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NEWARK, N.J.--(BUSINESS WIRE)--Prudential Annuities, the domestic annuity business of Prudential Financial, Inc. (NYSE:PRU), today adjusted its popular annuity optional benefits, which allow investors to ‘lock in’ the highest daily value of their annuity contract, for income purposes, each day the market is open.
Highest Daily Lifetimesm 6 Plus and Spousal Highest Daily Lifetimesm 6 Plus can be purchased for an additional fee with a variable annuity from Prudential issuing companies. They offer a Protected Withdrawal Value based on 6% annual compounded growth on the highest daily account value and daily opportunities to capture greater lifetime income with a 4-6% income stream, depending on age at first Lifetime Withdrawal, guaranteed for life.
The Highest Daily Lifetime 6 Plus optional benefits replace the Highest Daily Lifetime 7 Plus benefits in all states where Highest Daily Lifetime 6 Plus has been approved.
“The peace of mind that guaranteed retirement income can provide in today’s uncertain economic climate is immeasurable,” said Stephen Pelletier, president of Prudential Annuities. “Today’s announcement reflects our commitment to offering these valuable guarantees, while...