock-Gear President of Individual Life Insurance, Prudential (Photo: Business Wire). transform: translate(-50%, -50%) Financial advisors through the Stages channel offer a no cost consultation and provide an overview of your financial life with proposed solutions for you to consider. The cap rate is the maximum amount of interest that can be credited during a specific index term. By using this website, you agree that you have read and agree to our, Investments, Life Insurance, Retirement, Planning, Life Insurance, Retirement, Investments-old, Partnering with Association and Affinity Groups, Important Information Disclosure Statement, Check the background of this firm on FINRA's BrokerCheck. Year 1: No free withdrawals allowed in the first contract year, unless taken as a Required Minimum Distribution (RMD) that Prudential calculates. margin: auto; It does not reect a specific annuity or an actual account value. This website is for U.S. persons Opens in a new window only and may not be approved in all states. 5 years: 9%, 9%, 8%, 7%, 6% (California: 8.25%, 8%, 7.75%, 7%, 6%) 7 years: 9%, 9%, 8%, 7%, 6%, 5%, 4% (California: 8.25%, 8%, 7.75%, 7%, 6%, 5%, 4%) Rates will vary based on the surrender charge period chosen. Available through Registered Investment Advisors; offers similar features and options as the PruSecure Fixed Indexed Annuity. startxref 0000061397 00000 n Fortitude Re has retained PICA as an unaffiliated Third-Party Administrator. If you would like information about your particular investment needs, please contact a financial professional. See current FlexGuard - NY rates NY disclosure Benefits Features Tools 0000013916 00000 n Compliance NumberTemplate: 1000797-00012-00. only and may not be approved in all states. They decide the percentage of their money to allocate to each and the term of each index-based strategy. The Initial Term (s) begin on the Issue Date. NEWARK, N.J., June 15, 2021 - Prudential Financial Inc. ( NYSE: PRU ), today launched FlexGuard Income, a new indexed variable annuity that provides customers with investment strategies for growth potential, along with different levels of protection and the ability to help enhance income in retirement. Participation Rates cannot be less than 100%. } If the client chooses to defer their Index Effective Date, the allocations for the Index Strategies will be placed in the Transfer Account and will automatically be transferred to the Index Strategies, if within the Transfer Account Period. Upon renewal or reallocation at the end of a term, your clients may continue with the same strategy and allocation, or choose from any strategies and terms available at that time. Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, an international group incorporated in the United Kingdom or the Prudential Assurance Company, a subsidiary of MG plc, a company incorporated in the United Kingdom. All products and/or options may not be available in all states or with all broker/dealers. Withdrawals taken during the surrender charge period, excluding any Required Minimum Distributions, will be subject to any applicable surrender charges and a Market Value Adjustment. There may typically be upper limits known as cap rates and participation rates, on the amount of potential interest credited in a given period, as well as a floor that offers downside protection. Marketing and training materials contained on these websites need to be approved by the Prudential Retirement Strategies Marketing Compliance Unit prior to use. Prudential FlexGuard IVUL is the second (after Equitable MSO, which has been in market largely unchanged since 2010) of what will inevitably become a new category in the life insurance market, Variable UL products with subaccounts that offer structured payoffs - in this case, buffered strategies. Buffers and floors cannot change for a contract after they are established. Caps, Precision Rates, and DPSCs for a 1-year term cannot be less than 1.50%. Dow Jones U.S. Real Estate Index is designed to track the performance of Real Estate Investment Trusts (REITs) and other companies that invest directly or indirectly in real estate through development, management, or ownership, including property agencies. Our new website has recently launched with features that may not be fully supported by your current browser. Certified Financial Planner will be happy to answer any question, Protect Select a level of protection that will limit losses, Grow- Participate in the limit upside of market indexes. The buffer will vary by the selected strategy, term length, andindex elected. This is an independent product review, not a recommendation to buy or sell an annuity. These advisors currently offer only insurance products issued by PICA and its affiliates (Prudential companies). Asset allocation and rebalancing do not ensure a profit or guarantee against loss. padding: 0; .RIANavActive a { It can be customized based on a client's retirement goals and adjusted as their needs change. .pru-module.pru-module-12 .pru-module-rich-text-editor {width: 100%;}, At least characters must be typed in the search field in order to perform the search. Please refer to the current rate sheet. and has been licensed to Pruco Life Insurance Company ("Licensee"). Prudential FlexGuard Life is issued by Pruco Life Insurance Company and offered through Pruco Securities, LLC (member SIPC). If you qualify, please, A retirement strategy as individual as you are. Copyright 2019-2023 Annuity Look 1-800-325-1833, Annuity Company Issuer Review: Prudential Financial. ABOUT PRUDENTIAL INDIVIDUAL LIFE INSURANCE CDs are FDIC-insured up to $250,000 per fi nancial institution, and there may be a penalty for early withdrawal. During this period, if they withdraw any or all of the money from the annuity, surrender charges and a Market Value Adjustment will apply. In a rising interest rate environment, increases in caps if any, may be substantially slower than increases in interest rates. 0000021753 00000 n FlexGuards three index strategies include a cap rate strategy, which allows you to earn interest on any index growth up to a defined limit, called a cap; as well as two index. A variable annuity offers a unique combination of features, including market participation through a variety of investment options; tax-deferred growth opportunities; and optional protection benefits that can provide certain accumulation, income, and beneficiary guarantees for an additional cost. Prudential Defined Income Variable Annuity Product Specifics: Minimum age for initial purchase: 45 Maximum age for initial purchase: 85 Minimum initial purchase payment: $25,000 Prudential stated fee: 1.9% True all in fee: 2.73-3.43% Website: www.annuities.prudential.com/investor Prudential Defined Income Variable Annuity Fees: B-Share 6 years: 7%, 7%, 6%, 5%, 4%, 3%; based on the effective date of each Purchase Payment and the percentage of the amount withdrawn from the Purchase Payment, above the free withdrawal amount. list-style-type: none; Rates are subject to change at any time. Unpaid loans and withdrawals reduce cash values and death benefits; may reduce the duration of the guarantee against lapse, which may lapse the policy; and may have tax consequences. Financial advisors through the Stages channel offer a no cost consultation and provide an overview of your financial life with proposed solutions for you to consider. There are limitations and restrictions when making withdrawals. Not Insured by FDIC or any Federal Government Agency|May Lose Value|Not a Deposit of or Guaranteed by the Bank or any Bank Affiliate. bottom: -18px All references to income certainty and guarantees, including optional benefits, are backed by the claims-paying ability of the issuing company and do not apply to the underlying investment options. Investing in a variable annuity may be the answer for part of your overall retirement strategy. Featured News Stories. 1-Year Term 3-Year Term 1-Year Term (Step Rate) 1-Year Term (Fixed Account) Get started today. 0000030064 00000 n Change of Ownership terminates the Return of Purchase Payments death benefit. " As I mentioned, the Flexguard annuity has ZERO fees if invested in the segments and offers up to 20% downside protection. With an FIA, your clients money is not actually invested in any index, but rather may earn interest based on the indexs performance. Neither Bloomberg nor UBS guarantees the timeliness, accurateness, or completeness of any data or information relating to Bloomberg Commodity IndexSM. Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, an international group incorporated in the United Kingdom or the Prudential Assurance Company, a subsidiary of MG plc, a company incorporated in the United Kingdom. 0000017237 00000 n Index Advantage Income provides multiple index options, which are the combination of a crediting method, also called an index strategy, the index, the time period for measuring Index Performance (term), and a 10% or 20% buffer or a -10% floor. Neither Prudential Financial, Inc. nor Assurance IQ issues, underwrites, or administers health plans or health insurance policies. New & Different Solutions. /*background-color: #07639d;*/ But that can create a dilemma. Dow Jones U.S. Real Estate Index is designed to track the performance of Real Estate Investment trusts (REIT) and other companies that invest directly or indirectly in real estate through development, management, or ownership, including property agencies. *The 5-year index term can only be elected at contract issue and cannot be renewed. 0000024403 00000 n border-bottom: 10px solid #ccc; display: block; Clients seeking information regarding their particular investment needs should contact a financial professional. On an Index Strategy Start Date, the Index Strategy Base applicable to that Index Strategy would be used instead of the Interim Value. For example, if a RILA or buffer annuity has selected the optional 20% S&P 500 index protection against a market loss over one year period, an investors account would lose only 8% of its value if the market dropped by 28% in that given year because of the buffer annuity protects the first 20% loss from the market. Bloomberg or Bloomberg's licensors, own all proprietary rights in the Bloomberg Indices. It is a free float-adjusted market capitalization index that is designed to measure the equity market performance of 21 developed markets, excluding the U.S. and Canada. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. Pruco Life Prudential FlexGuard Indexed VA. Prudential came to the structured annuity market in early 2020, 10 years after the birth of this category. The Performance Value will not fluctuate for the remainder of the existing index strategy term unless there is a withdrawal or reallocation. Withdrawals or surrenders may be subject to contingent deferred sales charges. The product prospectus contains a more detailed description of the limited relationship MSCI has with Pruco Life Insurance Companyof New Jersey and any related annuity contracts. Funds allocated to the index-based strategies have the potential to grow based on the performance of their chosen indices, comparing the value on the rst day to the value on the last day of their 1-, 3-, or 5-year. Use up and down arrow keys to navigate. 0000036749 00000 n Securities products and services are offered through: Pruco Securities, LLC and Prudential Investment Management Services, LLC, both members SIPC and located in Newark, NJ, or Prudential Annuities Distributors, Inc., located in Shelton, CT. All are Prudential Financial companies. The client'smoney is not actually invested in any index, but may earn interest credits based on the indexs performance. When establishing interest crediting rates, Prudential considers many factors, including current economic and market conditions, the general interest rate environment and both the expected and . left: 50%; Otherwise, the Index Credit is equal to the negative Index Return in excess of the Buffer. Annuities and Life Insurance are issued by Prudential Financial companies; The Prudential Insurance Company of America (PICA) or Pruco Life Insurance Company (PLAZ) (in New York, by Pruco Life Insurance Company of New Jersey (PLNJ)), all located in Newark, NJ (main office), or an unaffiliated third-party issuer: Fortitude Life Insurance & Annuity Company (FLIAC), located in Jersey City, NJ. Information contained on this site does not and is not intended to constitute an advertisement, solicitation, or offer for sale in any jurisdiction outside the United States, where such use would be prohibited or otherwise regulated. 0000001537 00000 n Our new website has recently launched with features that may not be fully supported by your current browser. On each Index Anniversary Date, you may reallocate any Index Strategy that has reached the end of the Index Term or allocate money into new Index Strategies. If a Performance Lock is executed when thePerformance Lock Value has declined, clientswill lock in any loss. This indexed variable annuity, also called an Registered Indexed Linked annuity, RILA, Buffer annuity, will likely be presented on three ideas: The Prudential FlexGuard Annuity is for investors that want to participate in stock market like return with a loss provision or buffer selected of 10% or 20% a year. Fee-Only planners have access to Advisory or I- share fee advised structured annuities, They usually have zero surrender charges, instant liquidity, and higher index rates. These planners charge annual fees to manage the indexes around 1.00% per year of assets in the annuity. Still, a better option as these fee-only RILA annuities have higher upside cap rates than the commissionable traditional RILA/ buffer annuities. Check out, for available fee-only buffer annuities. What Will We Cover in this Annuity Review? 0000019833 00000 n 2023 Prudential Financial, Inc. and its related entities, Prudential, the Prudential logo, the Rock symbol, Prudential LINK and LINK by Prudential are service marks of Prudential Financial and its related entities, registered in many jurisdictions worldwide. A surrender charge, or Contingent Deferred Sales Charge (CDSC), may apply in the event of an early withdrawal from the annuity. Please consult with your tax and legal advisors regarding your personal circumstances. Unique to Prudential, FlexGuard - NYs Tiered Participation Rate index strategy oers clients 100% of the positive index growth up to the tier level, and then the opportunity to accelerate their growth by capturing a percentage MORE than 100% of the index growth above that level. Each company (PICA, PLAZ, PLNJ, FLIAC, PAD) is solely responsible for its own financial condition and contractual obligations. Comprehensive financial planning offered through the Stages channel is more limited in scope than comprehensive financial planning offered through the Prudential Advisors distribution channel. FLIAC is not licensed to do business in New York, effective December 31, 2015, which had no impact on existing annuity contracts sold through FLIAC. Levels of downside protection are available on index-crediting strategies only. The information is not intended as investment advice and is not a recommendation about managing or investing a clients retirement savings. . .id-Z7_G802HJS0M0B280QQVMVG6OP8R2 .ibmPortalControl .module { opens in new window. Your clients should consult a tax advisor for more information. MSCI EAFE Index: The annuity contract referred to herein is not sponsored, promoted or endorsed by MSCI, and MSCI bears no liability with respect to any such annuity contract or any index referred to by any such annuity contract. This website is for U.S. persons only and may not be approved in all states. Fortitude Re has retained PICA as an unaffiliated Third-Party Administrator. Started in 2010 with one company, these hybrid annuities do offer is a limited loss to an investor between 10% and 20% of the markets decline during a specified period usually a year period. PruSecure was designed to meet the needs of clients who are: Initial: $10,000 Subsequent: Not Permitted, Minimum: None / Maximum: 85 Contracts may not be issued on or after the 86th birthday of the oldest of all owners and annuitants, No later than the first contract anniversary on or after the oldest owner's or annuitant's 95th birthday, Indexed-Based Strategy with Point-to-Point Crediting with Cap Rate and Point-to-Point Crediting with Participation Rate. PCS is not a licensed insurance agency or broker. By using this website, you agree that you have read and agree to our, Investments, Life Insurance, Retirement, Planning, Life Insurance, Retirement, Investments-old, Partnering with Association and Affinity Groups, Check the background of this firm on FINRA's BrokerCheck, Certain securities products and services are offered through Pruco Securities, LLC and Prudential Investment Management Services, LLC, both members. The initial summary prospectus for the contract, the prospectus for the index strategies, and the prospectus or summary prospectus for the underlying portfolios (collectively, the prospectuses) contain this information as well as other important information. . and S&P 500 company whose subsidiaries provide, , and other retirement financial products to both. Prudential FlexGuard Life is an innovative Indexed Variable Universal Life product that offers a flexible combination of protection, growth, and access to meet consumers' changing life insurance needs. As a result, clientsmay receive less than the full Index Credit, or less than the full protection of the Buffer, thanthey would have received if they waited for us to apply the Index Credit on the Index Strategy End Date. The oldest international stock index, it is the most common benchmark in the U.S. for foreign stock funds. 0000001036 00000 n Also, its important to note that if they take a withdrawal or annuitize the contract, taxes will apply. Group Insurance coverages are issued by The Prudential Insurance Company of America, a Prudential Financial company, Newark, NJ. Not all term and buffer options are available for each index crediting strategy. 2023 Prudential Financial, Inc. and its related entities. Prudentials A.M.Best rating is a A+ along with comdex score of 95. If they need more than the Free Withdrawal Amount or want to take a withdrawal in the first year, they can withdraw as much of the account value as they need, but keep in mind that surrender charges and a Market Value Adjustment (MVA) will apply. A copy of the prospectuses may be obtained from prudential.com or your financial professional. Are you a licensed financial professional? +1 201-835-4872 .RIANavBar li { FlexGuard - NY offers an innovative index crediting strategy unique to Prudential, with access to variable investment options. 0000015975 00000 n The Insurance Charge is a combination of the Mortality & Expense Risk Charge and the Administration Charge. 0000005769 00000 n This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. Created Exclusively for Use by Financial Professionals. Assurance IQ, LLC a wholly-owned subsidiary of Prudential Financial, Inc. matches buyers with products such as life and health insurance and auto insurance, enabling them to make purchases online or through an agent. 0000011656 00000 n The solution is customizable and can be adjusted based on changing needs, giving consumers the opportunity to take control over their future. If youd like to see Fortitude Re product information, please click here opens in new window. As our customers needs continue to evolve, were working to provide them with new ways to achieve financial security, including offerings that help to diversify their cash values and realize more benefits from their policies, says Salene Hitchcock-Gear, president of Individual Life Insurance at Prudential. Investment advisory products and services are made available through Pruco, a registered investment adviser. Gains or losses are assessed at the end of each term. Our annuity review also called look is overseen by our in house Certified Financial Planner that has to put you first, as a fiduciary thru the CFP Board so you will have the confidence to use these annuities in your retirement plan after our reviews. Our Certified Financial Planner professional (CFP) will answer your questions FREE within 24 hours. Minimum of $100 Additional Purchase Payments received between Index Anniversaries will be allocated to the Holding Account (unless the client provides instruction to allocate to any other variable investment options at that time). bottom: -20px (See Important Information Disclosure Statement for additional information about MVAs.) FLIAC is in the process of changing its name from Prudential Annuities Life Assurance Corporation (PALAC) in certain jurisdictions. Each subsidiary is responsible for its own financial condition and contractual obligations. marisa.amador@prudential.com, Amid market volatility, Prudentials innovative investment strategy meets increased need for asset protection. Each subsidiary is responsible for its own financial condition and contractual obligations. The Interim Value is the value of an Index Strategy on any Valuation Day during an Index Strategy Term. Prudential charges 1.1% annually plus 0.8% for its Defined Income Benefit (but reserves the right to increase this fee to 1.5%). 0000030460 00000 n Neither Bloomberg nor UBS Securities LLC and its affiliates (collectively, "UBS") are affiliated with Pruco Life Insurance Company, and Bloomberg and UBS do not approve, endorse, review, or recommend PruSecure. FlexGuard offers you the ability to allocate amongst the following Variable Investment options, in addition to the Index Strategies. Other proprietary Fortitude Re marks may be designated as such through the use of the SM or symbols. NEWARK, N.J., November 14, 2022 - Prudential Financial, Inc., has launched Prudential FlexGuard Life, an innovative Indexed Variable Universal Life product that offers a flexible combination of protection, growth, and access to meet consumers changing life insurance needs. The value of an Index Strategy at the end of any Valuation Day during an Index Strategy Term other than the Index Strategy Start Date and Index Strategy End Date. S&P chooses the member companies for the 500 based on market size, liquidity and industry group representation. For complete product information, please reference the client brochure PDF opens in new window, rate sheet PDF opens in a new window, and product prospectus. Prudential FlexGuard Income indexed variable annuity: current rates Effective Date: 12/15/2022 This new business rate sheet provides the Cap Rates, Step Rates, Participation Rates and Tier Levels as set by Prudential effective as of the date above. These two index crediting strategies determine how their money may grow. It affords them access to cash values when needed, providing the unique opportunity to leave a legacy while also expanding access to living benefits. An investment in the PSF PGIM Government Money Market Portfolio is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. May 18, 2020 8:00AM EDT. A floor offers 100% downside protection in the event of a market loss. only and may not be approved in all states. Fortitude Re has retained PICA as an unaffiliated Third-Party Administrator. trailer If the Index Return is positive, but less than the Cap Rate, the Index Credit is equal to theIndex Return. %PDF-1.7 % The Prudential Insurance Company of America - California COA # 1179. Lock in performance prior to the Index Strategy End Date by either setting an automaticPerformance Lock target, which will automatically lock in the Performance Lock Value as of close of business on the day the target is met, OR manually lock in the Performance Lock Value as of the current day's close of business. Clients seeking information regarding their particular investment needs should contact a financial professional. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. Some of the products and services discussed on the Stages site are in development and may not be currently available. 0000008048 00000 n } Deduction of the annual product fee of 1.25%, withdrawal charge, $50 contract maintenance charge (on contracts with less than $100,000 contract value), 0.70% Income Benefit rider fee, and, if . ** The websites referenced above are not endorsed or supported by any of the Prudential Financial companies. font-weight: bold; Assurance IQ, LLC a wholly-owned subsidiary of Prudential Financial, Inc. ("Prudential") matches buyers with products such as life and health insurance and auto insurance, enabling them to make purchases online or through an agent. Neither Prudential Financial, Inc. nor Assurance IQ offers, underwrites, or administers health plans or health insurance policies. Slide 7 establishes how rethinking your approach to asset allocation may be smart. S&P 500 Index is a market capitalization-weighted index of the 500 widely held stocks often used as a proxy for the stock market. Prudential Stages is an umbrella marketing name for Pruco Securities LLC, (sometimes referred to as Pruco) doing business as Prudential Financial Planning Services, pursuant to a separate agreement. However, if your clients withdraw any of their money during the first contract year or more than 10% of their money in any subsequent year during the surrender charge period, there may be a surrender charge.
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