Portfolio

Prudential Introduces FlexGuard℠ – Company’s First Indexed Variable Annuity

Multiple index strategies available providing downside protection with growth potential, including industry-first tiered participation rate that accelerates asset growth

Prudential Financial, Inc launches FlexGuarddesigned to provide customers with downside protection and the opportunity to grow and accelerate the performance of their retirement assets

NEWARK, N.J., May 18, 2020 – 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.

“FlexGuard is a first for Prudential and brings new options to the annuities market as a whole,” explains 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 income 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,” says 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 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.