Prudential

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Average Ratings (from 16 ratings)
7 Positive Reviews – 2 Negative Reviews
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Facts, Reviews & Ratings

Visit the Prudential Website to learn more:

  • Emphasis on Variable with some¬†Fixed Annuities
  • Has $693 billion in assets under management
  • 38,000 Employees i n 37 Countries
  • Serving clients since 1875
  • Headquartered in Newwark, New Jersey
  • A+ Rating with AM Best
The Prudential Friendly Society, founded by insurance agent John Fairfield Dryden, was founded in a basement office in downtown Newark, N.J., in 1875. It was the first company in the U.S. to make life insurance available to the working class. The company sold Industrial Insurance, which provided funeral and burial expenses for low-income families, with some weekly premiums as low as three cents.Four years later, Prudential’s sales extended beyond New Jersey, into New York City and Philadelphia, and the company’s customer base expanded to the newly emerging middle class. With growing sales, assets reached $1 million, and in 1885, the one-millionth policy was sold to John Dryden. Renamed “The Prudential Insurance Company of America,” Prudential later adopted The Rock of Gibraltar as its company symbol, reflecting the strength and security it offered to customers.A lot has changed since 1875, but not our commitment to helping people achieve financial security and peace of mind. For over 130 years we have demonstrated that we know what it means to keep the promises and commitments we make.We have built our company on our proud heritage of life insurance and asset management expertise. Today, we offer individuals and institutions in the United States, Asia, Europe, and Latin America a wide array of financial products and services, including life insurance, annuities, mutual funds, investment management, and retirement related services.1

Citations: 1) http://www.prudential.com/view/page/public/11732?src=oc&name=oh

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Comments

  1. Very satisfied. I purchased four separate contracts in Mach 2009 at a guaranteed rate of 7%. Try and beat that today.

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    1 / 1 found this review useful.
  2. MY wife convinced me to purchase Pru variable annuities in march 2009 at a guaranteed rate of 7%. I have never been more satisfied. We purchased four separate contracts for additional withdrawal leverage. One was converted into a Roth. That will earn a guarantee 7% tax free. We will tap into that bucket last. If you want peace of mind ,I definitely recommend putting some of your nest egg into an annuity. Guaranteed rate of return is key as it certainly looks like low interest rates are here for a prolonged period.

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    4 / 5 found this review useful.
  3. Concerned says:

    When asked by my advisor what would bother me most, having my money guaranteed to grow by 5% when the market grows by 12%, or taking the 12% growth knowing it could easily diminish by 12%, I leaned towards the missed opportunity as opposed to the risk. I’m retired, 61.5 years old and am looking at taking about a quarter of my total retirement amount and purchasing the Pru Premier Retirement VA. Right now I have half my retirement nest egg in retirement account with the company I retired from. I’m not drawing on it and it’s earning a little more than 5% annually. I can take the cash balance or a monthly annuity from it. The other half of my retirement nest egg was what I had saved in the 401k which has been moved into an IRA with a balanced portfolio. I plan on drawing SS benefits starting at age 62. Would investing 1/4 of my available monies in this VA be a good fit?

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    3 / 6 found this review useful.
  4. I have had Prudential Life insurance since I was in my twenties so it was easy for me to put my money in their annuities when my advisor suggested it for my retirement. What I did not know was that i could loose a lot of my money and the only way I can get it back is to use an income guarantee. I am not happy with my advisor but I am more upset with myself for not understanding that my money was at serious market risk. I am supposed to also be pleased I guess that if I die I can get my money back! Not the best withdrawal policy….
    Goodbye Mike G (ex-advisor)

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    14 / 14 found this review useful.
  5. When I saw the fees, surrender penalties and the limits on investments that were available I freelooked my Prudential annuity. The advisor was not happy with me but I believe he was seeing nothing but big commissions anyway. Adios Amigos & No way Hosea

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    15 / 17 found this review useful.
  6. Well I guess the best way to say it is hindsight is 20/20. My wife and I reluctantly were convinced that putting my 403B and her 401K into a couple of prudential annuities would be the best way to secure our income for the next 20 or so years of retirement (God Willing). Wow Thank you and kudos to Janet our Advisor. We would have lost a lot of money and had a seriously reduced income if we would not have listened to Janet.
    Well we have lost a lot of money but our income is guaranteed with a rider for the rest of our life. We are concerned about inflation but at least we have a long term income that is secure.

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    8 / 9 found this review useful.
    • dont forget too that at certain ages you get a steped up income. i believe at ages 75 then 85 but you will need to call prudential to do so becuase they will not automaticaly send it to you. they do that so they dont mess up your taxes sunce they are taxed at ordinary income.

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  7. Bill and Trudy says:

    Prudential is truly a great and safe company in our opinion but looking back our choice should have been a fixed annuity we had compared several competitors to the variable from Prudential now our principal is down and our balance is eroding away with a stagnant market and high fees. We are stuck because of the surrender charges and loss of principal. the only saving grace is our income rider which we will have to turn on in a year or two to supplement our income and make the best of this annuity.

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    11 / 11 found this review useful.
    • Justice good says:

      My company sold out, in late 2007. I had to decide whether to roll over my existing 401k, into the new company, or into a personal IRA. At that time, prudential had this wonderul highest daily life time seven, they were advertising on bill boards all over town. It was mostly allowed, for people 50 or over, as a security, and catch up investment. So, with close to 60k in 401k money, I decided to invest 50k into this prudential product……. Going into this annuity investment, I had stated to the two prudential advisors, working with me, I did not want a variable rate annuity. They both agreed, and went on explaining how this annuity would provide a 7% life time income stream, of 100k in 10 years, at age 65……At the contract signing, just before I started to sign the contract, I stopped, and asked both agents; ” This is a fixed rate annuity, isnt it”? Their reponse; WHy no! we couldnt offer these wonderful benefits/returns on a fixed rate annuity……Well, just to be fair, during the course of contract talk, I possibly missed the word varible rate, or similar term, I did not understand……..I went ahead and signed that contract in jan. 08. THe 50k went into the account as dollar cost averaging, for 6 months. THen comes Sept of 08, and the market burst…..Maybe its just my dumb luck, as timing seems to be the biggest factor, in investments, and market swings……..Hopefully, at some point, I will be singing phraises to the Rock, and the two agent advisors……..At this time Feb. 2014, prud.statements say the annuity account value is just 3k more than the original 53k investment? Im blaming the low account value, on the high cost of fees…..Although with the special feature/, Gain Capture, {prud agent told me}, I will be able to draw income stream @ 5% of 100k, /guaranteed,at age 66. That would be great, and i could go with that, and hope it comes true… ..The 7% will come in my late 70`s,/ now they say:{ Oh, :They say i can take the 7% at 66, for 14 years, but then the account would probably become insolvent. “What”!…That just might not be so bad, if 80 is the end for me too.LOL..Now im wondering about what happens with the life insurance part of the annuity. Maybe I shouldnt cash out my 2 other small life ins. policies? Well, I could still buy a Roth, and put catch up money in, and be locked up for some more years…….Its all shouldof, wouldof, couldof,. Thinking positive, maybe it will all work out in the mix…..Im sure I will get some income from the annuity, but how much, is guess work………When purchasing this annuity, in late 07, the prud agent said he would call me, at the end of every year, and go over my investment performance. So far, Ive had to call him, and talked to him once. When I did track him down, he offered me this advice; Prudential, was not allowing any contributions to these annuity accounts. He also offered, he and the other agent had the same investment options, and they both felt they would work out over time, that they were higher yielding…….Lastly he said Prudential possibly is over extended, after just taking over G.M. executive retirement accounts, and creating annuities with them…..So, I do know he is being honest, and really has his hands tied. Good thing is, prudential is being honest, and does not want yearly contributions they cant cover…………Other good news for me is, my 10k in 401k money I rolled over in 07-08 has grown almost 3 times its initial investment. Another IRA I own has also done well ………..I want to state/make a disclaimer here: I am not, and have not been a studied student in investment strategy. My opinions/ideas may not be right, and should not be taken fully into account.The annuity product I own may well be a great blessing. Everyone has a different investment situation, and options to make…………… Bottom line, timing is very critical in investing. It is possible my annuity investment was at a negative time, just before the markets collasped. Also, always read the fine print, until you have a full understanding, of the investment. Try to ask as many qualified investment people, to get good answers, before you invest….. Read the fine print, it is legal, and binding…….Thanks, Justice good

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  8. TheRock says:

    Love it I sleep well and do not worry since I know I have a secure income no matter what the market does. Yea I am down like everyone else but I believe the market will be back and so will my principal in the longrun I believe my Prudential annuities will grow and if they do not so what they give me the income that I need.

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    4 / 4 found this review useful.
  9. SallySanFran says:

    I have a piece of the Rock so stay strong Prudential I am extremely happy with my annuity not the market. That is why I bought my annuity for a worst case scenario and it has paid off. I just keep an eye on Prudential since they are the ones backing up the guarantees and so far so good.

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    6 / 7 found this review useful.
  10. FredAlmost says:

    I compared a lot of annuities fixed and variable Prudential seemed to be the best variable with its daily high water mark potential but I finally settled on an Allianz fixed annuity that can help better with inflation since it seems to have a greater potential to increase income after the lifetime income stream is turned on than the Prudential variable. I just about went with Prudential I like the company.

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    8 / 9 found this review useful.
  11. DodgersRock says:

    Annuities are not the way to go they have high fees and pay high commisssions avoid them all even Prudentials. The stockmarket always comes back and wins in the long run.

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    5 / 15 found this review useful.
    • DodgersRock says:
      April 9, 2010 at 11:35 AM

      Annuities are not the way to go they have high fees and pay high commisssions avoid them all even Prudentials. The stockmarket always comes back and wins in the long run.

      And…what about the “short run”, as in when you retire and are withdrawing money in a down market. Not a good outcome, and no way to “win”.

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      9 / 9 found this review useful.
      • Mike Dutko says:

        Wife purchased a variable annuity February 2008. Has lost over $28,000 of the original investment. Horrendous fees. Have a new financial planner who resuses to sell variables. ( I’ll give you a hint it’s called integrity ) Oh by the way did you know that Prudential applied for and was approved for a government bailout during the financial crisis? Fortunately we don’t have to worry about that because we have the “ROCK’ managing our money.

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        2 / 2 found this review useful.
  12. Brian Stannard says:

    sounds like you or your advisor picked some bad investments. I own the same thing and it has outperformed my Vanguard. I’m sure you’re like all investors and lose sight on what the annuity is designed to accomplish, lifetime income. I’m sure when the market turns sour you’ll be saying I wish I had more in the Prudential annuity.

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    3 / 4 found this review useful.

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