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FlexGuard Income

FlexGuard Income offers a reliable path to a secure and comfortable retirement. Your hard-earned money grows at a steady rate, ensuring the golden years you have always pictured.

This annuity boasts impressive flexibility and protection against market downturns. Nothing beats knowing your financial future is safely tucked away with FlexGuard Income.

FlexGuard Income

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About Product

Type

Registered Index-Linked

Purpose

Lifetime Income

Term

6 Years

Surrender schedule

Fee withdrawal:

10%

Market Value Adjustment

Return Of Premium

Minimum Contribution

$25,000

Maximum Contribution

$1,000,000

Max Age Qualified

Types Of Funds

Non-Qualified, Profit Sharing, IRA, Pension, IRA Rollover, 401a, TSA 403b, SEP IRA, KEOGH, IRA-Roth, 457 plan, Inherited IRA, NQ Stretch, and TSP

Launch Date

06/15/2021

The Prudential FlexGuard Income index-linked and variable annuity Contract issued by PALAC is a contract between you, the Owner, and Prudential Annuities Life Assurance Corporation, an insurance company. It is designed for retirement purposes, or other long-term investing, to help you save money for retirement, on a tax deferred basis, and provide income during your retirement.

The Index Linked Variable Income Benefit (the “Benefit”) attached to this Annuity has three distinct stages, the Savings Stage, Income Stage, and Insured Income Stage. During the Savings Stage, the Annuity provides a Variable Subaccount and Index Strategies as opportunities for growth or loss, with levels of downside protection available when allocating to the Index Strategies. During the Income Stage it provides lifetime income with potential for increases in income and some downside protection.

Variable Subaccount
Variable Subaccount PSF PGIM Government Money Market Portfolio “Class III“ available after the contract issue date and prior to the election to start income.

A Mortality & Expense & Administrative (M&E&A) of 1.30%, as well as a fund management charge, applies to account value allocated to the Variable Subaccount. Refer to the prospectus for details.

Available in states: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, PA, PR, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY

Allocation Accounts

Name	Type	Rates
6-Year S&P 500 Dual Directional Cap 15% Buffer	Dual Directional 6-Year	80% Cap
6-Year S&P 500 Dual Directional Cap 20% Buffer	Dual Directional 6-Year	75% Cap
1-Year S&P 500 Dual Directional Cap 15% Buffer	Dual Directional Annual	8.75% Cap
1-Year S&P 500 Dual Directional Cap 10% Buffer	Dual Directional Annual	11.5% Cap
6-Year S&P 500 Dual Directional Cap 10% Buffer Uncapped	Dual Directional 6-Year
6-Year AB 500 Plus Tiered Participation Rate (20% tier) with 5% Buffer	Tiered Participation Rate 6-Year	100% Participation
6-Year AB 500 Plus Tiered Participation Rate (20% tier) with 10% Buffer	Tiered Participation Rate 6-Year	100% Participation
6-Year Dimensional International Equity Focus Tiered Participation Rate (20% tier) with 10% Buffer	Tiered Participation Rate 6-Year	100% Participation
6-Year Dimensional International Equity Focus Tiered Participation Rate (20% tier) with 5% Buffer	Tiered Participation Rate 6-Year	100% Participation
6-Year S&P 500 Tiered Participation Rate (20% tier) with 5% Buffer	Tiered Participation Rate 6-Year	100% Participation
6-Year iShares Russell 2000 ETF Tiered Participation Rate (20% tier) with 5% Buffer	Tiered Participation Rate 6-Year	100% Participation
6-Year MSCI EAFE Tiered Participation Rate (20% tier) with 5% Buffer	Tiered Participation Rate 6-Year	100% Participation
6-Year S&P 500 Tiered Participation Rate (20% tier) with 10% Buffer	Tiered Participation Rate 6-Year	100% Participation
6-Year MSCI EAFE Tiered Participation Rate (20% tier) with 10% Buffer	Tiered Participation Rate 6-Year	100% Participation
3-Year AB 500 Plus PTP Cap 10% Buffer	Point to Point Triennial	105% Cap
6-Year AB 500 Plus PTP Cap 20% Buffer Uncapped	Point to Point 6-Year
6-Year Dimensional International Equity Focus PTP Cap 20% Buffer Uncapped	Point to Point 6-Year
3-Year AB 500 Plus PTP Cap 20% Buffer	Point to Point Triennial	65% Cap
6-Year Dimensional International Equity Focus PTP Cap 30% Buffer	Point to Point 6-Year	70% Cap
1-Year S&P 500 PTP Cap 30% Buffer	Point to Point Annual	8.25% Cap
1-Year MSCI EAFE PTP Cap 30% Buffer	Point to Point Annual	8.5% Cap
1-Year Invesco QQQ PTP Cap 30% Buffer	Point to Point Annual	8.5% Cap
1-Year iShares Russell 2000 ETF PTP Cap 30% Buffer	Point to Point Annual	8.5% Cap
6-Year S&P 500 PTP Cap 30% Buffer	Point to Point 6-Year	70% Cap
6-Year MSCI EAFE PTP Cap 30% Buffer	Point to Point 6-Year	75% Cap
6-Year iShares Russell 2000 ETF PTP Cap 30% Buffer	Point to Point 6-Year	70% Cap
6-Year AB 500 Plus PTP Cap 30% Buffer	Point to Point 6-Year	75% Cap
1-Year S&P 500 PTP Cap 10% Buffer	Point to Point Annual	14.25% Cap
3-Year iShares Russell 2000 ETF PTP Cap 10% Buffer	Point to Point Triennial	110% Cap
1-Year iShares Russell 2000 ETF PTP Cap 10% Buffer	Point to Point Annual	14.25% Cap
1-Year Invesco QQQ PTP Cap 10% Buffer	Point to Point Annual	14.25% Cap
1-Year MSCI EAFE PTP Cap 10% Buffer	Point to Point Annual	15.25% Cap
1-Year S&P 500 PTP Cap 15% Buffer	Point to Point Annual	12.75% Cap
1-Year iShares Russell 2000 ETF PTP Cap 15% Buffer	Point to Point Annual	13.75% Cap
1-Year Invesco QQQ PTP Cap 15% Buffer	Point to Point Annual	13.75% Cap
1-Year MSCI EAFE PTP Cap 15% Buffer	Point to Point Annual	11.75% Cap
1-Year S&P 500 PTP Cap 100% Buffer	Point to Point Annual	8% Cap
3-Year S&P 500 PTP Cap 10% Buffer	Point to Point Triennial	110% Cap
3-Year MSCI EAFE PTP Cap 10% Buffer	Point to Point Triennial	105% Cap
3-Year S&P 500 PTP Cap 20% Buffer	Point to Point Triennial	60% Cap
3-Year iShares Russell 2000 ETF PTP Cap 20% Buffer	Point to Point Triennial	65% Cap
3-Year MSCI EAFE PTP Cap 20% Buffer	Point to Point Triennial	55% Cap
6-Year S&P 500 PTP Cap 20% Buffer Uncapped	Point to Point 6-Year
6-Year iShares Russell 2000 ETF PTP Cap 20% Buffer	Point to Point 6-Year	150% Cap
6-Year MSCI EAFE PTP Cap 20% Buffer Uncapped	Point to Point 6-Year
1-Year S&P 500 Step Rate with Participation Rate 10% Buffer	Performance Triggered Annual	65% Participation 9.5% Performance triggered
1-Year S&P 500 Step Rate with Participation Rate 5% Buffer	Performance Triggered Annual	65% Participation 9.75% Performance triggered
1-Year MSCI EAFE Step Rate with Participation Rate 5% Buffer	Performance Triggered Annual	65% Participation 9.75% Performance triggered
1-Year S&P 500 PTP Enhanced Cap with Spread A 10% Buffer	Point to Point Annual	21% Cap 1.25% Spread
1-Year MSCI EAFE PTP Enhanced Cap with Spread B 15% Buffer	Point to Point Annual	25.5% Cap 2% Spread
1-Year MSCI EAFE PTP Enhanced Cap with Spread A 15% Buffer	Point to Point Annual	20.5% Cap 1.25% Spread
1-Year MSCI EAFE PTP Enhanced Cap with Spread B 10% Buffer	Point to Point Annual	39% Cap 2% Spread
1-Year MSCI EAFE PTP Enhanced Cap with Spread A 10% Buffer	Point to Point Annual	34% Cap 1.25% Spread
1-Year S&P 500 PTP Enhanced Cap with Spread B 15% Buffer	Point to Point Annual	18.5% Cap 2% Spread
1-Year S&P 500 PTP Enhanced Cap with Spread A 15% Buffer	Point to Point Annual	15.5% Cap 1.25% Spread
1-Year S&P 500 PTP Enhanced Cap with Spread B 10% Buffer	Point to Point Annual	26% Cap 2% Spread

Surrender schedule

Year	1	2	3	4	5	6
Penalty	8%	8%	7%	6%	5%	4%

Riders

Name	Inbuilt	Fee
Index Linked Variable Income Benefit Supplement	Yes	1.45% annually

Waivers

Hospital

Unavailable in states: CA, and MA

You may request to surrender all or part of your Annuity prior to the Annuity date without CDSC upon the occurence of a medically-related "Contingency Event." A "Contingency Event" occurs if the Owner (or Annuitant if entity-owned) is: first confined in a "Medical Care Facility" after the Issue Date and while the Annuity is in force and remains confined for at least 90 consecutive days. We define a medical facility as a facility recognized as a hospital or a long-term care facility or that is a nursing home facility with a 24-hour RN or LPN who controls all prescribed medications and daily medical records.

Nursing Home

Unavailable in states: CA, and MA

Terminal Illness

Unavailable in states: CA, and MA

You may request to surrender all or part of your Annuity prior to the Annuity date without CDSC upon the occurence of a medically-related "Contingency Event." A "Contingency Event" occurs if the Owner (or Annuitant if entity-owned) is: first diagnosed as having a "Fatal Illness" after the Issue Date and while the Annuity is in force. We define terminal illness as a condition which death results in 2 years for 80% of diagnosed cases.

Premium Notes

Note: TSP funds have to be rolled into an IRA.

Withdrawal Provisions

Accessing your money You might need access to your money sooner than you expected. You have the flexibility to take withdrawals before you start taking income. Depending on the amount you withdraw, you may or may not be subject to an early withdrawal fee, also referred to as a Contingent Deferred Sales Charge or CDSC. If you have money in an index crediting strategy and take a withdrawal (partial, systematic, or full surrender) prior to the end of the index term, transfer out of an index crediting strategy to another investment option, or annuitize — or in cases when Prudential deducts the benefit charge or must pay a death claim between Index Anniversaries — an Interim Value calculation is used to determine the fair market value of each index crediting strategy at the time of the transaction. The Interim Value does not reflect the actual performance of the applicable index. Refer to the product prospectus for more details about interim value calculations. Withdrawals during the Savings Stage Free Withdrawals — You can withdraw up to 10% of the purchase payment in the first year and 10% of the account value on the previous anniversary after the first year. Withdrawals greater than the Free Withdrawal are subject to Contingent Deferred Sales Charge. Withdrawals will be deducted first from the variable subaccount (if applicable) on a pro rata basis. Only when the variable subaccount has been depleted will any remaining withdrawal amount be deducted from the Index Strategies, also on a pro rata basis. You can also request self-directed withdrawals from the variable subaccount and index crediting strategies of your choosing. Since withdrawals from the index crediting strategies midterm reduce the Index Strategy Base, if you are planning on withdrawing funds you should consider allocating sufficient funds to the variable subaccount to accommodate withdrawals without impacting the index crediting strategies. Withdrawals during the Income Stage All or any portion of a withdrawal that causes cumulative withdrawals to exceed the Annual Income Amount in an annuity year, including any applicable Contingent Deferred Sales Charge, is considered Excess Income. Excess Income during the Income Stage proportionately reduces the Annual Income Amount that will be used in the recalculation of the Annual Income Amount on the next Index Anniversary Date. If an Excess Income withdrawal reduces the contract value to zero, the contract will terminate.

Company Founded: 1971

TOP Rated Company

Pruco Life Insurance Company

Company Ratings

4.7