PRUDENTIAL FINANCIAL, INC. New offering provides potential to grow funds received through a physical injury settlement while protecting against market declines.
NEWARK, N.J., Oct. 10, 2023 - Prudential Financial, Inc., (NYSE: PRU) has launched the Prudential Income Advantage Indexed Structured SettlementSM (Income Advantage), a new offering that provides the potential to grow funds received through a physical injury settlement while also offering protection from market declines. Along with many of the benefits that a traditional structured settlement delivers, Income Advantage provides an opportunity for market-linked gains during a deferral period, with growth linked to the S&P 500®, all while guaranteeing a minimum payment amount. The new structured settlement annuity is offered by the company's subsidiary, The Prudential Insurance Company of America. A structured settlement allows an individual to receive all or a portion of their physical injury settlement in the form of future periodic payments instead of as a single lump sum. These payments are based on the terms established in a legally binding agreement between the parties involved in an underlying litigation and generally not subject to income taxation. Structured settlements are typically considered by individuals who are awarded money in physical injury and workers' compensation cases. "Structured settlement clients have different needs, challenges and expectations," said Michelle Caine, head of Structured Settlements at Prudential. "We believe that an offering like Income Advantage will increase the number of settlement recipients who consider a structured solution." Alex Hyten, Prudential's head of Institutional Retirement Strategies, noted that the innovative design of Income Advantage offers additional flexibility, growth potential and downside risk protection beyond that of a standard fixed annuity structured settlement payout. "Combined with Prudential's nearly 150 years of proven experience and flawless execution, Income Advantage gives individuals and their families an additional path to help improve financial security and peace of mind," Hyten added. Additional details on Income Advantage are available online here and by contacting a structured settlement consultant. |
ABOUT PRUDENTIAL
Prudential Financial, Inc., a global financial services leader and premier active global investment manager with approximately $1.4 trillion in assets under management as of June 30, 2023, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees help make lives better by creating financial opportunities for more people by expanding access to investing, insurance, and retirement security. Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for nearly 150 years. For more information, please visit news.prudential.com. The Retirement Strategies team at Prudential delivers industry-leading solutions for growth and protection to more than 2 million individual and institutional customers.1 The business makes more than $12 billion of protected income payments to customers each year,1 with a focus on expanding access to retirement security through its lines of Individual Retirement Strategies including the FlexGuard, PruSecure, WealthGuard and Fixed With Daily Advantage Income product suites, and Institutional Retirement Strategies including U.S. Pension Risk Transfer, International Reinsurance, Stable Value, and Structured Settlements. 1 Retirement Strategies, By the Numbers, August 2023.
© 2023 Prudential Financial, Inc. and its related entities. Prudential, Prudential Retirement Strategies, the Prudential logo, and the Rock symbol are service marks of PFI and its related entities, registered in many jurisdictions worldwide. This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. If you would like information about your particular investment needs, please contact a financial professional. The "S&P 500® Index" is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates ("SPDJI"), and has been licensed for use by The Prudential Insurance Company of America. Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC, a division of S&P Global ("S&P"). The Prudential Insurance Company of America's products are not sponsored, endorsed, sold or promoted by SPDJI, S&P, or their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such products, nor do they have any liability for any errors, omissions or interruptions of the S&P 500® Index. It is not possible to invest directly in an index. Annuity contracts contain exclusions, limitations, reductions of benefits, and terms for keeping them in force. Your licensed financial professional can provide you with complete details.
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Kristen Doyle
+1 201-835-4872
kristen.doyle@prudential.com
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Prudential Financial Inc. published this content on 11 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 October 2023 13:18:20 UTC.
