This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Prudential Annuities Launches Highest Daily Lifetime Income V3.0

Prudential Annuities, the domestic annuity business of Prudential Financial, Inc. (NYSE:PRU), today announced the launch of a new version of its innovative Highest Daily variable annuity optional living benefits, which allow investors to ‘lock in’ the highest daily value of their annuity contract, for income purposes, each day the market is open.

Responding to unprecedented market demand for products that guarantee retirement income, Highest Daily Lifetime Income v3.0 and Spousal Highest Daily Lifetime Income v3.0 offer:

Dynamic Rate Setting: the flexibility to change the roll-up rate and/or the withdrawal percentages for new contracts in response to market conditions. The introductory rates include a 5 percent roll-up rate, and withdrawal percentages that range from 3-6 percent, including a 5 percent guaranteed lifetime annual withdrawal starting at age 65. Spousal versions are .50 percent lower for all age bands.

Secure Value Account: designed to help minimize volatility, the secure value account is a fixed-rate account that provides growth and stability to the annuity’s account value regardless of market conditions. Ten percent of each purchase payment will be allocated to the secure value account.

Investment Platform Updates: the addition of two new asset allocation portfolios: the AST T. Rowe Price Growth Opportunities Portfolio, an 85/15 (equity/bond) model; and the AST FI Pyramis ® Quantitative Portfolio, a 65/35 (equity/bond) model. This brings the total number of asset allocation portfolios to 22.

“Today’s launch reinforces our commitment to providing Americans with income certainty in retirement,” said Bruce Ferris, president, Prudential Annuity Distributors. “Our innovative Highest Daily benefits continue to provide investors with a strong minimum lifetime income guarantee, daily lock-ins of account value highs for income purposes, and the potential to benefit from rising equity markets, as well as help secure protection in unfavorable ones.”

Highest Daily Lifetime Income v3.0 replaces Highest Daily Lifetime Income v2.1 and Spousal Highest Daily Lifetime Income v2.1 benefits, subject to state approval. Launched in 2006 and available for an additional fee with a variable annuity from Prudential issuing companies, Prudential Annuities’ Highest Daily suite of living benefits offer daily lock-ins for retirement income purposes—and immediately grow them until the first lifetime withdrawal or 10 years from election. Key features include:

  • Daily step-ups: 100% certainty in capturing account value gains for income purposes, until first lifetime withdrawal.
  • Daily benefit base growth: Benefit base grows every day regardless of market conditions due to immediate credit of the growth rate, until the 10 th benefit anniversary or the first lifetime withdrawal, whichever is sooner.
  • Innovative investment platform: Offering 22 actively managed asset allocation portfolios that help to drive daily step-ups.
  • Proprietary Risk Management: A proprietary mathematical formula that monitors an investor’s account daily and automatically transfers amounts between the chosen variable investment portfolios and the AST Investment Grade Bond Portfolio.
  • Highest Daily Death Benefit: Offers legacy protection through an optional integrated death benefit that locks in account highs daily, for an additional fee.

“Our growing range of income solutions enables financial professionals to help Americans meet the challenges of retirement income planning, while ensuring we provide a compelling value proposition both for clients and Prudential,” said Ferris.

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 http://www.news.prudential.com/

All references to income certainty and guarantees, including optional benefits, are backed by the claims-paying ability of the issuing company and do not apply to the underlying investment options.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,919.59 +80.85 0.48%
S&P 500 1,981.60 +9.86 0.50%
NASDAQ 4,527.5140 +19.2020 0.43%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs