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6 years: 7%, 7%, 6%, 5%, 4%, 3%; based on the effective date of each Purchase Payment and the percentage of the amount withdrawn from the Purchase Payment, above the free withdrawal amount. In addition to one-year index term options, PruSecure offers three- and ve-year index term options, which may offer more upside potential. Are you a licensed financial professional? FlexGuard - NY's Index Strategies do not represent a direct investment in an index. Growth opportunities with added ability to lock in performance. Compliance NumberTemplate: 1000797-00012-00, At least characters must be typed in the search field in order to perform the search. Bloomberg U.S. Intermediate Credit Index:BLOOMBERG is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). content: ""; 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. border-right: 10px solid transparent; One crediting strategy point to point makes it easier for you to explain and clients to understand. /* .RIANavActive a:before { Prudential Financial was founded by soon to be US senator John Dryden in 1875 with its one product of burial insurance. *The 5-year index term can only be elected at contract issue and cannot be renewed. 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. 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. Registered Flexible Premium Deferred Index-Linked Variable Annuity with four Index Strategies featuring multiple protection levels and term lengths, plus 5 variable investment options, Prudential FlexGuard indexed variable annuity - New York, Up to age 85; based on the age of the oldest Owner/Annuitant, $25,000 Minimum Qualified and Nonqualified $1,000,000 Maximum (Premiums that exceed $1,000,000 require prior company approval). The oldest international stock index, it is the most common benchmark in the U.S. for foreign stock funds. It can be customized based on a client's retirement goals and adjusted as their needs change. All products and/or options may not be available in all states or with all broker/dealers. Prudential Financial Fact Sheet. Variable Annuities and Variable Life Insurance are distributed by Prudential Annuities Distributors, Inc. (PAD), Shelton, CT (main office). border-bottom: 10px solid #ccc; This web page 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. As of September 2021, the FlexGuard Challenge has received 3,274 unique visitors and 19,116 total page views and has resulted in over 9,350 unique leads. One such solution is Prudential's FlexGuard indexed variable annuity. The Interim Value does not apply to an Index Strategy on the Index Strategy Start Date and the Index Strategy End Date. This is an independent product review, not a recommendation to buy or sell an annuity. trailer Suggestions may appear below after you type 3 letters. You will not receive a written financial plan or investment recommendations as part of the no cost consultation. Index-linked variable universal life products are complex insurance and investment vehicles and are long-term investments designed to provide death benefit protection with cash value accumulation potential. Fortitude Re and the Fortitude Re logo are service marks of Fortitude Group Holdings, LLC and its affiliates. Pruco Life Prudential FlexGuard Indexed VA. Prudential came to the structured annuity market in early 2020, 10 years after the birth of this category. } Also, its important to note that if they take a withdrawal or annuitize the contract, taxes will apply. It can be customized based on a clients retirement goals and adjusted as their needs change. Tier Levels may be higher or lower than the initial Tier Level, but will never be higher than the Guaranteed Maximum Tier Level. Comprehensive financial planning offered through the Stages channel is more limited in scope than comprehensive financial planning offered through the Prudential Advisors distribution channel. If the Index Return is negative, but less than or equal to the Buffer, the Index Credit is zero. Buffer. If the index increased by 3%, an amount that is less than the cap rate of 4%, the credited interest would be 3%. Fixed indexed annuitiesare not FDIC-insured and have limitations and surrender charges. It is designed to provide customers with partial downside protection and the opportunity to grow and accelerate the performance of their assets into the future. startxref Fortitude Re and the Fortitude Re logo are service marks of Fortitude Group Holdings, LLC and its affiliates. 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. Not for Consumer Use. Prudential Annuities does not provide investment advice. This area is reserved for members of the news media. The MSCI EAFE is designed to measure the performance of a selection of stocks in 21 developed markets outside of the U.S. and Canada. 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. Prudential Financial, Inc. ( NYSE: PRU ), a global financial services leader and premier active global investment manager with more than $1.4 trillion in assets under management as of June 30,. A surrender charge, or Contingent Deferred Sales Charge (CDSC), may apply in the event of an early withdrawal from the annuity. Bloomberg is not affiliated with Pruco Life Insurance Company nor approves, endorses, reviews or recommends PruSecure. Variable annuities are distributed by Prudential Annuities Distributors, Inc., Shelton, CT. Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company, Hartford, CT, or its affiliates . First of the month following the 95th birthday of the oldest Owner/Annuitant, Annuity Payments for a Fixed Period Life Income Joint Life Income Life with Period Certain Joint Life with Period Certain. Interest credited with the participation rate would be 30% of 3%, which is equal to 0.90%. Minimum Renewal Cap Rate, Participation Rate & Fixed Rate. S&P 500 Index and Dow Jones US Real Estate Index: The "S&P 500 Index" and "Dow Jones U.S. Real Estate Index" are products of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates ("SPDJI"), and have been licensed for use by Pruco Life Insurance Company. 0000036749 00000 n Early withdrawals may result in a loss in addition to applicable surrender charges. Please reference the prospectus for information about the levels of protection available and other important product information. Caps, Precision Rates, and DPSCs for a 1-year term cannot be less than 1.50%. .pru-module.pru-module-12 .pru-module-rich-text-editor {width: 100%;}, See product specifications for more information on funds and fees associated PDF opens in new window. At the time your clients purchase a contract, they select a 5- or 7-year surrender charge period, which is the amount of time they must wait until they can withdraw funds from the annuity without facing a surrender charge and market value adjustment. Financial advisors who are available through the Stages channel currently offer a more limited range of products and services as compared to the range of products and services offered through other Prudential distribution channels. Investment advisory products and services are made available through Pruco, a registered investment adviser. Transfers from the Index Strategy(ies) to the Variable Subaccounts are not allowed at any time. Prudential Financial, its affiliates, and their financial professionals do not render tax or legal advice. 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 * @media (max-width: 991px) { Use up and down arrow keys to navigate. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC, a division of S&P Global ("S&P"); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). 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. } In providing this information, neither Prudential nor any of its affiliates or financial professionals is acting as your ERISA fiduciary. 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. All guarantees, including any optional benefits, are subject to the claims-paying ability and financial strength of the issuing insurance company. . FlexGuard - NY is issued by Pruco Life Insurance Company. Investing in FlexGuard Lifes Index Strategies does not represent a direct investment in an index. . 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 . The Disclosure Statement contains a more detailed description of the limited relationship MSCI has with Pruco Life Insurance Company and any related annuity contracts. " As I mentioned, the Flexguard annuity has ZERO fees if invested in the segments and offers up to 20% downside protection. 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. Please consult with your tax and legal advisors regarding your personal circumstances. There is no maximum amount of Index Credit with this strategy. 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. The Prudential Insurance Company of America - California COA # 1179. 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. Comprehensive financial planning offered through the Stages channel is more limited in scope than comprehensive financial planning offered through the Prudential Advisors distribution channel. 0000005806 00000 n FlexGuard Life offers buffered index strategies with potential for strong cash value accumulation, while also providing levels of downside protection during periods of market volatility. 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. August 04, 2022 Prudential FlexGuard reaches $10B total sales milestone at record pace 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. Call an annuity specialist at 888-311-4889 (option 2) to learn more. Use up and down arrow keys to navigate. When the client purchases FlexGuard - NY you will help them make choices, custom-building their annuity to meet their individual needs and goals. list-style-type: none; FlexGuard Income is initially available through Prudential Advisors financial professionals and will expand to additional, third-party broker dealers in fall 2021. The participation rate is an upper limit percentage increase used to calculate the interest that will be credited for a specific index term(s). 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, also known as "The Rock," has been in business for nearly 140 years. If the Index Return is positive and equal to or greater than the Cap Rate, then the Index Credit is equal tothe Cap Rate. Created Exclusively for Use by Financial Professionals. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. 0000029765 00000 n Receive alerts on new stories, articles, and more by subscribing to one or more RSS Feeds. Prudential reserves the right to change rates at any time. 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. Prudential FlexGuard Life is issued by Pruco Life Insurance Company and offered through Pruco Securities, LLC (member SIPC). * "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. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. padding: 0; A leading gauge of the U.S. equities market the Standard & Poors 500 Index includes 500 of the largest companies on the New York Stock Exchange and NASDAQ. With the help of the buffer, your risk of loss could be lessened. Think of it as a second layer of protection., Table below will update as the competition changes. Currently, there are some great choices for retirement annuities. To request a side by side, click on the compare button below, and our Certified Financial Planner will be happy to answer any question you might have (Click Here).. only and may not be approved in all states. 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. FlexGuard Life performs exactly in that way, prioritizing protection, growth and access.. } 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. 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). It is not possible to invest directly in an index. This is an independent review for you to see the pros and cons of this particular annuity. Statement of Financial Condition for Prudential Investment Management Services, LLC. It includes death benefit protection with guaranteed duration options, multiple ways to grow cash values and the ability to accelerate death benefits in the event of a chronic or terminal illness if an additional rider has been added. Financial advisors who are available through the Stages channel currently offer a more limited range of products and services as compared to the range of products and services offered through other Prudential distribution channels. Prudential charges 1.1% annually plus 0.8% for its Defined Income Benefit (but reserves the right to increase this fee to 1.5%). Remember that the index credits are capped at a lower rate than the index itself like your index mutual funds or EFT at Charles Schwab or Fidelity. They are options held on the indexes at the annuity carriers investment department. Most indexes described above will NOT include the dividends which historically represent some returns in the case of the S&P 500 index. Prudential Financial 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 M&G plc, a company incorporated in the United Kingdom. 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. If the Index Return is negative, but less than or equal to the Buffer, the Index Credit is zero. In cases where the duration of the index term is shorter than the length of the surrender charge period, your clients may need to renew or reallocate their strategy selections one or more times before the surrender charge period ends. On an Index Strategy Start Date, the Index Strategy Base applicable to that Index Strategy would be used instead of the Interim Value. The Contingent Deferred Sales Charge applies to each Purchase Payment and will be applied to amounts that exceed the Free Withdrawal Amount, Client(s) may withdraw up to 10% of all Purchase Payments still within CDSC without incurring a surrender charge. Surrender charges/fees and periods for this annuity are the typical of most commissionable annuities. Topics Protection Income Variable investment options are offered with this product; however, are not included for illustration purposes and do not offer downside protection. 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. A Stable Value Fund First Quarter 2022 Fund Fact Sheet - Page 3 qualified professional. PCS is not a licensed insurance agency or broker. Use our income modeling tool Current Index Strategy Rates and Caps Current Income Percentages and Deferral Rates CT disclosure Actual cap rates and participation ratesmay be higher or lower. Each issuing insurance company is solely responsible for its own financial condition and contractual obligations. The contract, announced this week, has been issued as a B-share variable annuity (with a six-year surrender period with a 7% withdrawal penalty in the . May 18, 2020 8:00AM EDT. display: block; Step Rate Plus Index Strategy Underperform: Buffers and floors cannot change for a contract after they are established. 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 of America, where such use would be prohibited or otherwise regulated. Please refer to the product prospectus for fund investment strategies and fee information. NEWARK, N.J., May 18, 2020 - Prudential Financial, Inc. (NYSE: PRU) launched FlexGuard today, the company's first indexed variable annuity product, designed to provide customers with downside protection and the opportunity to grow and accelerate the performance of their retirement assets into the future. Allianz Life Insurance Company was #1 in U.S. 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. 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. The selections you choose together with your clients are all dependent on their investment goals and their risk tolerance. With an FIA, your clients money is not actually invested in any index, but rather may earn interest based on the indexs performance. For Financial Professional Use Only. Step Rate Plus Index Strategy Index underperforms the Step Rate: Please consult with your tax and legal advisors regarding your personal circumstances. marisa.amador@prudential.com, Amid market volatility, Prudentials innovative investment strategy meets increased need for asset protection. 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. At least characters must be typed in the search field in order to perform the search, PruSecure Fixed Indexed Annuity At-A-Glance. only and may not be approved in all states. For additional important information about the products, services and companies that make them available, please click here Opens in a new window.*. border-left: 10px solid transparent; CURRENT RATES This rate sheet provides the Cap Rate, Step Rates, Participation Rates (Par Rates) and Tier Levels currently offered on the Prudential FlexGuard indexed variable annuity. } The Performance Lock Value is calculated daily and once locked,will not fluctuate for the remainder of the current Index Strategy Term, unless a withdrawal or a reallocation were to occur, and will be as of the Performance Lock Date. Before purchasing any investment product be sure to do your own due diligence and consult a properly licensed professional, preferably a certified financial planner practitioner,should you have specific questions as they relate to your individual circumstances. These advisors currently offer only insurance products issued by PICA and its affiliates (Prudential companies). 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. Renewal Cap Rates and Participation Rates may be higher or lower than the initial rates, but will never be less than the Guaranteed Minimum Rates. Taken from the interactive chart above the buffer annuity invested in the S&P 500 index over the last 20 years gain more than $86,000 than the S&P 500 index. That was an increase of 45% gain from limiting market losses with the 20% market protection each year. Click the chart to see how it works. Each subsidiary is responsible for its own financial condition and contractual obligations. This link has sublinks - To access press Enter. Announces 2022 Results. Applicable to only Account Value allocated to the variable investment options (assessed daily as a percentage of the net assets of the variable investment options).
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