The information is not intended as investment advice and is not a recommendation about managing or investing a clients retirement savings. 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. 0000008048 00000 n
Marketing and training materials contained on these websites need to be approved by the Prudential Retirement Strategies Marketing Compliance Unit prior to use. 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). 528 0 obj
<>
endobj
The product builds upon the record success of FlexGuard, the fastest-selling indexed variable annuity launch ever in the industry, achieving more than $3.5 . The buffer is the amount the Account Value is protected in the case of a negative index return. FlexGuard Income is initially available through Prudential Advisors financial professionals and will expand to additional, third-party broker dealers in fall 2021. Group Insurance coverages are issued by The Prudential Insurance Company of America, a Prudential Financial company, Newark, NJ. Prudential FlexGuard commissionable annuity (B-shares) have a 6 year surrender charge starting at 7% charge in the first year and second year following with a 1% reduction every year after that. 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. height: 100%; The Performance Value will not fluctuate for the remainder of the existing index strategy term unless there is a withdrawal or reallocation. 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. hb``f``b`e`~bl,+00e@L. On each Index Anniversary Date, you may reallocate any Index Strategy that has reached the end of the Index Term or allocate money into new Index Strategies. Prudential Financial Fact Sheet. A floor offers 100% downside protection in the event of a market loss. 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. Please use one of the browsers below or contact your IT department regarding approved options. 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 . Please refer to the current rate sheet and prospectus for more information. Any allocations to the Index Strategies must occur on an Index Anniversary. It offers a level of protection for your clients money against loss with the opportunity for it to grow based on the performance of a specific market index, or combination of indices. If youd like to see Fortitude Re product information, please click here opens in new window. Fortitude Re has retained PICA as an unaffiliated Third-Party Administrator. 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. padding: 0; These advisors currently offer only insurance products issued by PICA and its affiliates (Prudential companies). 0000009414 00000 n
Please consult with your tax and legal advisors regarding your personal circumstances. 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. margin: 0; In this annuity review we will be going over annuity details regarding the Prudential Flex Guard Structed Variable annuity. References to FLIAC shall be deemed to be references to PALAC in the jurisdictions where the name change is not yet effective. PruSecure was designed to meet the needs of clients who are: Initial: $10,000 Subsequent: Not Permitted, Minimum: None / Maximum: 85 Contracts may not be issued on or after the 86th birthday of the oldest of all owners and annuitants, No later than the first contract anniversary on or after the oldest owner's or annuitant's 95th birthday, Indexed-Based Strategy with Point-to-Point Crediting with Cap Rate and Point-to-Point Crediting with Participation Rate. Statement of Financial Condition for Prudential Investment Management Services, LLC. The commission-based version launches today, with a fee-based version of FlexGuard . 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. If the Index Return is greater than or equal tothe declared Tier Level, the Index Credit is the sum of the Tier Level Index Return multiplied by theParticipation Rate for the 1st tier and the remaining Index Return multiplied by the Participation Rate forthe 2nd tier. 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: . Comprehensive financial planning offered through the Stages channel is more limited in scope than comprehensive financial planning offered through the Prudential Advisors distribution channel. 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. 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. If the index increased by 3%, an amount that is less than the cap rate of 4%, the credited interest would be 3%. Bloomberg U.S. Intermediate Credit Index:BLOOMBERG is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). MSCI EAFE Index: The annuity contract referred to herein is not sponsored, promoted or endorsed by MSCI, and MSCI bears no liability with respect to any such annuity contract or any index referred to by any such annuity contract. 0000046767 00000 n
See current PruSecure Select rate sheetPDF opens in a new window, Index-Based Strategy with Point-to-Point Crediting with Cap Rate. Our new website has recently launched with features that may not be fully supported by your current browser. Ifclients are looking to protect their money from market loss and still want the potential for growth, the PruSecure Fixed Indexed Annuity offers them both. .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. 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. bottom: -18px August 04, 2022 Prudential FlexGuard reaches $10B total sales milestone at record pace New & Different Solutions. Fortitude Re and the Fortitude Re logo are service marks of Fortitude Group Holdings, LLC and its affiliates. Comprehensive financial planning offered through the Stages channel is more limited in scope than comprehensive financial planning offered through the Prudential Advisors distribution channel. 0000061397 00000 n
Actual cap rates and participation ratesmay be higher or lower. * "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. . Alternatively, clients may allocate 100% of their initial Purchase Payment to the Variable Subaccounts. Rates are subject to change at any time. Prudential and its affiliates are not liable for use of the Stages platform. 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. At the time your clients purchase the contract, they may select a 5- or 7-year surrender charge period, which is the amount of time they must wait until they can withdraw funds from their annuity without facing a penalty charge. 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. Buffer. Subsequent rates and Tier Levels may differ from the rates and Tier Levels used for new contracts or for other contracts issued at different times. In a rising interest rate environment, increases in caps if any, may be substantially slower than increases in interest rates. 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. PruSecure is issued byPruco Life Insurance Company and oers clients these distinct advantages when compared with other fixed indexed annuities: For over 145years, Prudential's Rock symbol has been an icon for nancial strength and stability. 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. 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. Gains or losses are assessed at the end of each term. Other proprietary Fortitude Re marks may be designated as such through the use of the SM or symbols. Pruco Life Insurance Company, an Arizona company - California COA # 3637. The cap rate is the maximum amount of interest that can be credited during a specific index term. Insurance and/or annuities are issued by The Prudential Insurance Company of America, Pruco Life Insurance Company (except in NY and/or NJ), Pruco Life Insurance Company of New Jersey (in NY and/or NJ), and Prudential Annuities Life Assurance Corporation (PALAC). Unpaid loans and withdrawals reduce cash values and death benefits; may reduce the duration of the guarantee against lapse, which may lapse the policy; and may have tax consequences. It offers you lifetime income with levels of protection and growth potentialbefore and after you start income. 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, Free Withdrawals in each contract year are not cumulative, Contingent Deferred Sales Charges will not apply to Required Minimum Distributions that Prudential calculates, Total Annualized Insurance Fees and Charges for Net Purchase Payments less than 1 Million: 1.30%, Total Annualized Insurance Fees and Charges for Net Purchase Payments of at least $1 Million: 1.20%, Subsequent Cap and Participation Rates may be higher or lower than the initial Rates, but will never be less than the Guaranteed Minimum Rates. 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. to grow your money in up markets by choosing from FlexGuards three index strategies. Prudential FlexGuard Life and all product features are not approved for use in all states or through all broker-dealers. 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. Investment advisory products and services of LINK by Prudential are made available through PCS, an SEC registered investment adviser. Rates are subject to change at any time. 2023 Prudential Financial, Inc. and its related entities. FlexGuard - NY and all its features may not be approved in allbroker-dealers. Fortitude Re has retained PICA as an unaffiliated Third-Party Administrator. Neither Prudential Financial, Inc. nor Assurance IQ issues, underwrites, or administers health plans or health insurance policies. Marketing and training materials contained on these websites need to be approved by the Prudential Retirement Strategies Marketing Compliance Unit prior to use. If the Index Return is negative, but less than or equal to the Buffer, the Index Credit is zero. This website is for U.S. persons Opens in a new window only and may not be approved in all states. 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. transform: translate(-50%, -50%) only and may not be approved in all states. for the Prudential FlexGuard Income Index Linked Variable Income Benefit (the "Benefit") available with the Annuity. 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. Surrender charges/fees and periods for this annuity are the typical of most commissionable annuities. Prudential, also known as "The Rock," has been in business for nearly 140 years. 0000001537 00000 n
A fixed indexed annuity (FIA) is a tax-deferred financial tool designed for the long term. 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). 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. 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. Featured News Stories. Both are Prudential Financial companies located in Newark, NJ. 0000024403 00000 n
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. The Prudential FlexGuard indexed variable annuity to which this disclosure applies (the "Product") has been developed solely by . Participation Rates cannot be less than 100%. Prudential FlexGuard indexed variable annuity, Securities products and services are offered through: Pruco Securities, LLC and Prudential Investment Management Services, LLC, both members, prudential.com/landing/indexed-variable-universal-life-insurance, Prudential FlexGuard reaches $10B total sales milestone at record pace, Prudential launches FlexGuard Income indexed variable annuity a new investment and income strategy with enhanced flexibility and control, Prudential Financial Launches Prudential Community Grants Program to Provide Micro-Grants to Local Individuals and Non-profit Organizations, Prudential, Vitality Global expand partnership in Latin America, Prudential Financial names its next Emerging Visionaries, Check the background of this firm on FINRA's BrokerCheck, Indexed variable universal life solution offers both protection and growth, Builds upon success of FlexGuard variable annuity products. 0000036749 00000 n
See current FlexGuard - NY rates NY disclosure Benefits Features Tools font-weight: bold; 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. Funds allocated to the index-based strategies have the potential to grow based on the performance of their chosen indices, comparing the value on the rst day to the value on the last day of their 1-, 3-, or 5-year. By using this website, you agree that you have read and agree to our Terms and Conditions. Early withdrawals may result in a loss in addition to applicable surrender charges. Perseus Mining (TSX:PRU) Dividend Yield % as of today (March 01, 2023) is 1.25%. FlexGuard Life performs exactly in that way, prioritizing protection, growth and access.. 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 is the marketing name for FGH Parent, L.P. and its subsidiaries, including FLIAC. 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. padding: 15px 0 15px 0; How does the issuer pay for all this? Annuities are issued by Pruco Life Insurance Company, a Prudential Financial company, located in Newark, NJ (main office). It is not possible to invest directly in an index. 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. Minimum Renewal Cap Rate, Participation Rate & Fixed Rate. By using this website, you agree that you have read and agree to our Terms and Conditions. border-left: 10px solid transparent; trailer
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.