Prudential Annuities
Prudential Financial has been a leading provider of fixed, fixed indexed and variable annuities for nearly 50 years. The company’s wide variety of annuities helps consumers choose the right product for their personal financial goals.
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Jennifer Schell
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Jennifer Schell joined Annuity.org in 2022. She is a professional writer with more than three years of experience creating content for a variety of industries ranging from travel to tax accounting. She combines her strong writing skills and her passion for educating others to write engaging and informative financial content for Annuity.org.
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About Prudential Financial
Prudential Financial was established in 1873 by John F. Dryden. The company grew rapidly under the leadership of Dryden and, later, his son, Forrest Dryden. By 1922, less than fifty years after the company’s founding, Prudential’s total assets had risen to $830 million.
The company began selling group variable annuity policies in 1964. Prudential expanded its offerings in subsequent decades to include different types of annuities for individuals and groups, and from 1995 to 1997 had the sixth-highest annuity sales in the country.
As of March 2022, Prudential manages over $1.5 trillion in assets across its various insurance and annuity products. The company’s website describes its purpose as “To make lives better by solving the financial challenges of our changing world.”
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Credit Ratings
Annuity providers like Prudential Financial receive scores from independent agencies based on the provider’s overall financial stability. These scores are called credit ratings or financial strength ratings and help consumers make informed choices when purchasing an annuity. The higher the company’s ratings are, the more likely it is that it’ll be able to meet its insurance obligations.
The Prudential Insurance Company of America holds strong credit ratings from all four of the major credit rating agencies: AM Best, Standard & Poor’s, Moody’s and Fitch Ratings.
Credit Agency | Rating |
---|---|
AM Best | A+ |
Fitch | AA- |
Moody’s | Aa3 |
Standard & Poor’s | AA- |
Annuities Offered by Prudential
Prudential sells a range of annuity products designed to meet the retirement income needs of Americans. Most of the annuities Prudential offers are fixed indexed and variable annuities.
Prudential also provides a fixed annuity option. The Prudential Fixed Annuity with Daily Advantage Income Benefit® product offers guaranteed daily growth of the annuity’s value during its accumulation period. This product also comes with a built-in guaranteed lifetime withdrawal benefit, meaning that annuity holders can start receiving income whenever they choose and will continue receiving payments for life.
Fixed Indexed Annuities
Prudential offers three types of fixed indexed annuity products. These annuities accumulate interest based on two factors: a fixed interest rate that remains constant throughout the annuity’s contract and an interest rate tied to the performance of an equity market index. This way, annuity owners can benefit from strong market growth while still being protected from market losses.
Two of Prudential’s fixed indexed annuities, the SurePath® and SurePath® Income products, are only available for purchase through an independent marketing organization. SurePath® annuities feature benefits like tax-deferred growth and guaranteed principal protection.
The third Prudential fixed indexed annuity is PruSecure®. This annuity product can be more highly customized, with the annuity owner choosing what percentage of their annuity’s value is allocated to the index-based interest rate and what percentage is allocated to the fixed rate. Policyholders can also choose which of four equity markets the annuity is tied to.
Variable Annuities
The variable annuities Prudential offers can be divided into two categories: variable and indexed variable annuities. Prudential’s FlexGuard® and FlexGuard® Income products are indexed variable annuities. The main feature of these annuities is the ability to customize the terms of your contract based on three index crediting strategies. The FlexGuard® Income product also allows the annuity to take part in market growth after the annuitant begins receiving income payments, with the guarantee of a fully protected, fixed payment for life.
In addition to these indexed variable annuities, customers can opt for the Prudential Premier® Investment variable annuity. This product helps investors grow their assets more efficiently by allowing them to diversify the annuity contract across a wide range of investment options.
Client Resources
Annuity customers can access information and get questions answered through Prudential’s online virtual chat assistant. Prudential customers may update their contact information or beneficiary details on the company’s website.
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15 Cited Research Articles
Annuity.org writers adhere to strict sourcing guidelines and use only credible sources of information, including authoritative financial publications, academic organizations, peer-reviewed journals, highly regarded nonprofit organizations, government reports, court records and interviews with qualified experts. You can read more about our commitment to accuracy, fairness and transparency in our editorial guidelines.
- Pederson, Jay P. International Directory of Company Histories, Vol. 30. London: St. James Press, 2000.
- Prudential Financial. (2022, June 23). Prudential Financial 2021 ESG Report Details Long-Term Commitment To Realize Future Vision. Retrieved from https://www.investor.prudential.com/news/press-release-details/2022/Prudential-Financial-2021-ESG-Report-details-long-term-commitment-to-realize-future-vision/default.aspx
- Prudential Financial. (2022, August). Prudential Financial Fact Sheet. Retrieved from https://news.prudential.com/presskits/prudential-financial-fact-sheet.htm
- Prudential Financial. (2022, August 2). Ratings. Retrieved from https://www.investor.prudential.com/ratings/default.aspx
- Prudential Financial. (n.d.) About Prudential Financial. Retrieved from https://www.prudential.com/about
- Prudential Financial. (n.d.) Contact Us. Retrieved from https://www.prudential.com/contact-us
- Prudential Financial. (n.d.) Financial Education. Retrieved from https://www.prudential.com/financial-education
- Prudential Financial. (n.d.) Fixed Annuity With Daily Advantage Income Benefit. Retrieved from https://www.prudential.com/personal/annuities/products/fixed-annuity-with-daily-advantage-income-benefit
- Prudential Financial. (n.d.) FlexGuard Income Indexed Variable Annuity. Retrieved from https://www.prudential.com/personal/annuities/products/flexguard-income-indexed-variable-annuity
- Prudential Financial. (n.d.) FlexGuard Indexed Variable Annuity. Retrieved from https://www.prudential.com/personal/annuities/products/flexguard-indexed-variable-annuity
- Prudential Financial. (n.d.) Help Center. Retrieved from https://www.prudential.com/help-center
- Prudential Financial. (n.d.) Premier Investment. Retrieved from https://www.prudential.com/personal/annuities/products/premier-investment
- Prudential Financial. (n.d.) PruSecure Fixed Indexed Annuity. Retrieved from https://www.prudential.com/personal/annuities/products/prusecure-fixed-indexed-annuity
- Prudential Financial. (n.d.) SurePath Income Fixed Indexed Annuity. Retrieved from https://www.prudential.com/personal/annuities/products/surepath-income-fixed-indexed-annuity
- Prudential Financial. (n.d.) SurePath Fixed Indexed Annuity. Retrieved from https://www.prudential.com/personal/annuities/products/surepath-fixed-indexed-annuity
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