Prudential Premier Retirement Variable Annuities X Series offered by Prudential

Introduction
Type of Product Variable Annuity
Product NamePrudential Premier Retirement Variable Annuities X Series
Offered byPrudential
Company Info

Prudential Financial is a l... read more

Contract and Purchasing
Minimum Premium Payment10000
Maximum Premium Payment1000000
Minimum Additional Premium Payment100
Maximum Age at Start of Contract80
Investments
Ability to Select Asset AllocationYes
Total Number of Investment Options61 [Find annuities with more investment options]
Fixed Account
Features and Benefits
Free WithdrawalsYes
Free Withdrawal Limit10
Waiver of Withdrawal ChargesAvailable
Guaranteed Death BenefitAvailable
Are Telephone Transactions AllowedYes
Fees and Expenses
Minimum Total Fees and Expenses2.47 [Find annuities with lower fees and expenses]
Maximum Total Fees and Expenses3.51 [Find annuities with lower fees and expenses]
Minimum Mortality and Expense Risk Charge "M&E Fee"1.7 [Find annuities with lower mortality and expense fees]
Maximum Mortality and Expense Risk Charge "M&E Fee"1.7 [Find annuities with lower mortality and expense fees]
Administrative Fee50.00 [Find annuities with lower administrative fees]
Contract Maintenance Fee0.15 [Find annuities with lower contract maintenance fees]
Early Withdrawal Charges / Surrender Fees
Minimum Investment Management Fee0.62 [Find annuities with lower investment management fees]
Maximum Investment Management Fee1.66 [Find annuities with lower investment management fees]
Sales Compensation
Maximum Commissions6 [Find annuities with lower commissions] [Find annuities with higher commissions]
Contact Information
Company OfferingPrudential
Company TypeInsurance Company
Phone Number888-778-2888
Websitewww.prudential.com
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Reviews and Ratings
Average Review

5/5 from 2 Reviews


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Product Ratings and Reviews

Rating:
5
Average: 5 (1 vote)

There are actually some pretty compelling liquidity features that come with this variable annuity, especially given the fact that this is supposed to be the VA in this series from Pru that is more geared towards those with longer time horizons.

First, owners can withdraw 10 percent per year without any fees applied from the withdrawal charge schedule.

These discretionary withdrawals would be subject to the 10 percent federal income tax penalty if they are made prior to the person being 59.5 years old.

Second, full or partial withdrawal of funds is allowed if the VA owner is terminally ill or confined to a nursing home for more than 90 days.

1,167 reads
Rating:
5
Average: 5 (1 vote)

There are 4 variable annuities that are part of the Premier Retirement VA series from Prudential.

The 4 VAs are labeled B series, C series, L series and X series.

The thing that makes this variable annuity--the X series--different from the other 3 is the purchase credits.

Credits are applied to any payments made during the first 4 years that the person owns the annuity.  Right now, the purchase credit level is 6 percent for annuity owners who are younger than 82, and 3 percent for people age 82-85.

The premium purchase credits allow annuity owners to build their contract value faster than they would be able to otherwise.

The flipside of the purchase credits is an expense structure and surrender charge schedule that is a bit higher thant the other VAs in this series.

 

1,255 reads

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