The Prudential Fixed Annuity is a modified single premium deferred fixed annuity which includes a guaranteed lifetime withdrawal benefit (Daily Advantage Income). The Prudential Fixed Annuity is a financial planning tool designed for someone who wants an opportunity for earning tax-deferred interest and a regular stream of income once you elect to begin your Lifetime Withdrawals. Your Purchase Payment(s) will be allocated to the 7 Year Guaranteed Interest Crediting Period. The interest credited for the initial Crediting Period is based on the Initial Interest Crediting Rate effective on the Issue Date of the Annuity for the Crediting Period. The Interest Crediting Rate is an effective annual yield of interest which is compounded and credited daily.
10% of total Purchase Payment(s) allowed in the first contract year
After the first contract year, the client may withdraw up to 10% of the Account Value on the previous contract anniversary
Equal to the greater of the Account Value, or the Minimum Guaranteed Surrender Value or Stored Income (if applicable).
If the contract is co-owned with a spouse, the Death Benefit is payable upon the death of the first owner.
Note: TSP funds have to be rolled into an IRA.
Prudential Insurance Company of America (pending approval)