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,. The content on this page is for Financial Professional use only. 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. Contact your wholesaler today and have our team of experts and resources work for you. " As I mentioned, the Flexguard annuity has ZERO fees if invested in the segments and offers up to 20% downside protection. A copy of the prospectuses may be obtained from prudential.com or your financial professional. New & Different Solutions. A Stable Value Fund First Quarter 2022 Fund Fact Sheet - Page 3 qualified professional. By using this website, you agree that you have read and agree to our Terms and Conditions. Bloomberg or Bloomberg's licensors, own all proprietary rights in the Bloomberg Indices. 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. 0000010202 00000 n As a result, clientsmay receive less than the full Index Credit, or less than the full protection of the Buffer, thanthey would have received if they waited for us to apply the Index Credit on the Index Strategy End Date. Clients should read the prospectuses carefully before investing. Compliance NumberTemplate: 1000797-00012-00, At least characters must be typed in the search field in order to perform the search. and S&P 500 company whose subsidiaries provide, , and other retirement financial products to both. 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. Launched in May 2020, it features index strategies with buffers that can help limit market losses while providing investors the opportunity for asset growth. 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. Some of the products and services discussed on the Stages site are in development and may not be currently available. NEWARK, N.J. - Prudential Financial, Inc. announced that its FlexGuard product has reached a $10 billion total sales milestone since its launch in 2020, making it the fastest-growing indexed variable annuity in the industry, according to data from the Secure Retirement Institute. transform: translate(-50%, -50%) 0000005806 00000 n If the Index Return is between zero and the declared Tier Level, then the Index Credit is equal to the IndexReturn multiplied by the Participation Rate for the 1st tier. Participation Rates cannot be less than 100%. FlexGuard Life performs exactly in that way, prioritizing protection, growth and access.. Use up and down arrow keys to navigate. Prudential Financial, its affiliates, and their financial professionals do not render tax or legal advice. Statement of Financial Condition for Prudential Investment Management Services, LLC. This website is for U.S. persons Opens in a new window only and may not be approved in all states. Annuities are issued by Pruco Life Insurance Company, a Prudential Financial company, located in Newark, NJ (main office). 0000001036 00000 n Servicing the retirement income planning market has grown in popularity as baby boomers and retirees search for options to protect against market volatility and secure lifetime income. 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. The Cap Rate is the maximum rate that may be credited to this strategy. NEWARK, N.J. -- (BUSINESS WIRE)-- Prudential Financial, Inc. ( NYSE: PRU ), launched FlexGuard today, the company's first indexed variable annuity product, designed . startxref 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. 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. content: ""; Neither Prudential Financial, Inc. nor Assurance IQ offers, underwrites, or administers health plans or health insurance policies. Prudential and its affiliates are not liable for use of the Stages platform. 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. An allocation to the index options is not a purchase of shares of any stock or index fund or a direct . 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. to grow your money in up markets by choosing from FlexGuards three index strategies. 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). 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. These two index crediting strategies determine how their money may grow. You will not receive a written financial plan or investment recommendations as part of the no cost consultation. Gains or losses are assessed at the end of each term. margin: 20px 0; 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. .RIANavBar { Both are Prudential Financial companies located in Newark, NJ. Early withdrawals may result in a loss in addition to applicable surrender charges. Unique to Prudential, FlexGuard's 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. FlexGuard offers you the ability to allocate amongst the following Variable Investment options, in addition to the Index Strategies. You should read the prospectuses carefully before investing. FlexGuard - NY and all product features are not approved for use in all states or through all broker-dealers. 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. Investment advisory products and services are made available through Pruco, a registered investment adviser. 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. Access to policy cash values is through loans and withdrawals. Available through Registered Investment Advisors; offers similar features and options as the PruSecure Fixed Indexed Annuity. Receive alerts on new stories, articles, and more by subscribing to one or more RSS Feeds. FlexGuard's index strategies allow customers to select strategies providing the potential to accelerate gains above and beyond the index return when certain targets are met. 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. 5 years: 9%, 9%, 8%, 7%, 6% (California: 8.25%, 8%, 7.75%, 7%, 6%) 7 years: 9%, 9%, 8%, 7%, 6%, 5%, 4% (California: 8.25%, 8%, 7.75%, 7%, 6%, 5%, 4%) Rates will vary based on the surrender charge period chosen. 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. All guarantees, including any optional benefits, are subject to the claims-paying ability and financial strength of the issuing insurance company. These advisors currently offer only insurance products issued by PICA and its affiliates (Prudential companies). The Disclosure Statement contains a more detailed description of the limited relationship MSCI has with Pruco Life Insurance Company and any related annuity contracts. 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. 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. and has been licensed to Pruco Life Insurance Company ("Licensee"). Pruco Life Insurance Company's Product(s) is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or 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 and Dow Jones U.S. Real Estate Index. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. Other proprietary Fortitude Re marks may be designated as such through the use of the SM or symbols. 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. Prudential LINK and LINK by Prudential occasionally may be referred to as LINK. /* .RIANavActive a:before { With an FIA, your clients money is not actually invested in any index, but rather may earn interest based on the indexs performance. } 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. Each subsidiary is responsible for its own financial condition and contractual obligations. Life insurance policies contain exclusions, limitations, reductions of benefits, and terms for keeping them in force. Withdrawals or surrenders may be subject to contingent deferred sales charges. All names, marks, and materials used for this review are the property of their respective owners. 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"). I hope you found this look informative and found value in your time. Aloha! padding: 15px 0 15px 0; Fixed indexed annuitiesare not FDIC-insured and have limitations and surrender charges. Marketing and training materials contained on these websites need to be approved by the Prudential Retirement Strategies Marketing Compliance Unit prior to use. Group Insurance coverages are issued by The Prudential Insurance Company of America, a Prudential Financial company, Newark, NJ. 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. 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. In providing this information, neither Prudential nor any of its affiliates or financial professionals is acting as your ERISA fiduciary. position: absolute; References to FLIAC shall be deemed to be references to PALAC in the jurisdictions where the name change is not yet effective. 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. 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. 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. Receiving benefits under the terms of an accelerated death benefit rider for chronic or terminal illness will reduce and may eliminate the death benefit. Caps for the 3-year term cannot be less than 5% and for a 6-year term cannot be less than 10%. The buffer will vary by the selected strategy, term length, andindex elected. Rates, buffers, and floors can also be different for each index option. 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. 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. 0000009414 00000 n /*background-color: #07639d;*/ 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. 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. Copyright 2019-2023 Annuity Look 1-800-325-1833, Annuity Company Issuer Review: Prudential Financial. Early withdrawals may result in a loss in addition to applicable surrender charges. The solution is customizable and can be adjusted based on changing needs, giving consumers the opportunity to take control over their future. 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 * Your clients should consult a tax advisor for more information. The product prospectus contains a more detailed description of the limited relationship MSCI has with Pruco Life Insurance Companyof New Jersey and any related annuity contracts. Surrender charges/fees and periods for this annuity are the typical of most commissionable annuities. Refer to the prospectus for additional information. 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. . If youd like to see Fortitude Re product information, please click here opens in new window. 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. Fortitude Re is the marketing name for FGH Parent, L.P. and its subsidiaries, including FLIAC. +1 201-835-4872 Call an annuity specialist at 888-311-4889 (option 2) to learn more. All guarantees and benefits of the insurance policy are backed by the credit worthiness and claims-paying claims-paying ability of Pruco Life Insurance Company and do not apply to the underlying investment options. Featured News Stories. for Prudential Investment Management Services, LLC. 0000008735 00000 n Prudential will not warn clientsif theyexercise a Performance Lock at a sub-optimal time. Unfortunately, that didnt rule holding agent up to a higher standard, as a fiduciary, did not pass. 0000008048 00000 n Available through certain broker/dealers and offers select index-based strategies and terms. . height: 100%; Prudential Financial Inc. (NYSE: PRU), today launched FlexGuard Income, a new indexed variable annuity that provides customers with investment strate 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. This is a hypothetical example for illustrative purposes only. We have also seen a high click-through to the FlexGuard Rate Sheet. Not all term and buffer options are available for each index crediting strategy. The Insurance Charge is a combination of the Mortality & Expense Risk Charge and the Administration Charge. Comprehensive financial planning offered through the Stages channel is more limited in scope than comprehensive financial planning offered through the Prudential Advisors distribution channel. border-bottom: 10px solid #ccc; 0000030064 00000 n * The 5-year index term can only be elected at contract issue and cannot be renewed. Renewal rates may be different than those listed below. Actual cap rates and participation ratesmay be higher or lower. Please use one of the browsers below or contact your IT department regarding approved options. Announces 2022 Results. 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. PruSecure offers two different ways for your clients to potentially grow their money: an index-based strategy and a xed rate strategy. It is a calculated value that differs from the Interim Value Calculation (refer to the prospectus for additional information) and is used when a Performance Lock transaction occurs. If the client chooses to defer their Index Effective Date, the allocations for the Index Strategies will be placed in the Transfer Account and will automatically be transferred to the Index Strategies, if within the Transfer Account Period. only and may not be approved in all states. Choose one or a combination of them. Prudential Financial Fact Sheet. FlexGuard - NY and all its features may not be approved in allbroker-dealers. The more loss protection or buffer you select, the less upside gain from the index you will receive. 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 . Change of Ownership terminates the Return of Purchase Payments death benefit. 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. 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. Investing in Prudential FlexGuard or FlexGuard Income's index strategies does not represent a direct investment in an index. 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. "Prudential Advisors" is a brand name of The Prudential Insurance Company of America and its subsidiaries. @media (max-width: 991px) { Step Rate Plus Index Strategy Index underperforms the Step Rate: 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. This product will issue daily. 528 0 obj <> endobj Growth opportunities with added ability to lock in performance.

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