Prudential Financial Inc. recently launched a new indexed variable annuity, FlexGuard® Income, meant to provide customers with investment strategies geared towards growth potential while offering different levels of protection.
“Today’s financial challenges require new and different solutions,” stated Dylan Tyson, president of Prudential Annuities, in a recent Business Wire press release. “Investors have individualized goals and comfort levels for risk. They need customizable investment strategies and income solutions that provide the potential to grow assets and protect financial outcomes.”
FlexGuard Income offers consumers a choice in how they participate in the market through different index options. They will also have the opportunity to make changes both before and after income begins as their wants and needs evolve over time. The annuity is currently only available through Prudential Advisors financial professionals but will be expanded to other third-party broker dealers later this year.
The new product is meant to build upon the highly successful FlexGuard indexed variable annuity previously launched by Prudential. FlexGuard was the fastest-selling product of its kind, topping more than $3.5 billion in sales in its first four quarters. The new FlexGuard Income adds an innovative new buffered income benefit linked to market performance. This means that if an account value ever reaches zero, it is followed by an insured income stage that provides guaranteed income for life.
“No one knows exactly how long they will live,” Tyson said. “FlexGuard Income is designed to help customers and their financial professionals feel more in control and provide protected income, helping to usher more Americans from where they are now to where they want to be.”
For more information about FlexGuard Income, visit the product information site on Prudential’s website. You can also speak with a registered AnnuityFYI agent for all of your annuity needs at 1-866-223-2121 or by emailing email@example.com.
Written by Rachel Summit