NU Online News Service, March 15, 2005, 2:37 p.m. EST
Prudential Financial Inc., Newark, N.J., has introduced 2 options aimed at variable annuity buyers who want to put some limits on their exposure to investment risk.[@@]
One product, the Lifetime 5 living benefit option, guarantees 5% annual compounded investment growth for up to 10 years and a 5% annual withdrawal stream for life.
Purchasers of the option also can choose a 7% withdrawal stream that will be guaranteed for at least 14.2 years, Prudential says.