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Actions Guaranteed Lifetime Income and Principal Protection SurePath Income Fixed Indexed Annuity
Clients have spent years saving for their retirement. Now they need a strategy that will protect their savings from market loss, and turn it into guaranteed lifetime income. But can they achieve both goals with one product?
SurePath® Income Fixed Indexed Annuity offers clients guaranteed lifetime income, and principal protection from market declines with growth opportunities.
See current SurePath Income rates PDF Opens in a New Window
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Actions See how SurePath Income can help clients get the principal protection and growth opportunity they want, and the guaranteed lifetime income they need.
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Actions SurePath Income offers clients:
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Income Bonus
They receive a percentage of their total premium as an Income Bonus that is added to their Income Benefit Base.*
Footnotes
*The IBB is separate from your Account Value and is not available as a lump sum withdrawal.
Grow Retirement Income Every Day
Their IBB grows tax-deferred. Every day they delay taking lifetime income, the IBB grows at a simple interest rollup rate. The interest is credited daily.
Guaranteed Income
Whether they choose to take income immediately, or delay, the guaranteed income will continue uninterrupted for the rest of their life.
Guaranteed Protection and Growth Opportunities
100% principal protection from market loss and potential to grow their money.
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Calculating Lifetime Income Is Easy
A withdrawal percentage based on age at purchase is used to calculate guaranteed lifetime income:
Income Benefit Base (IBB)
Withdrawal Percentage
Guaranteed Income Amount
(GIA)
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Actions Income Now or More Income Later
The longer you delay, the more income you will receive. In this example, we are assuming a $100,000 total premium plus a 5% Income Bonus, growing at a 6% simple interest Roll-up Rate with a 5% Withdrawal Percentage.
| IBB | GIA |
|---|---|
| Starting amounts: IBB = $105,000 (includes income bonus). | GIA = $5,250. |
| Year 1: IBB = $111,300. | GIA = $5,565. |
| Year 5: IBB = $136,500 | GIA = $6,825. |
| Year 10: IBB = $168,000. | GIA = $8,400 |
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For illustrative purposes only. In this example, we are assuming a $100,000 total premium plus a 5% Income Bonus, growing at a 6% simple interest Roll-up Rate with a 5% Withdrawal Percentage. Your initial Guaranteed Income Amount could be more or less, depending on your total premium, applicable Withdrawal Percentage, or any Non-Lifetime Withdrawals. Please note some of the values have been rounded down for illustrative purposes. Rates are subject to change.
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- SurePath Income offers two different ways for clients to potentially grow their money: an “index-based” strategy and a “fixed rate” strategy. You and the client decide the percentage of their money to allocate to each and the term of each index-based strategy.
- Money in the fixed rate strategy is guaranteed to grow at a predetermined interest rate for a period of one year. Funds allocated to the index-based strategies have the potential to grow based on the performance of their chosen indices, comparing the value on the first day to the value on the last day of their 1- or 3-year term. We call this “point-to-point” crediting.
- At the time clients purchase a contract, they receive a 10-year surrender charge period, which is the amount of time they must wait until they can withdraw funds from the annuity without facing a potential penalty charge.
- Any withdrawal taken during an index term will not be eligible to receive interest at the end of the index term. Withdrawals taken during the surrender charge period may be subject to surrender charges and a Market Value Adjustment.
- Upon renewal or reallocation at the end of a term, clients may continue with the same strategy and allocation, or choose from the other strategies and terms available at that time.
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Actions Example: How Clients’ Money Can Grow
The clients' money is not actually invested in any index, but may earn interest based on the index’s performance:
- The cap rate is the maximum amount of interest that can be credited during a specific index term.
- The participation rate is the percentage of any index increase used to calculate the interest that will be credited for a specific index term.
- A floor offers 100% downside protection in the event of a market loss.**
In this example the cap rate is 4% and the participation rate is 30%. The floor is always zero.
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If we assume a 3% index increase:
- The cap rate would create 3% interest credited.
- The participation rate would create 0.90% interest credited (30% x 3%).
If the index increased by 20%:
- The cap would create 4% interest credited.
- The participation rate would create 6% interest credited (30% x 20%).
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This is a hypothetical example for illustrative purposes only. It does not reflect a specific annuity or an actual account value. Actual cap rates and participation rates may be higher or lower and produce different results.
Footnotes
** The SurePath Income benefit carries a 1.00% fee for both single and spousal versions. This fee is applied on the contract anniversary date, after all interest has been credited. It is calculated by multiplying the 1.00% fee by the Income Benefit Base on the anniversary and then deducted from the Account Value.
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Actions The power of tax deferral with SurePath Income:
- The clients account value can earn interest
- Their interest can earn interest
- They earn interest on the money they would have otherwise paid taxes on
This chart shows how a tax deferred investment of $100,000 can grow over time when compared to taxable investments.
| IBB | GIA |
|---|---|
| Starting amounts: IBB = $105,000 (includes income bonus). | GIA = $5,250. |
| Year 1: IBB = $111,300. | GIA = $5,565. |
| Year 5: IBB = $136,500 | GIA = $6,825. |
| Year 10: IBB = $168,000. | GIA = $8,400 |
Hypothetical chart showing 5% growth of a $100,00 investment over 20 years. Tax-deferred investment grows to $265,330 ($225,651 after 24% tax) and taxable investment at 24% annual tax rate would grow to $210,937. Tax-deferred growth helps accumulate an additional $14,814 after taxes are paid, growing to $225,651
Assumptions: This hypothetical example is for illustrative purposes only. It assumes 5% annual growth for 20 years. The tax-deferred (after tax) account assumes 24% in taxes are withdrawn in a lump sum at the end of 20 years. The taxable account assumes 24% in taxes are withdrawn at the end of every year. Tax-deferred accounts are subject to ordinary income tax at the time of withdrawals. The hypothetical example does not reflect a specific annuity or an actual account value. It does not include any fees or expenses which would lower performance.
Clients purchasing an annuity through a tax-advantaged retirement plan (such as an Individual Retirement Account or 401(k) plan) will get no additional tax advantage through the annuity itself.
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Actions Who can best benefit from SurePath Income?
Clients who are:
- Conservative, risk averse, but looking to turn their savings into guaranteed lifetime income
- Protection-focused, but also looking for ways to grow their money
- Unable to get desired returns from some other fixed investments
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Share with Clients Today
Our client-approved marketing materials make it easy to tell the SurePath story, and educate clients on the strength of Prudential.
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Actions SurePath Income Fixed Indexed Annuity At-a-Glance
| Features | Specifications |
|---|---|
| Minimum Premium Payment | Initial: $25,000 |
| Issue Ages | Minimum: 45 / Maximum: 85 |
| Latest Annuity Date | No later than the first contract anniversary on or after the oldest owner's or annuitant's 95th birthday |
| Living Benefit | The SurePath Income Benefit (single or spousal) is automatically elected with the purchase of the contract for an annual fee of 1.00%. Maximum fee 2.50%. (Rider may be canceled after 5 years). |
| Index-Based Strategy Point-to- Point Crediting | Strategies | Cap Rate | Participation Rate | ||
|---|---|---|---|---|---|
| 1-Year | 3-Year | 1-Year | 3-Year | ||
| 1-Year | 3-Year | 1-Year | 3-Year | ||
| No Data | No Data | 1-Year | 3-Year | ||
The Goldman Sachs Voyager Index includes an annual 0.50% index fee, which accrues daily, meaning that a small portion of the fee is removed from the Index each day. The index fee is included in order to account for index rebalancing, maintenance and hedging and transaction costs.
| No Data | Fixed Rate Account |
|---|---|
| Fixed Rate Strategy | 1-Year |
Footnotes
* The websites referenced above are not endorsed or supported by any of the Prudential Financial companies. Marketing and training materials contained on these websites need to be approved by the Prudential Annuities Marketing Compliance Unit prior to use.
Minimum Renewal, Cap & Participation & Fixed Rates
Index-Based Strategy
| Surrender Period | Minimum Period | Cap Rate | Participation Rate |
|---|---|---|---|
| 10 Years
| During Surrender | 2% | 10% |
| After Surrender | 1% | 5% |
| Fixed Rate | ||
|---|---|---|
| Fixed Rate Strategy | Minimum renewal Fixed Rate during the surrender charge period 1.00%; after surrender charge period 0.05% | |
| Surrender Charge Options1 |
| |
|---|---|---|
| Market Value Adjustment (MVA) |
| |
| Free Withdrawals | 10% of total premium allowed in the first contract year. After the first contract year, clients may withdraw up to 10% of the account value (based on the previous contract anniversary, after all index/interest credits are applied) without surrender charges or MVA | |
Footnotes
1 In California, surrender period/charges vary. Please see the California Important Disclosure Statement or fact card.
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Partner with us, and we’ll invest in you.
Contact your wholesaler today and have our team of experts and resources work for you.
Call us at 844-207-6979. Option 4
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Actions Disclaimer
Annuities are issued by Pruco Life Insurance Company, a Prudential Financial company, located in Newark, NJ (main office).
A fixed indexed annuity (FIA) is a tax-deferred financial tool designed for the long term. It offers a level of protection for your clients' money against loss with the opportunity for it to grow based on the performance of a specific market index, or combination of indices. With a FIA. your clients' money is not actually invested in any index, but rather may earn interest based on the index's performance. Clients have the option to allocate money into a strategy based on a cap rate or a participation rate. The cap rate is the maximum amount of interest that can be credited at the end of a specific index term. The participation rate is the percentage of any index increase used to calculate the interest that will be credited at the end of index term(s). Initial cap rates and participations rates are set at the time you purchase your contract, but may change after the completion of the index term(s). For complete information about the annuity, please refer to the Important Information Disclosure Statement PDF opens in a new window .
Availability subject to state approvals, licensing and firm agreements.
Please note that withdrawals are not eligible for any future index interest crediting.
All references to guarantees, including the benefit payment obligations arising under the annuity contract guarantees, rider guarantees, optional benefits, any fixed account crediting rates, index-based interest crediting or annuity payout rates are backed by the claims-paying ability of the issuing company. Those payments and the responsibility to make them are not the obligations of the third party broker-dealers from which this annuity is purchased or any of its affiliates.
Withdrawals and distributions of taxable amounts are subject to ordinary income tax and, if made prior to age 59½, may be subject to an additional 10% federal income tax penalty, sometimes referred to as an additional income tax. Withdrawals reduce the account value and death benefits. Withdrawals taken during the surrender charge period, excluding any Required Minimum Distributions (RMDs) calculated by Prudential, will be subject to any applicable surrender charges and a Market Value Adjustment (MVA).
It is not possible to invest directly in an index.
The Goldman Sachs Voyager Index was customized for the exclusive use within Prudential's Fixed Indexed Annuities. This proprietary index seeks to achieve growth of capital by investing in a diversified, global mix of assets while providing for a dynamic allocation, enhanced diversification, volatility management and the potential to better navigate a full market cycle.
MSCI EAFE Index (Europe, Australasia, Far East) is a widely accepted benchmark for international stock performance. It is a free float-adjusted market capitalization index that is designed to measure the equity market performance of 21 developed markets, excluding the U.S. and Canada.
S&P 500® Index is a market capitalization-weighted index of the 500 widely held stocks often used as a proxy for the stock market. S&P chooses the member companies for the 500 based on market size, liquidity and industry group representation.
the "S&P 500® Index" is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates ("SPDJI"), and has been licensed for use by Pruco Life Insurance Company. Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC, a division of S&P Global ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). Pruco Life Insurance Company's Product(s) is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500® Index. MSCI EAFE Index: The annuity contract referred to herein is not sponsored, promoted or endorsed by MSCI, and MSCI bears no liability with respect to any such annuity contract or any index referred to by any such annuity contract. The Disclosure Statement contains a more detailed description of the limited relationship MSCI has with Pruco Life Insurance Company and any related annuity contracts.
Goldman Sachs Voyager Index: This fixed indexed annuity is not sponsored, endorsed, sold, guaranteed, underwritten, distributed or promoted by Goldman Sachs & Co. LLC or any of its affiliates, (including Goldman Sachs Asset Management, L.P.), with the exception of any endorsement, sales, distribution or promotion of this product that may occur through its affiliates that are licensed insurance agencies (excluding such affiliates, individually and collectively, "Goldman Sachs"). Goldman Sachs makes no representation or warranty, express or implied, regarding the advisability of investing in annuities generally or in fixed indexed annuities or the investment strategy underlying this fixed indexed annuity particularly, the ability of the Goldman Sachs Voyager Index to perform as intended, the merit (if any) of obtaining exposure to the Goldman Sachs Voyager Index or the suitability of purchasing or holding interests in this fixed indexed annuity. Goldman Sachs does not have any obligation to take the needs of the holders of this fixed indexed annuity into consideration in determining, composing or calculating the Goldman SachsVoyager Index. GOLDMAN SACHS DOES NOT GUARANTEE THE ACCURACY AND/OR COMPLETENESS OF THE GOLDMAN SACHS VOYAGER INDEX OR OF THE METHODOLOGY UNDERLYING THE INDEX, THE CALCULATION OF THE INDEX OR ANY DATA SUPPLIED BY IT FOR USE IN CONNECTION WITH THIS FIXED INDEXED ANNUITY. GOLDMAN SACHS EXPRESSLY DISCLAIMS ALL LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT OR CONSEQUENTIAL DAMAGE EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.
There is no guarantee that the index will not underperform some or all of the underlying assets. In SurePath Income Fixed Indexed Annuity particular, the index may have a significant weight in one of those assets at the time of a sudden drop, or no exposure to one of those underlying assets at a time it has a strong performance, or a significant weight to the cash component. Different indices with a different set of underlying assets may significantly outperform the selected index. The index is not actively managed and Goldman Sachs does not exercise discretion in constructing, calculating or executing the strategy. For further information and disclosure about the strategy, including relevant risk factors, please refer to the related transaction documentation. The index was launched on June 7, 2019.
For Financial Professional Use Only. Not for Use with Consumers.
For Compliance Use Only: 1022917-00006-00
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