Companies

Get Free Quotes

/ /

Prudential Financial Life Insurance

Prudential Financial, Inc. has been in the financial industry for nearly 140 years. Also known as The Prudential Insurance Company of America, it is one of the most recognized insurance and financial institutions in the country as proven by its inclusion in the Fortune 500 list of America's largest corporations. Last year, it ranked first in Fortune Magazine's 2012 World's Most Admired Companies, for the Insurance, Life and Health Category. It has likewise earned numerous National awards and recognition for its commitment to diversity, and has been consistently rating 100% in its equal opportunity policy. Its dedication to its people is recognized overseas as well, with the company receiving international awards as one of the best companies to work for and for employing commendable people management strategies. Not only this, it has also received an award for "Outstanding Public Welfare Service" in 2007 for its Taiwan branch. Clearly, these accolades speak of the quality of the company and the top-notch service you can expect from Prudential Financial, Inc.

As an insurance and investment company, Prudential Financial offers a diverse portfolio of protective and savings plans. Under Insurance, they have Life and Annuities. A life insurance protects the insured's family or beneficiaries from gross financial loss that may arise from the insured's accidental death. A life insurance can thus offer some comfort by taking care of the practical aspects of a loved one's passing.

Prudential Financial, Inc. basically offers two kinds of coverage: temporary or permanent life insurance. A Temporary life plan means the policy is in effect only for a specified number of years. The duration of coverage is decided upon by the client based on his needs assessment and financial capacity. There is no cash back in this option so one has to carefully think this through. Although a Term Life Insurance benefit is something you may not wish to ever claim, you have to consider the amount that you are willing to spend on it so that your loved ones stay secure as you are still creating your nest egg. At the same time you have to weigh your financial capacity to pay for it knowing there is no guarantee your money will be used on you.

Permanent Life Insurance, on the other hand, provides coverage for the rest of your life. It only requires that the premium is paid, which makes it reasonably more expensive than the fixed-term insurance. But not only does a permanent life insurance guarantee lifetime coverage - it offers cash back options as well. The beauty of this is that your payments grow interest which can be applied to pay for your plan, thereby reducing the years you would have to make cash outs on your policy. In addition, should your investment grow substantially, the profits go back to you as dividends, which, depending on your policy type, you may withdraw without forfeiting your death benefits.

Annuities are a different kind of insurance, and this time it is you, the plan holder, who directly enjoys the benefits. An annuity is a retirement plan that, upon its maturity, pays the client a monthly stipend. The amount paid to the plan holder is dependent on the policy one has signed up and saved for. Different annuities can give different returns, and each has its benefits and risks. The client has the option to select which type fits his needs and lifestyle.

Prudential Financial, Inc offers four main types of annuity: Fixed Annuity, Variable Annuity, Modified Guaranteed Annuity, and Immediate Income Annuity. The Fixed Annuity guarantees a consistent return whether the market is good or not. Because payment to the client is assured, the rate of interest is more conservative compared to a Variable Annuity. Alternatively, the Variable Annuity rides the market's ups and downs. But with a profitable investment, it can give back significantly higher interest rates. This makes it an appealing investment option for those who want to earn more. The Modified Guaranteed Annuity, on the other hand, has interest rates pegged at a certain amount and assures regular payments to the client as well. The difference with the Fixed Annuity is that the Modified Annuity takes into account market value adjustments. These adjustments are not as variable as the Variable Annuity, but are long-term fixed rates. Lastly, the Immediate Income Annuity allows the client to receive payments without having to wait for retirement. After a one-time fee is made, the plan holder can start receiving payments in next to no time. This time period for cashing on returns is decided on by the client. Generally the rule is the longer the deposit stays with the investor, the higher will the interest be.

Most of these annuities offer tax-deferments so you can accumulate your wealth with fewer deductions. Some also have death benefits offered in the plan, which is an additional buffer should anything happen to you. This safeguards your investment, giving you more assurance that your labor will not be for nought.

Aside from these individual savings streams, Prudential Financial, Inc. serves businesses and corporations as well. The company offers Mutual Funds, Brokerage Accounts, and Retirement Solutions, just to name a few. Through the years, Prudential Financial has partnered with different groups to give people wider access to their product offerings.

In this time of economic uncertainty, it best to choose smartly which investment vehicles to ride. With a financial institution that is in a strong position to deliver, you are making the right choice with Prudential Financial, Inc.