Prudential Premier Retirement Variable Annuities L Series offered by Prudential

Introduction
Type of Product Variable Annuity
Product NamePrudential Premier Retirement Variable Annuities L 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 Contract85
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 Expenses2.32 [Find annuities with lower fees and expenses]
Maximum Total Fees and Expenses3.36 [Find annuities with lower fees and expenses]
Minimum Mortality and Expense Risk Charge "M&E Fee"1.55 [Find annuities with lower mortality and expense fees]
Maximum Mortality and Expense Risk Charge "M&E Fee"1.55 [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 Request Access
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 Commissions5.5 [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

3/5 from 1 Reviews


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Product Ratings and Reviews

Rating:
3
Average: 3 (1 vote)

The L series variable annuity from Prudential is supposed to provide some flexibility for people who are unsure about their time horizon and goals.

The withdrawal charges are designed to provide some flexibility for people who think things might be changing in the near term.

It is a short surrender schedule that starts at starts at 7 percent during the first couple years, lowers to 6 percent year 3, and then 5 percent year 4.  No surrender charges after that and no up-front sales charges.

Trade-off is insurance charges that are higher than the other 3 variable annuities in the "Premier Retirement" series from Pru.

Not sure why someone would make the trade of higher fees over the life of the contract for a lower surrender charge schedule.

Like the other VAs in this series, the money is sort of there if you really need it.  Withdraw up to 10 percent per year, and full access for terminal illness or disability / nursing home.

Just seems that the likelihood of needing the liquidity in 4 years does not offset the higher long-term charges.

People may think that benefit levels will become more attractive once interest rates increase, but who knows if and when this would happen.

Just hard to make the case for the L series when compared to the other 3 from Prudential unless someone knows they might need to make changes in the very near-term.  If the person knows this, then maybe a variable annuity is not the best decision.

 

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