Prudential Updates 'Highest Daily' Annuity Optional Benefits

Prudential Annuities said it adjusted its annuity optional benefits, which allow investors to “lock in” the highest daily value of their annuity contract each day the market is open.

Highest Daily Lifetime 6 Plus and Spousal Highest Daily Lifetime 6 Plus offer a protected withdrawal value based on 6% annual compounded growth on the highest daily account value and daily opportunities to capture greater lifetime income with a 4 to 6% income stream, depending on and investor’s age at first lifetime withdrawal, according to Prudential Annuities, the annuity business of Prudential Financial, Inc.

The optional benefits can be purchased for an additional fee with a variable annuity from Prudential issuing companies.

The Highest Daily Lifetime 6 Plus optional benefits replace the Highest Daily Lifetime 7 Plus benefits in all states where Highest Daily Lifetime 6 Plus has been approved, the company said.