Prudential annuities are provided by one of the world's largest and most successful financial organizations which actually encompasses two separate companies: Prudential, PLC and Prudential Financial, Inc. The first is a financial services company operating out of the United Kingdom. The second is a US based company, and probably the one with which most American's are familiar.
Prudential Financial, Inc. is one of America's leading providers of variable annuities. It ranks highly on both the Fortune 500 list and the Forbes 500 list as well. It has a net worth of more than 9 billion dollars at this point in time, and is the sister firm of the US's second largest life insurance provider, Prudential Life Insurance Company.
While Prudential Financial operates out of the United States, it holds a place in the world-wide financial market. With more than 40 thousand employees in 37 counties, it is indeed one of the world's most sturdy financial institutions. It has more than 50 million customers world-wide, making it easy to see why ranks within the top 125 public companies on Fortune Magazine's Global 2000 list.
The company provides an assortment of financial and investment opportunities. Among the most popular are Prudential annuities.
Annuities are a financial account that allows the payee to make periodic payments over a specific period of time, with the intention of drawing benefits from the fund later in life. The most common form of annuities is those from which retirees draw monthly benefits.
The holder of an annuity makes payments into the plan at fixed intervals. In the case of a pension plan annuity, these payments are often scheduled with the individual's regular paycheck. Each pay period, a specific amount of money is withheld from the employee's pay and then deposited into the annuity fund.
After a specified timeframe defined in the plan document, the annuity will reach maturity. Upon reaching that mile marker, the annuity will have hit the guaranteed payout amount. This means that the fund, having been allowed to reach maturity, will now pay a particular amount also set forth in the plan document at the time the fund was established.
Many retirees count on the monthly payments they receive from retirement plans through Prudential annuities. After having contributed monies on a weekly or bi-weekly basis for a number of years, they can be assured that the interest earned on their annuity monies will be enough to sustain their quality of life for many years to come.
Source by Rich Cortez
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