The Prudential Insurance Company of America - California COA # 1179. 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,. Neither Prudential Financial, Inc. nor Assurance IQ issues, underwrites, or administers health plans or health insurance policies. position: absolute; 0000009414 00000 n You will not receive a written financial plan or investment recommendations as part of the no cost consultation. A fixed indexed annuity (FIA) is a tax-deferred financial tool designed for the long term. .RIANavBar a { 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. Flexguard Income is issued by Pruco Life Insurance Company CT disclosure MN disclosure For more information about FlexGuard Life, visit: prudential.com/landing/indexed-variable-universal-life-insurance. NEWARK, N.J., August 04, 2022--Prudential Financial, Inc. (NYSE: PRU) announced that its FlexGuard product has reached a $10 billion total sales milestone since its launch in 2020, making it the . Each company (PICA, PLAZ, PLNJ, FLIAC, PAD) is solely responsible for its own financial condition and contractual obligations. The contract number is IVUL-2022 and may be followed by a state code. 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. Sales of fixed annuities increased to . Not for Consumer Use. Prudential Financial, Inc. whos symbol of the Rock of Gibraltar, has been keeping its promises since 1875. Some of the products and services discussed on the Stages site are in development and may not be currently available. Not available in New York. 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 . .RIANavActive a { Today the Prudential fee amounts to 1.9% but a few years down the line you may be paying 2.6%! Please consult with your tax and legal advisors regarding your personal circumstances. %PDF-1.7 % The Disclosure Statement contains a more detailed description of the limited relationship MSCI has with Pruco Life Insurance Company and any related annuity contracts. 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. Fortitude Re has retained PICA as an unaffiliated Third-Party Administrator. 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. Investment advisory products and services of LINK by Prudential are made available through PCS, an SEC registered investment adviser. Growth opportunities are provided by index strategies and variable investment options. 0000015975 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. Please use one of the browsers below or contact your IT department regarding approved options. Withdrawals taken during the surrender charge period, excluding any Required Minimum Distributions (RMDs), will be subject to any applicable surrender charges and a Market Value Adjustment (MVA). 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. Prudential Financial, Inc. Variable Annuities and Variable Life Insurance are distributed by Prudential Annuities Distributors, Inc. (PAD), Shelton, CT (main office). FLIAC is in the process of changing its name from Prudential Annuities Life Assurance Corporation (PALAC) in certain jurisdictions. This is a hypothetical example for illustrative purposes only. Fortitude Re is the marketing name for FGH Parent, L.P. and its subsidiaries, including FLIAC. 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%. 0000009917 00000 n 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. All products and/or options may not be available in all states or with all broker/dealers. . kristen.olsen@prudential.com, Marisa Amador 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. Any allocations to the Index Strategies must occur on an Index Anniversary. .RIANavBar li { PruSecure offers two different ways for your clients to potentially grow their money: an index-based strategy and a xed rate strategy. 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 . 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. With an FIA, your clients money is not actually invested in any index, but rather may earn interest based on the indexs performance. An allocation to the index options is not a purchase of shares of any stock or index fund or a direct . 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. 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. It is possible to lose money by investing in securities. As of 2019, the Newark New Jersey company Prudential is the largest insurance provider in the United States with $815.1 billion in total assets. 0000011656 00000 n Levels of downside protection are available on index-crediting strategies only. Group Insurance coverages are issued by The Prudential Insurance Company of America, a Prudential Financial company, Newark, NJ. The Prudential Life Insurance Company of America Newark, NJ. Step Rate Plus Index Strategy Underperform: Pruco Life Prudential FlexGuard Indexed VA. Prudential came to the structured annuity market in early 2020, 10 years after the birth of this category. References to FLIAC shall be deemed to be references to PALAC in the jurisdictions where the name change is not yet effective. By using this website, you agree that you have read and agree to our Terms and Conditions. Subject: Announcing Prudential FlexGuard indexed variable annuity Prudential FlexGuard indexed variable annuity available on or about May 18, 2020 Dear Valued Partner, . MSCI EAFE (Europe, Australasia, Far East) is a widely accepted benchmark for international stock performance. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. 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 . 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. Salene Hitchcock-Gear President of Individual Life Insurance, Prudential (Photo: Business Wire). Available Buffers, which may vary by Index Strategy, are 10%, 15%, and 20%. Investment advisory products and services are made available through Pruco, a registered investment adviser. +1 201-835-4872 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. Investing in a variable annuity may be the answer for part of your overall retirement strategy. 0000024473 00000 n Furthermore, the underlying mutual fund fee is 0.83%. In providing this information, neither Prudential nor any of its affiliates or financial professionals is acting as your ERISA fiduciary. Year 1: No free withdrawals allowed in the first contract year, unless taken as a Required Minimum Distribution (RMD) that Prudential calculates. There is risk of loss of principal if negative index returns exceed the selected protection level. 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. In a rising interest rate environment, increases in caps if any, may be substantially slower than increases in interest rates. Pruco Life Insurance Company, an Arizona company - California COA # 3637. Unpaid loans and withdrawals reduce cash values and death benefits; and may have tax consequences. 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. Statement of Financial Condition for Prudential Investment Management Services, LLC. Allianz Life Insurance Company was #1 in U.S. Withdrawals or surrenders may be subject to contingent deferred sales charges. Actual cap rates and participation ratesmay be higher or lower. 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. Our new website has recently launched with features that may not be fully supported by your current browser. After a Performance Lock has occurred funds remain allocated to the index strategy, but the client no longer participates in the index performance, both positive or negative, for the remainder of the existing index strategy term. Clients seeking information regarding their particular investment needs should contact a financial professional. By using this website, you agree that you have read and agree to our Terms and Conditions. The buffer is the amount the Account Value is protected in the case of a negative index return. Index lossesthat exceed the buffer will result in a loss of Account Value. For more information, please visit news.prudential.com. Index-linked variable annuity products are complex insurance and investment vehicles. It does not reect a specific annuity or an actual account value. It is generally more profitable to Prudential if you purchase insurance products that are issued by a Prudential company than a non-Prudential company. 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. NEWARK, N.J. -- (BUSINESS WIRE)-- Prudential Financial, Inc. ( NYSE: PRU ), launched FlexGuard today, the company's first indexed variable annuity product, designed . Any growth is based on the index return. After Year 1: Client(s) may withdraw up to 10% of the account value each year (based on the previous contract anniversary, after all index/interest credits are applied) without surrender charges or MVA. 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 S&P 500 Index is a product of S&P Dow Jones Indices LLC ("SPDJI"), and has been licensed for use by Pruco Life Insurance Company of New Jersey. 0000010749 00000 n 0000005806 00000 n 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). 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. Withdrawals and distributions of taxable amounts are subject to ordinary income tax and, if made prior to age 59, may be subject to an additional 10% federal income tax penalty, sometimes referred to as an additional income tax. 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. Both are Prudential Financial companies located in Newark, NJ. Neither Prudential Financial, Inc. nor Assurance IQ offers, underwrites, or administers health plans or health insurance policies. 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. Partner with us, and well invest in you. to grow your money in up markets by choosing from FlexGuards three index strategies. 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 . Your clients should consult a tax advisor for more information. " As I mentioned, the Flexguard annuity has ZERO fees if invested in the segments and offers up to 20% downside protection. Kristen Olsen Suggestions may appear below after you type 3 letters. Not For Use with the Public. S&P 500, MSCI EAFE, iSHARES RUSSELL 2000 ETF, and INVESCO QQQ ETF. Bloomberg U.S. Intermediate Credit Index:BLOOMBERG is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). Rates are subject to change at any time. FLIAC is in the process of changing its name from Prudential Annuities Life Assurance Corporation (PALAC) in certain jurisdictions. If the Index Return is negative, but less than or equal to the Buffer, the Index Credit is zero. } PCS is not a licensed insurance agency or broker. Any withdrawal taken during an index term will not be eligible to receive interest at the end of the index term. 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. only and may not be approved in all states. S&P chooses the member companies for the 500 based on market size, liquidity and industry group representation. Fortitude Re is the marketing name for FGH Parent, L.P. and its subsidiaries, including FLIAC. 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. Fortitude Re and the Fortitude Re logo are service marks of Fortitude Group Holdings, LLC and its affiliates. Please consult with your tax and legal advisors regarding your personal circumstances. A surrender charge, or Contingent Deferred Sales Charge (CDSC), may apply in the event of an early withdrawal from the annuity. You will not receive a written financial plan or investment recommendations as part of the no cost consultation. On an Index Strategy End Date, the Index Strategy Base plus the Index Credit applicable to that Index Strategy would be used instead of the Interim Value. The oldest international stock index, it is the most common benchmark in the U.S. for foreign stock funds. Prudential charges 1.1% annually plus 0.8% for its Defined Income Benefit (but reserves the right to increase this fee to 1.5%). References to FLIAC shall be deemed to be references to PALAC in the jurisdictions where the name change is not yet effective. Certain indicesassociated with Index Strategies may be subject to an underlying fee or reduction. .id-Z7_G802HJS0M0B280QQVMVG6OP8R2 .ibmPortalControl .module { Copyright 2019-2023 Annuity Look 1-800-325-1833, Annuity Company Issuer Review: Prudential Financial. trailer Although the Portfolio seeks to preserve the value of your investment at $10.00 per share, it is possible to lose money by investing in the Portfolio. Comprehensive financial planning offered through the Stages channel is more limited in scope than comprehensive financial planning offered through the Prudential Advisors distribution channel. Partner with us, and well invest in you. "Prudential Advisors" is a brand name of The Prudential Insurance Company of America and its subsidiaries. Prudential Financial was founded by soon to be US senator John Dryden in 1875 with its one product of burial insurance. 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. The participation rate is an upper limit percentage increase used to calculate the interest that will be credited for a specific index term(s). Variable annuities are distributed by Prudential Annuities Distributors, Inc., Shelton, CT. 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 clients or prospective clients. Prudential FlexGuard Life is issued by Pruco Life Insurance Company and offered through Pruco Securities, LLC (member SIPC). Clients' money is not actually invested in any index, but may earn interest based on the indexs performance: In this example, the cap rate is 4%, and the participation rate is 30%. 0000008198 00000 n FlexGuard - NY's Index Strategies do not represent a direct investment in an index. Neither Prudential Financial, Inc. nor Assurance IQ issues, underwrites, or administers health plans or health insurance policies. Variable investment options are offered with this product; however, are not included for illustration purposes and do not offer downside protection. Partial downside protection is provided through the bufferwhere index losses within the buffer are protected. across well-known indices. 0000046879 00000 n If you qualify, please, A retirement strategy as individual as you are. 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 BufferQuote.comfor available fee-only buffer annuities, FlexGuard is a customizable indexed variable annuity that allows you to make choices. Clients seeking information regarding their particular investment needs should contact a financial professional. .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. Most annuities will have a 5 year, 7 year, 10 year, and 14 year surrender variation to choose from. Taking the longer surrender period will most likely give you a larger cap on indexes and a larger fixed rate option for index crediting. Typically annuities allow you to withdraw 10% of your accumulation value after the first year without surrender fees. However if you are under age 59 and a half, you are subject to a 10% IRS tax penalty as well as income taxes applied to the withdrawal. Since this investment is usually for the long term such as 10 years, it is important that the annuity company itself is financially sound. The guarantees in the annuity are back by the insurance company and not from a government agency. However each states Guaranty Association has a dollar amount, usually $100,000, that it will refund if an annuity carrier went bankrupt. 0000029765 00000 n Investing in securities involves risk, and there is always the potential of losing money. Mix and match indices, crediting strategies, and index term options to create a customized strategy that helps meet your clients needs. 2023 Prudential Financial, Inc. and its related entities. 0000021753 00000 n Interest credited with the participation rate would be 30% of 3%, which is equal to 0.90%. Prudential LINK and LINK by Prudential occasionally may be referred to as LINK. 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. +1 973-802-8969 Prudential, the Prudential logo, the Rock Symbol and Bring Your Challenges are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. 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. Each issuing insurance company is solely responsible for its own financial condition and contractual obligations. and has been licensed to Pruco Life Insurance Company ("Licensee"). 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. This zero fee hedging strategy is only available within an annuity wrapper which is why I recommended it and own a similar product with Lincoln Financial myself. LINK by Prudential is an umbrella marketing name for Prudential Customer Solutions LLC ("PCS"), Prudential Annuities Distributors, Inc. and various subsidiaries of The Prudential Insurance Company of America. It is a calculated value and is used when a withdrawal, death benefit payment, transfer, annuitization, or surrender occurs mid-term. 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. Prudentials diverse and talented employees help make lives better by creating financial opportunity for more people by expanding access to investing, insurance, and retirement security. 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 should read the prospectuses carefully before investing. Marketing and training materials contained on these websites need to be approved by the Prudential Retirement Strategies Marketing Compliance Unit prior to use. .RIANavBar li { Suggestions may appear below after you type 3 letters. If youd like to see Fortitude Re product information, please click here opens in new window. 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. Each company (PICA, PLAZ, PLNJ, FLIAC, PAD) is solely responsible for its own financial condition and contractual obligations. 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. based on your individual retirement needs and change themes those needs evolve. @media (max-width: 991px) { Group Insurance coverages are issued by The Prudential Insurance Company of America, a Prudential Financial company, Newark, NJ. In part by charging 0.95% per year on and limiting the income payout rate at age 65 to 4% of the PIV for single owners and 3.5% for joint owners. Each is a Prudential Financial company located in Newark, NJ (main office), except for PALAC which is located in Shelton, CT (main office), and each is solely responsible for its own financial condition and contractual obligations. bottom: -20px "Prudential Advisors" is a brand name of The Prudential Insurance Company of America and its subsidiaries. 0000019833 00000 n 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. Investors should carefully consider the features of the contract, index strategies, and the underlying portfolios' investment objectives, policies, management, risks, charges and expenses. Please use one of the browsers below or contact your IT department regarding approved options. The customer will have the option to allocate their premium to one or more indices listed below: The customer will have the option to allocate to one, some, or all the Index Strategies listed below: Negative Index Return is protected from loss within the Buffer associated with the selected Index Strategy. 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).. Our new website has recently launched with features that may not be fully supported by your current browser. Bloomberg or Bloomberg's licensors, own all proprietary rights in the Bloomberg Indices. Please refer to the product prospectus for fund investment strategies and fee information. Transfers from the Index Strategy(ies) to the Variable Subaccounts are not allowed at any time. These advisors currently offer only insurance products issued by PICA and its affiliates (Prudential companies). This website is for U.S. persons Opens in a new window only and may not be approved in all states. This link has sublinks - To access press Enter. Gains or losses are assessed at the end of each index. Fixed indexed annuitiesare not FDIC-insured and have limitations and surrender charges. FLIAC is in the process of changing its name from Prudential Annuities Life Assurance Corporation (PALAC) in certain jurisdictions. margin: 0; Prudential Financial names its next Emerging Visionaries For the second year, 25 exceptional young leaders are honored for their work addressing the challenges of a changing world. 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. If the Index Return is negative, but less than or equal to the Buffer, the Index Credit is zero. Call an annuity specialist at 888-311-4889 (option 2) to learn more. -webkit-transform: translate(-50%, -50%);