NEWARK, N.J.–(BUSINESS WIRE)–$PRU #Prudential–Prudential Annuities, the domestic annuity business for Prudential
Financial, Inc. (NYSE:
PRU) today launched Legacy
Protection Plus, a new optional enhanced death benefit available on
Prudential’s Premier Retirement variable annuities. Legacy Protection
Plus is designed to help protect, grow and transfer wealth, creating a
legacy for beneficiaries.
“We carefully designed Legacy Protection Plus for investors who have
committed themselves to a lifetime of hard work, investing wisely and
planning for their retirement and beyond. Legacy Protection Plus offers
the ability to protect their legacy, benefit from tax deferral, and
guarantee their legacy will grow regardless of market performance,” said
Jim Mullery, head of Distribution and Sales for Prudential Annuities.
“In addition to being able to control how their payouts are distributed,
Legacy Protection Plus also allows investors who are passionate about a
charity or organization to name it as their beneficiary.”
Legacy Protection Plus offers:
Protection: A roll-up death benefit guarantee that protects an
investor’s legacy no matter how their investments perform.
Growth: Launching at a 7 percent guaranteed simple interest
roll-up rate, one of the highest in the industry, and credited on each
Investment Choices: Ability for investors to either allocate
assets into any of Prudential’s asset allocation models or build their
own custom portfolio, choosing from a range of high-quality investment
strategies to help meet their needs and goals.
Wealth Transfer: Beneficiaries will receive the greater of the
roll-up death benefit, up to 200 percent of the original investment,
or the account value.
Tax Deferral: Investments compound on a tax-deferred basis,
providing control over the timing of taxes as well as tax-free
Legacy Control: Investors have the flexibility to control how
and when their legacy is distributed.
Probate Efficiency: Annuities with properly named beneficiaries
pass outside the probate system, avoiding expense and delay.
“Today’s launch not only reinforces our commitment to the industry, but
showcases our growing range of valuable solutions that enable financial
advisors to help Americans meet their financial planning, retirement and
legacy needs,” said Mullery. Learn
more about Legacy Protection Plus.
About Prudential Financial, Inc.
Prudential Financial, Inc. (NYSE:
PRU), a financial services leader, has operations in the United
States, Asia, Europe and Latin America. Prudential’s diverse and
talented employees are committed to helping individual and institutional
customers grow and protect their wealth through a variety of products
and services, including life insurance, annuities, retirement-related
services, mutual funds and investment management. In the U.S.,
Prudential’s iconic Rock symbol has stood for strength, stability,
expertise and innovation for more than a century. For more information,
please visit news.prudential.com.
1The roll-up rate and a roll-up cap are set at the time the
contract is issued and will not change for the life of the contract. The
roll-up rate is no longer applied once the roll-up cap is reached.
Investors should consider the features of the contract and the
underlying portfolios’ investment objectives, policies, management,
risks, charges and expenses carefully before investing. This and other
important information is contained in the prospectus, which can be
obtained from your financial professional. Please read the prospectus
carefully before investing.
Variable annuities are issued by Pruco Life Insurance Company (in New
York, by Pruco Life Insurance Company of New Jersey), Newark, NJ (main
office) and distributed by Prudential Annuities Distributors, Inc.,
Shelton, CT. All are Prudential Financial companies and each is solely
responsible for its own financial condition and contractual obligations.
A variable annuity is a long-term investment designed for retirement
purposes. Investment returns and the principal value of an investment
will fluctuate so that an investor’s units, when redeemed, may be worth
more or less than the original investment. Annuity contracts contain
exclusions, limitations, reductions of benefits, and terms for keeping
them in force. Your licensed financial professional can provide you with
Variable annuities offered by Prudential Financial companies are
available at a total annual insurance cost of 0.55% to 1.95% (depending
on the product chosen) with an additional fee related to the
professionally managed investment options. The benefit fee is in
addition to the fees and charges associated with the basic annuity.
All references to guarantees are backed by the claims-paying ability of
the issuing company and do not apply to the underlying investment
options. Prudential does not provide tax, accounting or legal advice.
Issued on contract/rider P-BLX/IND(2/10), P-CR/IND(2/10),
P-RID-DBROLL(5/17), et al. or state variation thereof.
Prudential Financial, Inc.
Lisa M. Bennett,