Prudential introduces FlexGuard℠—company’s first indexed variable annuity
May 18 2020 - 8:00AM
Business Wire
Prudential Financial, Inc. (NYSE: PRU), launched FlexGuard℠
today, the company’s first indexed variable annuity product,
designed to provide customers with downside protection and the
opportunity to grow and accelerate the performance of their
retirement assets into the future. The commission-based version
launches today, with a fee-based version of FlexGuard to follow
later this year.
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Dylan Tyson, President, Prudential
Annuities (Photo: Business Wire)
“FlexGuard is a first for Prudential and brings new options to
the annuities market as a whole,” said Dylan Tyson, president,
Prudential Annuities. “Our market entry, in the midst of a global
pandemic and continued market volatility, brings a more customized
experience and array of options to individuals who now more than
ever face the challenge of protecting and growing their retirement
savings.”
A key feature of FlexGuard allows customers to select a level of
protection, or “buffer,” against market losses. But the product
also incorporates unique options when it comes to growth potential,
with innovative crediting strategies that enable customers to
accelerate their gains above and beyond the index return when
certain targets are met. Importantly, FlexGuard is designed to
adapt with consumers’ needs, allowing changes to investment length,
protection level and growth strategies, as the markets shift and
individual financial goals evolve.
The launch of FlexGuard builds upon the broader expansion of
Prudential’s annuity lineup, including:
- Prudential’s Fixed Annuity with Daily Advantage Income Benefit,
which also launched today. The Fixed Annuity with Daily Advantage
Income Benefit combines guaranteed lifetime income that is
protected from market risks with a set growth rate that means the
longer an individual waits to take income, the greater their future
retirement income can be.
- Prudential’s fee-based MyRock product for the advisory space,
which added a new Dynamic Income Benefit in April 2020 and an
expanded fund lineup earlier in the year. It provides greater
market upside income potential, investment control and flexibility,
lower cost compared to most other variable annuity income benefits,
and the ability to carry over unused income from one year to the
next.
“Diversifying and enhancing our suite of solutions is
foundational to Prudential Annuities’ market-leading innovation and
our aim to insure the longevity of Americans,” said Tyson. “Our
customers have worked hard to build up their retirement savings.
We’re helping them maximize and manage those assets by equipping
financial professionals with more flexible strategies to help
individuals achieve their financial goals throughout
retirement.”
For more information on FlexGuard, visit:
www.prudential.com/myflexguard.
About Prudential Financial
Prudential Financial, Inc. (NYSE: PRU), a financial wellness
leader and premier active global investment manager, has operations
in the United States, Asia, Europe and Latin America. Prudential’s
diverse and talented employees help to make lives better by
creating financial opportunity for more people. 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.
Annuities are issued by Pruco Life Insurance Company, located in
Newark, NJ (main office), or by Prudential Annuities Life Assurance
Corporation located in Shelton, CT. (main office). Variable
annuities are 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. Prudential Annuities is a business of
Prudential Financial, Inc.
Investors should consider the features of the contract, index
strategies, 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.
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. The information is not intended as investment advice and
is not a recommendation about managing or investing your retirement
savings. If you would like information about your particular
investment needs, please contact a financial professional.
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.
Guarantees are dependent upon the claims-paying ability of the
issuing company.
1036059-00001-00
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Evan Stisser 973-802-8571 evan.stisser@prudential.com
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