Each subsidiary is responsible for its own financial condition and contractual obligations. 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. Term: The number of years that the Shield Option is in effect. Prudential FlexGuard Life is issued by Pruco Life Insurance Company and offered through Pruco Securities, LLC (member SIPC). Prudential Financial Fact Sheet. Bloomberg is not affiliated with Pruco Life Insurance Company nor approves, endorses, reviews or recommends PruSecure. 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. 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. 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. Receive alerts on new stories, articles, and more by subscribing to one or more RSS Feeds. But that can create a dilemma. Prudential and its affiliates are not liable for use of the Stages platform. * The 5-year index term can only be elected at contract issue and cannot be renewed. startxref NEWARK, N.J. -- (BUSINESS WIRE)-- Prudential Financial, Inc. ( NYSE: PRU ), launched FlexGuard today, the company's first indexed variable annuity product, designed . 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. If the Index Return is positive and equal to or greater than the Cap Rate, then the Index Credit is equal tothe Cap Rate. How life can change 'in a split second' A Prudential employee shares her story to help others realize the importance of life insurance. 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. 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. Salene Hitchcock-Gear President of Individual Life Insurance, Prudential (Photo: Business Wire). Please consult with your tax and legal advisors regarding your personal circumstances. position: absolute; 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. margin: 0; If the index increased by 20% which is greater than the cap rate of 4% the interest credited would be 4%. 0000015975 00000 n 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. Or download ourclient-approved brochure PDF opens in new window, product prospectus opens in new window and rate sheet PDF Opens in New Window to share with clients and help educate them about FlexGuard - NY. Rates, buffers, and floors can also be different for each index option. Our new website has recently launched with features that may not be fully supported by your current browser. 0000008198 00000 n August 04, 2022 Prudential FlexGuard reaches $10B total sales milestone at record pace } 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. This and other important information are contained in the initial summary prospectus and the index strategies prospectus for the contract and the summary prospectus or prospectus for the underlying portfolios (collectively, the "prospectuses") which can be obtainedon the prospectus page or by contacting the National Sales Desk. Comprehensive financial planning offered through the Stages channel is more limited in scope than comprehensive financial planning offered through the Prudential Advisors distribution channel. 0000010202 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 . 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. In providing this information, neither Prudential nor any of its affiliates or financial professionals is acting as your ERISA fiduciary. 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. 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. Today, Prudential is one of the most recognized and one of the world's largest financial services institutions.. Index-linked variable annuity products are complex insurance and investment vehicles. In providing this information, neither Prudential nor any of its affiliates or financial professionals is acting as your ERISA fiduciary. 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. 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. } Compliance NumberTemplate: 1000797-00012-00. The rule, which raised investment-advice standards in retirement accounts, would of made brokers and insurance agents become fiduciaries to sell indexed annuity and other financial products opening up potential lawsuits from bad sales of annuity products. It can be customized based on a client's retirement goals and adjusted as their needs change. Pruco Life Insurance Company, an Arizona company - California COA # 3637. Unlike standard death benefits that provide only the greater of premiums paid or current account value, if your client passes away during their index term, their beneficiaries will also receive a portion of any index growth up to that point. Fortitude Re and the Fortitude Re logo are service marks of Fortitude Group Holdings, LLC and its affiliates. 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. 0000017237 00000 n +1 973-802-8969 Pruco Life Insurance Companyof New Jersey's Product(s) is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index. "Prudential Advisors" is a brand name of The Prudential Insurance Company of America and its subsidiaries. This website is for U.S. persons Opens in a new window only and may not be approved in all states. It offers you lifetime income with levels of protection and growth potentialbefore and after you start income. 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. Please consult with your tax and legal advisors regarding your personal circumstances. The content on this page is for Financial Professional use only. opens in new window. Our new website has recently launched with features that may not be fully supported by your current browser. Withdrawals or surrenders may be subject to contingent deferred sales charges. 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. 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. MFS Value Series Service Class MFS International Growth Portfolio Service Class MFS Total Return Series Service Class MFS Total Return Bond Series Service Class PSF PGIM Government Money Market Portfolio Class III default Holding Account. <]/Prev 624911/XRefStm 1346>> New & Different Solutions. This website is for U.S. persons Opens in a new window only and may not be approved in all states. Neither Prudential Financial, Inc. nor Assurance IQ issues, underwrites, or administers health plans or health insurance policies. For more information about FlexGuard Life, visit: prudential.com/landing/indexed-variable-universal-life-insurance. Each company (PICA, PLAZ, PLNJ, FLIAC, PAD) is solely responsible for its own financial condition and contractual obligations. Choose one or a combination of them. Created Exclusively for Use by Financial Professionals. 0000001712 00000 n 1-Year Term 3-Year Term 1-Year Term (Step Rate) 1-Year Term (Fixed Account) Get started today. -webkit-transform: translate(-50%, -50%); Growth opportunities are provided by index strategies and variable investment options. 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. Please use one of the browsers below or contact your IT department regarding approved options. FlexGuard Income is initially available through Prudential Advisors financial professionals and will expand to additional, third-party broker dealers in fall 2021. 0000024573 00000 n Investment advisory products and services of LINK by Prudential are made available through PCS, an SEC registered investment adviser. Launched in May 2020, it features index strategies with buffers that can help limit market losses while providing investors the opportunity for asset growth. Clients seeking information regarding their particular investment needs should contact a financial professional. ** The websites referenced above are not endorsed or supported by any of the Prudential Financial companies. to grow your money in up markets by choosing from FlexGuards three index strategies. Unfortunately, that didnt rule holding agent up to a higher standard, as a fiduciary, did not pass. Buffers and floors cannot change for a contract after they are established. Fortitude Re has retained PICA as an unaffiliated Third-Party Administrator. Compliance NumberTemplate: 1000797-00012-00. 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. border-bottom: 10px solid #002247; Change of Ownership terminates the Return of Purchase Payments death benefit. 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. It affords them access to cash values when needed, providing the unique opportunity to leave a legacy while also expanding access to living benefits. However, transfers among Variable Subaccounts may occur at any time. 0000009387 00000 n Are you a licensed financial professional? 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. Some of the products and services discussed on the Stages site are in development and may not be currently available. 2023 Prudential Financial, Inc. and its related entities. You will not receive a written financial plan or investment recommendations as part of the no cost consultation. } Please refer to the product prospectus for fund investment strategies and fee information. Available through certain broker/dealers and offers select index-based strategies and terms. +1 201-835-4872 Prudentials iconic Rock symbol has stood for strength, stability, expertise, and innovation for more than a century. Prudential FlexGuard income indexed variable annuity DOWNLOAD Slides 3-6 show how investing in an uncertain market or relying on fixed income has taken its toll. Slide 7 establishes how rethinking your approach to asset allocation may be smart. left: 50%; Other proprietary Fortitude Re marks may be designated as such through the use of the SM or symbols. It is generally more profitable to Prudential if you purchase insurance products that are issued by a Prudential company than a non-Prudential company. 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.