Prudential To Exit Variable Annuities With GLWB Business
November 17, 2020 by Contributor
Prudential Financial is discontinuing all sales of variable annuities with guaranteed living benefits, chairman and CEO Charlie Lowrey said today.
That means eliminating the Highest Daily Income and Prudential Defined Income annuity products. The move is needed as the insurer recalibrates amid economic uncertainty and ultra-low interest rates, Lowrey said.