Prudential Financial Inc., Newark, N.J. (NYSE: PRU), has expanded investment management alternatives for its guaranteed lifetime income solution, Prudential IncomeFlex Target.
Incorporating the investment management expertise of two target date fund managers, the solution lets defined contribution plans combine Prudential IncomeFlex Target's guaranteed minimum withdrawal benefits with target date fund offerings from T. Rowe Price and Vanguard.
Ten years before the target date of the selected fund, the company says, the GMWB is automatically activated, guaranteeing a lifetime income amount for plan participants. Upon activation, an additional one percent guarantee fee will be charged.
National Financial Partners Corp., New York, (NYSE: NFP) has launched a solution and web site to aid plan sponsors in the development of non-qualified plan benefits for key executives.
NFP Executive Benefits, a part of NFP's Corporate Client Group, provides nonqualified plan consulting and administration, institutional funding solutions for corporations and banks, and executive life and disability for executives and board of directors.
Contemporaneous with the launch, NFP Executive Benefits introduced a new website, www.nfpeb.com, which provides enhanced analytical and administrative tools and resources for plan sponsors and participants.
Futurity First Insurance Group, Topeka, Kansas, has launched se2, a software solution to aid agents in administration of new business applications and tracking of commissions.
Among the software's feature:
Display of real-time new business status and commission information in a single portal
The elimination of manual document storage to permit easy information access and retrieval.
An electronic data base management system focused on agent license status tracking with new carriers and case management
An expedited appointment process for writing new business with carriers.
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