Products June 5, 2007

Prudential Adds Variable Investment Options to COLI Product

Prudential Financial, Inc. has come out with a group of variable universal life insurance contracts for informally funding nonqualified benefit plans, including Supplemental Employee Retirement Plans (SERPS) and Deferred Compensation Arrangements.
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According to a press release from the company, the PruBenefit Select product is the next in line for Prudential’s corporate owned life insurance (COLI) product.
PruBenefit Select offers life insurance protection with a variety of choices:
  • Return of Charges feature;
  • Over 70 variable investment options from asset managers;
  • Optional Target Term Insurance; and
  • Pre-scheduled and post-issue coverage amount flexibility.
“PruBenefit Select offers almost twice as many variable investment options than COLI products we have previously offered and allows all contributions to be allocated to the general account option,” said Andy Sforzini, vice president of PruBenefit Funding at Prudential, in the press release.
Sforzini continued that the product’s eight-year Return of Charges feature is meant to help minimize any volatility on a corporation’s earnings.
For more information, please visit www.prudential.com.
Products June 5, 2007

InterOcean Sets Course with Fiduciary Compass

The Retirement Services division of InterOcean Wealth Management has formally introduced a new fiduciary protection service for retirement plan sponsors called The Fiduciary Compass.
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The Fiduciary Compass is a process designed to help retirement plan sponsors navigate their fiduciary responsibilities. According to a press release from the Chicago-based firm, it covers six key areas of the retirement plan experience including:
  • Co-Fiduciary Responsibility
  • Vendor Search
  • Plan Design and Implementation
  • Investment Selection and Oversight
  • Employee Education and Communication
  • Recordkeeping and Administration
InterOcean Wealth Management LLC is a subsidiary of InterOcean Financial Group LLC, a financial services boutique positioned to serve business owners and high net worth investors through capabilities in Wealth Management, Investment Banking, and Private Equity.
For more information, contact Chris Lakumb at 866.428.2276, or at clakumb@iowealth.com.

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