Please refer to the product prospectus for fund investment strategies and fee information. This page specifically focuses on Prudential products. Term: The number of years that the Shield Option is in effect. 0 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). Neither Bloomberg nor UBS guarantees the timeliness, accurateness, or completeness of any data or information relating to Bloomberg Commodity IndexSM. bottom: -20px In providing this information, neither Prudential nor any of its affiliates or financial professionals is acting as your ERISA fiduciary. The Prudential FlexGuard indexed variable annuity to which this disclosure applies (the "Product") has been developed solely by . 0000008735 00000 n The annuity carrier has not endorsed this review in any way nor do we receive any compensation for this review. 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. 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%. The Segment Rate of Return for a Choice Segment will always be less than (a) the Performance Cap Rate and (b) the index performance rate, if positive, for that Segment. prudential flexguard rate sheet. 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. Fortitude Re and the Fortitude Re logo are service marks of Fortitude Group Holdings, LLC and its affiliates. 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. You also have the opportunityto grow your money in up markets by choosing from FlexGuards three index strategies. It is not possible to invest directly in an index. Access to policy cash values is through loans and withdrawals. Suggestions may appear below after you type 3 letters. Each subsidiary is responsible for its own financial condition and contractual obligations. 0000024473 00000 n hb``f``b`e`~bl,+00e@L. Clients seeking information regarding their particular investment needs should contact a financial professional. 0000011656 00000 n trailer 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. For additional important information about the products, services and companies that make them available, please click here Opens in a new window.*. <]/Prev 624911/XRefStm 1346>> +1 201-835-4872 For complete information about the annuity, please refer to the PruSecure Important Information Disclosure Statement PDF opens in a new window. What Will We Cover in this Annuity Review? 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. The solution is customizable and can be adjusted based on changing needs, giving consumers the opportunity to take control over their future. If they make a full withdrawal of the annuity, they will receive the greater of the account value (minus any surrender charges and adjusted by any applicable MVA) and the Minimum Guaranteed Surrender Value. Each subsidiary is responsible for its own financial condition and contractual obligations. 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. Furthermore, the underlying mutual fund fee is 0.83%. 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. 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. marisa.amador@prudential.com, Amid market volatility, Prudentials innovative investment strategy meets increased need for asset protection. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. By using this website, you agree that you have read and agree to our Terms and Conditions. Before purchasing any investment product be sure to do your own due diligence and consult a properly licensed professional, preferably a certified financial planner practitioner,should you have specific questions as they relate to your individual circumstances. Salene Hitchcock-Gear President of Individual Life Insurance, Prudential (Photo: Business Wire). A positive or negative MVA may also apply. Please consult with your tax and legal advisors regarding your personal circumstances. startxref The Prudential Insurance Company of America - California COA # 1179. How does the issuer pay for all this? Withdrawals taken during the surrender charge period, excluding any Required Minimum Distributions, will be subject to any applicable surrender charges and a Market Value Adjustment. margin: auto; ABOUT PRUDENTIAL INDIVIDUAL LIFE INSURANCE 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. Index-linked variable annuity products are complex insurance and investment vehicles. Rates, buffers, and floors can also be different for each index option. 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. Group Insurance coverages are issued by The Prudential Insurance Company of America, a Prudential Financial company, Newark, NJ. across well-known indices. Contact your wholesaler today and have our team of experts and resources work for you. 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. Investors should carefully consider the features of the contract, index strategies, and the underlying portfolios' investment objectives, policies, management, risks, charges and expenses. Are you a licensed financial professional? With an FIA, your clients money is not actually invested in any index, but rather may earn interest based on the indexs performance. Receiving benefits under the terms of an accelerated death benefit rider for chronic or terminal illness will reduce and may eliminate the death benefit. 0000024403 00000 n Pruco Life Prudential FlexGuard Indexed VA. Prudential came to the structured annuity market in early 2020, 10 years after the birth of this category. Automatic Performance Lock targets must reflect positive growth in the Performance Lock Value. Partner with us, and well invest in you. 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. 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. Each company (PICA, PLAZ, PLNJ, FLIAC, PAD) is solely responsible for its own financial condition and contractual obligations. content: ""; .id-Z7_G802HJS0M0B280QQVMVG6OP8R2 .ibmPortalControl .module { Bloomberg Commodity Index reflects changes in a broad range of commodity futures prices, from crude oil and coffee to gold and cattle. 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. It is generally more profitable to Prudential if you purchase insurance products that are issued by a Prudential company than a non-Prudential company. These two index crediting strategies determine how their money may grow. Prudential Financial was founded by soon to be US senator John Dryden in 1875 with its one product of burial insurance. 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. 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. Lets get to it. 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. I hope you found this look informative and found value in your time. Aloha! 1-Year Term 3-Year Term 1-Year Term (Step Rate) 1-Year Term (Fixed Account) Get started today. 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. They are options held on the indexes at the annuity carriers investment department. Most indexes described above will NOT include the dividends which historically represent some returns in the case of the S&P 500 index. For additional important information about the products, services and companies that make them available, please click here Opens in a new window.*. 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 . } 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 . Prudential FlexGuard Income is an indexed variable annuity that offers income with various levels of protection and the opportunity to capitalize on market growth, even after clients have started taking income. 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. Early withdrawals may result in a loss in addition to applicable surrender charges. 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. Prudential Retirement Insurance and Annuity Company - California COA # 08003. 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. Prudential is not responsible for any losses related to decisions whether or not to exercise a Performance Lock. If the Index Return is negative, but less than or equal to the Buffer, the Index Credit is zero. The client'smoney is not actually invested in any index, but may earn interest credits based on the indexs performance. Allocations among variable investment options can happen at any time. Prudential and its affiliates are not liable for use of the Stages platform. Renewal rates may be different than those listed below. 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. 0000005806 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. FlexGuard - NY is issued byPruco Life Insurance Company. B-Share 6 years: 7%, 7%, 6%, 5%, 4%, 3%; based on the effective date of each Purchase Payment and the percentage of the amount withdrawn from the Purchase Payment, above the free withdrawal amount. 0000036749 00000 n This area is reserved for members of the news media. 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. 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. transform: translate(-50%, -50%) May 18, 2020 8:00AM EDT. 0000021753 00000 n 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. Fortitude Re and the Fortitude Re logo are service marks of Fortitude Group Holdings, LLC and its affiliates. 0000005742 00000 n 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. 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.