To help protect, grow and transfer wealth
May 01, 2017 — 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,” said Jim Mullery, head of Distribution and Sales for Prudential Annuities. “Legacy Protection Plus offers the ability to protect their legacy, benefit from tax deferral, and guarantee their legacy will grow regardless of market performance,”
Mullery went on to say that 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.