Newest Variable Annuity: Prudential Premier Retirement

UPDATE regarding Prudential’s Highest Daily Lifetime Benefit rider:

According to a company press release, Prudential Annuities has a new variable annuity product to offer investors.  The Prudential Premier Retirement variable annuity is being offered through Edward Jones, the financial services firm.  This product combines some of the best features from traditional A and B share variable annuities.  For instance, the higher your investment amount is, the lower your fees and charges will be.  Also, your initial payment will be immediately invested and you have the option to purchase Prudential’s Highest Daily Lifetime Benefit rider.  More than 92% of variable annuity investors with Prudential are opting for their living benefits to secure a retirement income guarantee.

Prudential’s senior vice president of Sales and Distribution said that this new variable annuity is not only meant to give clients greater flexibility and more choices, it is also meant to offer solutions to their annuity distributors’ various needs.  The annuity will be distributed through Edward Jones’ more than 12,000 financial advisors.  The companies have been working together to distribute annuities and life insurance since last September.  Prudential has doubled their sales in the past two years by including more distributors in their wholesaling force.  Their annuity sales go through four channels now including agencies, independent broker-dealers, wirehouse or regional firms, and financial institutions.

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