CUSIP Number:
74430U256
CUSIP Name:
Prudential Fixed Annuity with Daily Advantage Income MVA
Product Policy Type:
Fixed Annuity
Inception Date:
14 Jun 2025
Close Date:
CUSIP Note:
Scrap Book:
The Prudential Fixed Annuity with Daily Advantage Income MVA (Proprietary Bank) is a Modified Single Premium Fixed Annuity with Built-in Guaranteed Lifetime Withdrawal Benefit and market value adjustment. This contract includes a 20 days freelook period, or 30 days if contract is issued as a replacement. The initial minimum contribution is $25,000 for both qualified and non-qualified money.10% of the total purchase payments are available for withdrawal in year one and 10% of the previous anniversary can be withdrawn without deduction of any MVA or surrender charge. Free withdrawals are not cumulative for each contract year. Surrender charges are 7 years in duration and are waived in the event of death, annuitization, terminal illness or entrance into any qualified nursing home or hospital. Withdrawals and taxable distributions may be subject to ordinary income tax and if made prior to age 59 1/2, may also be subject to a 10% federal income tax penalty. Guarantees based on claims paying ability of insurer. Products / features may not be available in all states. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.
Last Modified:
14 Jun 2025 18:08