NEWARK, N.J.--(BUSINESS WIRE)--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 contract anniversary.1
- 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 portfolio rebalancing.
- 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 complete details.
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.