Advantages for Prudential annuity plans include increased income for retirement, guaranteed and predictable income and efficient money growth, according to Prudential. The company offers several types of annuities with varying advantages for retirement investors with different goals, time horizons and risk tolerances.
Prudential offers variable annuities, or long-term investments toward retirement. The Highest Daily Income variable annuity is designed to grow and protect income for retirement, as Prudential indicates. It is available to investors as young as age 50. It locks new account highs daily, and it grows retirement income at an annual compounded rate for the first 10 years of the agreement or until clients take their first guaranteed income withdrawals.
Prudential's Defined Income variable annuity guarantees income with no stock market exposure. This protects income from market fluctuations, states Prudential. This annuity also tells clients the exact amount of current and future income. Prudential recommends this plan for clients who prefer predictability in their finances.
The Premier Investment variable annuity helps clients to balance and grow investments by deferring taxes until clients withdraw money from the annuity. Prudential recommends this plan for clients who wish to create a diverse, extensive portfolio. For a fee, clients can also provide their loved ones with a return of purchase payments death benefit, indicates Prudential.