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. 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 Financial Inc. (NYSE: PRU), today launched FlexGuard Income, a new indexed variable annuity that provides customers with investment strate Prudential Financial, its affiliates, and their financial professionals do not render tax or legal advice. During this period, if they withdraw any or all of the money from the annuity, surrender charges and a Market Value Adjustment will apply. Each issuing insurance company is solely responsible for its own financial condition and contractual obligations. These rates are set by Prudential Annuities and effective as of the date indicated above. In 2017 Department of Labors fiduciary rule being struck down in federal court of Appeals has been especially helpful in the sales of indexed annuities. How does the issuer pay for all this? The Interim Value for each Index Strategy plus the total value of any allocations in the Variable Investment Subaccounts (including the Holding Account) and the Transfer Account on any Valuation Day other than the Index Strategy Start Date and Index Strategy End Date. ** The websites referenced above are not endorsed or supported by any of the Prudential Financial companies. trailer The cap rate is the maximum amount of interest that can be credited during a specific index term. 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. It is not possible to invest directly in an index. In providing this information, neither Prudential nor any of its affiliates or financial professionals is acting as your ERISA fiduciary. 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. For complete information about the annuity, please refer to the PruSecure Important Information Disclosure Statement PDF opens in a new window. .RIANavBar ul { .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. FlexGuard Income is a retirement product that you and your financial professional can customize based on your unique needs. If you qualify, please, A retirement strategy as individual as you are. .RIANavActive a:after, FlexGuard - NY offers them the opportunity to choose their buffer level as well as their term length. For additional important information about the products, services and companies that make them available, please click here Opens in a new window.*. Prudential Financial Fact Sheet. Partial downside protection is provided through the bufferwhere index losses within the buffer are protected. PCS is not a licensed insurance agency or broker. Please reference the prospectus for information about the levels of protection available and other important product information. Any allocations to the Index Strategies must occur on an Index Anniversary. .id-Z7_G802HJS0M0B280QQVMVG6OP8R2 .ibmPortalControl .module { 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. 0000036749 00000 n Other proprietary Fortitude Re marks may be designated as such through the use of the SM or symbols. On an Index Strategy Start Date, the Index Strategy Base applicable to that Index Strategy would be used instead of the Interim Value. 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. Prudential Financial was founded by soon to be US senator John Dryden in 1875 with its one product of burial insurance. S&P 500, MSCI EAFE, iSHARES RUSSELL 2000 ETF, and INVESCO QQQ ETF. 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. Portfolio Allocation The pie chart illustrates how investment . 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. Both are Prudential Financial companies located in Newark, NJ. 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. Today, Prudential is one of the most recognized and one of the world's largest financial services institutions.. Low-risk investments today offer little growth opportunity, while investing in the stock market can be risky. Rates are subject to change at any time. Upon renewal or reallocation, your clients may continue with the same strategy and allocation, or choose from the other strategies and terms available at that time. Step Rate Plus Index Strategy Index underperforms the Step Rate: FlexGuard also enables you to diversify where you put your money by allocating. Withdrawals or surrenders may be subject to contingent deferred sales charges. Created Exclusively for Use by Financial Professionals. It can be customized based on a client's retirement goals and adjusted as their needs change. 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). Clients seeking information regarding their particular investment needs should contact a financial professional. A positive or negative MVA may also apply. It is not possible to invest directly in an index. Today the Prudential fee amounts to 1.9% but a few years down the line you may be paying 2.6%! The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. Subsequent Rates may differ from the Rates used for new contracts or for other contracts issued at different times, Certain securities products and services are offered through Pruco Securities, LLC and Prudential Investment Management Services, LLC, both members. Please consult with your tax and legal advisors regarding your personal circumstances. Certain indicesassociated with Index Strategies may be subject to an underlying fee or reduction. 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. *The 5-year index term can only be elected at contract issue and cannot be renewed. Caps, Precision Rates, and DPSCs for a 1-year term cannot be less than 1.50%. Prudential Financial Inc. 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. The Performance Lock feature is an optional featureavailable on FlexGuard - NY that allows clients to lock in gains or limit the potential for a loss prior to the Index Strategy End Date. You will not receive a written financial plan or investment recommendations as part of the no cost consultation. 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. In providing this information, neither Prudential nor any of its affiliates or financial professionals is acting as your ERISA fiduciary. } 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. bottom: -18px Please refer to the current rate sheet and prospectus for more information. 0000001346 00000 n Use up and down arrow keys to navigate. Any growth is based on the index return. If the index increased by 20% which is greater than the cap rate of 4% the interest credited would be 4%. By using this website, you agree that you have read and agree to our Terms and Conditions. opens in new window. . 0000024473 00000 n 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. Your clients should consult a tax advisor for more information. Compliance NumberTemplate: 1000797-00012-00. Topics Protection Income Partner with us, and well invest in you. 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. 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. Please refer to the product prospectus for fund investment strategies and fee information. display: block; It is generally more profitable to Prudential if you purchase insurance products that are issued by a Prudential company than a non-Prudential company. strategies called Tiered Participation Rate and Step Rate Plus, that can enable you to accelerate a portion of your growth potential in up markets, providing you with the possibility of earning even more. marisa.amador@prudential.com, Amid market volatility, Prudentials innovative investment strategy meets increased need for asset protection. This website is for U.S. persons Opens in a new window only and may not be approved in all states. 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. Lets get to it. 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 . 0000009387 00000 n Prudential FlexGuard income indexed variable annuity . But why should they have to sacrifice one for the other? Your licensed financial professional can provide you with complete details. 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%. It is possible to lose money by investing in securities. border-left: 10px solid transparent; The applicable Income Percentage and Income Deferral Rate is based on the attained age of the Protected Life (or younger of the Joint Protected Lives) on the Index Effective Date, according to the tables below: . Prudential FlexGuard Life and all product features are not approved for use in all states or through all broker-dealers. .RIANavBar { 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. Choose one or a combination of them. If the index decreased by any amount at all,client loses nothing whether they chose the cap rateor participation rate, as they are protected by the floor. 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. to grow your money in up markets by choosing from FlexGuards three index strategies. 0000001537 00000 n Fortitude Re is the marketing name for FGH Parent, L.P. and its subsidiaries, including FLIAC. Our Certified Financial Planner professional (CFP) will answer your questions FREE within 24 hours. 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. 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. 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. New & Different Solutions. 0000008048 00000 n Access to policy cash values is through loans and withdrawals. Use our income modeling tool Current Index Strategy Rates and Caps Current Income Percentages and Deferral Rates CT disclosure The experience has also seen over 400 users click through to the FlexGuard Modeling Tool. Variable investment options are offered with this product; however, are not included for illustration purposes and do not offer downside protection. Typically, the longer the surrender charge period, the higher the fixed rates and index-based cap rates and participation rates. 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. It affords them access to cash values when needed, providing the unique opportunity to leave a legacy while also expanding access to living benefits. %PDF-1.7 % Our new website has recently launched with features that may not be fully supported by your current browser. 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%. In this annuity review we will be going over annuity details regarding the Prudential Flex Guard Structed Variable annuity. Mix and match indices, crediting strategies, and index term options to create a customized strategy that helps meet your clients needs. 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. Available Buffers, which may vary by Index Strategy, are 10%, 15%, and 20%. It is generally more profitable to Prudential if you purchase insurance products that are issued by a Prudential company than a non-Prudential company. Bloomberg U.S. Intermediate Credit Index:BLOOMBERG is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). Clients seeking information regarding their particular investment needs should contact a financial professional. Please consult with your tax and legal advisors regarding your personal circumstances. What Will We Cover in this Annuity Review? Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager, has operations in the United States, Asia, Europe, and Latin America. Fortitude Re has retained PICA as an unaffiliated Third-Party Administrator. If the Index Return is negative, but less than or equal to the Buffer, the Index Credit is zero. Change of Ownership terminates the Return of Purchase Payments death benefit. .RIANavBar a { bottom: -20px Automatic Performance Lock targets must reflect positive growth in the Performance Lock Value. Investing in FlexGuard Lifes Index Strategies does not represent a direct investment in an index. 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. .RIANavActive a:before { margin: 20px 0; 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. Clients seeking information regarding their particular investment needs should contact a financial professional. Investors like you doing research on annuities to combat the above concerns are finding it more difficult with all the different types of annuities like hybrid annuities, equity-linked annuities, buffer annuities, fixed index annuities (FIA), and variable annuities. The best selling retirement annuity of 2021 is the registered index-linked annuity (RILA), the $17.4 billion market for structured variable annuities also sometimes referred to as a variable indexed annuity, structured variable annuity, buffer annuity, or a structured annuity is essentially a blend of the best part of a variable annuity and limited downside protection of a fixed indexed annuity (FIA).. . FLIAC is in the process of changing its name from Prudential Annuities Life Assurance Corporation (PALAC) in certain jurisdictions. I hope you found this look informative and found value in your time. Aloha! 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. 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. A copy of the prospectuses may be obtained from prudential.com or your financial professional. Not available in New York. margin: 0; Other proprietary Fortitude Re marks may be designated as such through the use of the SM or symbols. You should read the prospectuses carefully before investing. 1-Year Term 3-Year Term 1-Year Term (Step Rate) 1-Year Term (Fixed Account) Get started today. 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.