FlexGuard, Prudential Financial's first indexed variable annuity product, achieved $1 billion in sales less than six months after launch, making it the fastest-selling product of its kind ever . References to FLIAC shall be deemed to be references to PALAC in the jurisdictions where the name change is not yet effective. Marketing and training materials contained on these websites need to be approved by the Prudential Retirement Strategies Marketing Compliance Unit prior to use. Low-risk investments today offer little growth opportunity, while investing in the stock market can be risky. 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. 0000024473 00000 n
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. . based on your individual retirement needs and change themes those needs evolve. 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. Prudential FlexGuard income indexed variable annuity . The Cap Rate is the maximum rate that may be credited to this strategy. FLIAC is in the process of changing its name from Prudential Annuities Life Assurance Corporation (PALAC) in certain jurisdictions. Sales of the FlexGuard Suite annuities, which are the variable annuities that Prudential most wants to sell, decreased to $1.1 billion, from $1.4 billion. .RIANavActive a:after, During this period, if they withdraw any or all of the money from the annuity, surrender charges and a Market Value Adjustment will apply. position: absolute; Our new website has recently launched with features that may not be fully supported by your current browser. The Prudential Life Insurance Company of America Newark, NJ. Conservative, risk averse, or uncomfortable with the idea of losing money, but still want the potential to grow it, Looking for a way to protect and potentially grow a portion of their income-producing assets earmarked for retirement, Frustrated with the minimal returns they are receiving in today's low interest rate environment, Service your existing Prudential Annuities clients, Minimum renewal Cap Rate during surrender charge period 1.00%, after surrender charge period 1.00%, Minimum renewal Participation Rate during surrender charge period 5.00%, after surrender charge period 5.00%, Minimum renewal Cap Rate during surrender charge period 2.00%, after surrender charge period 1.00%, Minimum renewal Participation Rate during surrender charge period 10.00%, after surrender charge period 5.00%, Minimum renewal Fixed Rate during surrender charge period 1.00%; after surrender charge period 0.05%, Withdrawals in excess of the free withdrawal amount, with the exception of Required Minimum Distributions, are subject to an MVA during the surrender charge period, This adjustment may either increase or decrease the amount withdrawn and is determined by a formula that is tied to the Bloomberg U.S. Intermediate Credit Index; MVA may not apply in all states, Free withdrawals in each contract year are not cumulative, Surrender charges and MVA will not apply to RMDs that Prudential calculates, Minimum renewal Cap Rate during surrender charge period 3.00%, after surrender charge period 1.00%, This adjustment may either increase or decrease the amount withdrawn and is determined by a formula that is tied to the BloombergU.S. Intermediate Credit Index; MVA may not apply in all states, Certain securities products and services are offered through Pruco Securities, LLC and Prudential Investment Management Services, LLC, both members. Prudential Retirement Insurance and Annuity Company - California COA # 08003. 0000017237 00000 n
Standard & Poor's, S&P and S&P 500 are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Pruco Life Insurance Company of New Jersey. Your licensed financial professional can provide you with complete details. Investment advisory products and services are made available through Pruco, a registered investment adviser. 0000009387 00000 n
} Each subsidiary is responsible for its own financial condition and contractual obligations. 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. * "Explicit product fees" refers to the Base Contract Fee, or Mortality & Expense Risk Charge and Administration Charge (M&E&A), that apply only to the variable investment options. Prudential, also known as "The Rock," has been in business for nearly 140 years. 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. How does the issuer pay for all this? Targets are not available for strategies with a 100% buffer option or the Step Rate Plus Crediting Strategy. Index-linked variable annuity products are complex insurance and investment vehicles. It is possible to lose money by investing in securities. 0000018563 00000 n
Prudential Financial, Inc.is an Fortune 500 and S&P 500 company whose subsidiaries provideinsurance,investment management, and other retirement financial products to bothretailandinstitutional customers. If a Performance Lock is executed when thePerformance Lock Value has declined, clientswill lock in any loss. 0000010202 00000 n
Early withdrawals may result in a loss in addition to applicable surrender charges. Surrender charges/fees and periods for this annuity are the typical of most commissionable annuities. Ifclients are looking to protect their money from market loss and still want the potential for growth, the PruSecure Fixed Indexed Annuity offers them both. FlexGuard sales totaled $1.6 billion in the first quarter, representing 84% of total annuity sales, up from $1.2 billion in the fourth quarter of 2020, he said. For Compliance Use Only: 1003626-00008-00. 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. 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. Statement of Financial Condition for Prudential Investment Management Services, LLC. FlexGuard - NY and all product features are not approved for use in all states or through all broker-dealers. If you qualify, please, A retirement strategy as individual as you are. Featured News Stories. By using this website, you agree that you have read and agree to our Terms and Conditions. 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. Other proprietary Fortitude Re marks may be designated as such through the use of the SM or symbols. Prudential FlexGuard Indexed Variable Annuity Initial Summary Prospectus (Variable Prospectus) * Index Prospectus * Updating Summary Prospectus (Variable Prospectus) Variable Product Prospectus Prudential FlexGuard Income indexed Variable Annuity Initial Summary Prospectus (Variable Prospectus) * Index Prospectus * 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. Inspired by the groundbreaking success of Prudentials signature FlexGuard Indexed Variable Annuity products, which have reached over $10 billion in total sales, FlexGuard Life is a next-generation solution designed to help meet todays evolving consumer needs. Fortitude Re has retained PICA as an unaffiliated Third-Party Administrator. Some of the products and services discussed on the Stages site are in development and may not be currently available. Year 1: No free withdrawals allowed in the first contract year, unless taken as a Required Minimum Distribution (RMD) that Prudential calculates. This is an independent product review, not a recommendation to buy or sell an annuity. .id-Z7_G802HJS0M0B280QQVMVG6OP8R2 .ibmPortalControl .module { Unique to Prudential, FlexGuard's Tiered Participation Rate index strategy oers 100% of the positive index growth up to the tier level, and then the opportunity to accelerate your growth by capturing a percentage MORE than 100% of the index growth above that level. Prudential charges 1.1% annually plus 0.8% for its Defined Income Benefit (but reserves the right to increase this fee to 1.5%). This website is for U.S. persons Opens in a new window only and may not be approved in all states. 563 0 obj
<>stream
Comprehensive financial planning offered through the Stages channel is more limited in scope than comprehensive financial planning offered through the Prudential Advisors distribution channel. See current PruSecure Advisor rate sheetPDF opens in a new window, Surrender Charge Options Rates will vary based on the surrender charge option chosen, 5 years: 2%, 2%, 2%, 2%, 2% 7 years: 2%, 2%, 2%, 2%, 2%, 2%, 2%. 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. 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. }*/, Select a level of protection that mayhelp limit losses, Participate in the growth potential of the market, Enhance growth potential in up markets with oneunique crediting strategy, Plus, there are NO EXPLICIT PRODUCT FEES when allocating toFlexGuard - NYs index strategies.*. Compliance NumberTemplate: 1000797-00012-00, At least characters must be typed in the search field in order to perform the search. The product builds upon the record success of FlexGuard, the fastest-selling indexed variable annuity launch ever in the industry, achieving more than $3.5 . For additional important information about the products, services and companies that make them available, please click here Opens in a new window.*. Allocations among variable investment options can happen at any time. Prudential FlexGuard Income is an indexed variable annuity that offers income with various levels of protection and the opportunity to capitalize on market growth, even after clients have started taking income. Bloomberg does not guarantee the timeliness, accurateness or completeness of any data or information relating to the Bloomberg U.S. Intermediate Credit Index, and shall not be liable in any way to or Pruco Life Insurance Company investors in or owners of PruSecure or other third parties in respect of the use or accuracy of the Bloomberg U.S. Intermediate Credit Index or any data included therein. 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. It affords them access to cash values when needed, providing the unique opportunity to leave a legacy while also expanding access to living benefits. Fortitude Re has retained PICA as an unaffiliated Third-Party Administrator. Buffers and floors cannot change for a contract after they are established. Furthermore, the underlying mutual fund fee is 0.83%. The cap rate is the maximum amount of interest that can be credited during a specific index term. Otherwise, theIndex Credit is equal to the negative Index Return in excess of the Buffer. .RIANavBar ul { Bloomberg Commodity Index reflects changes in a broad range of commodity futures prices, from crude oil and coffee to gold and cattle. Prudential's book value per share also increased slightly in the quarter to $167 per share, which means it has growing shareholder equity to cover losses, even in a pandemic. It offers you lifetime income with levels of protection and growth potentialbefore and after you start income. 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. If youre considering this annuity and have additional questions, feel free contact us via oursecure contact form. 1 marisa.amador@prudential.com, Amid market volatility, Prudentials innovative investment strategy meets increased need for asset protection. Insurance and/or annuities are issued by The Prudential Insurance Company of America, Pruco Life Insurance Company (except in NY and/or NJ), Pruco Life Insurance Company of New Jersey (in NY and/or NJ), and Prudential Annuities Life Assurance Corporation (PALAC).