NU Online News Service, May 5, 2003, 11:54 a.m. EDT – Prudential Financial Inc., Newark, N.J., says it is adding a guaranteed minimum income benefit to its Strategic Partners FlexElite Annuity, a variable annuity product released in May 2002.
Prudential is also adding features, such as an Income Appreciator Benefit option, that give holders a chance to increase their income, Prudential says.
Prudential notes that all guarantees are based on the claims-paying ability of the issuing insurance company.
Prudential issues the FlexElite annuity through its Pruco Life Insurance Company subsidiary in most of the United States and through Pruco Life Insurance Company of New Jersey in New York.
Prudential distributes the annuity through financial advisors at Prudential Securities Inc., registered representatives at Pruco Securities Corp. and independent broker-dealers that work with Prudential Investments.