SurePath 7
Serving as another subsidiary of the global Prudential Financial, Inc., Pruco Life Insurance Company is a top-tier provider of insurance, retirement planning, and investment management products and services. The company was founded in 1971 to operate as a key constituent of Prudential’s life insurance and annuity business. With a mission to provide its clients with the growth and protection they require in retirement, the company has consistently maintained high credit scores throughout its years in the industry.
SurePath 7
Ratings:
- A.M. Best A+
- Fitch AA-
- S&P AA-
- Moody's Aa3
- Comdex 94
About Product
The Prudential SurePath annuity is a single premium deferred fixed indexed annuity.
Allocation Accounts
Name | Type | Rates |
---|---|---|
1-Year Fixed Account |
Fixed
|
3.75%
Fixed
|
3-Year MSCI EAFE PTP Cap |
Point to Point
Triennial
|
30%
Cap
|
3-Year S&P 500 PTP Cap |
Point to Point
Triennial
|
30%
Cap
|
3-Year S&P 500 PTP Participation Rate |
Point to Point
Triennial
|
45%
Participation
|
3-Year MSCI EAFE PTP Participation Rate |
Point to Point
Triennial
|
45%
Participation
|
3-Year Goldman Sachs Voyager PTP Participation Rate |
Point to Point
Triennial
|
245%
Participation
|
1-Year Goldman Sachs Voyager PTP Participation Rate |
Point to Point
Annual
|
185%
Participation
|
1-Year MSCI EAFE PTP Cap |
Point to Point
Annual
|
8.5%
Cap
|
1-Year MSCI EAFE PTP Participation Rate |
Point to Point
Annual
|
35%
Participation
|
1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.5%
Cap
|
1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
35%
Participation
|
Surrender schedule
Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
---|---|---|---|---|---|---|---|
Penalty | 9% | 9% | 8% | 7% | 6% | 5% | 4% |
Riders
No Riders for SurePath 7 annuity.
Waivers
Death
The MVA and Surrender Charge do not apply to the Death Benefit.
Terminal Illness
Unavailable in states: CA
The MVA and Surrender Charge do not apply to a Withdrawal or Surrender taken as a Medically Related Surrender where the Owner (or Annuitant if your Prudential SurePath annuity is owned by an entity) is diagnosed with a terminal illness or confined to a Medical Care Facility for 90 consecutive days (subject to regulatory approval).
Premium Notes
Note: TSP funds have to be rolled into an IRA.
Withdrawal Provisions
After the first contract year, clients may withdraw up to 10% of the account value (based on the previous contract anniversary, after all index/interest credits are applied) without surrender charges or MVA