Flexible Lifetime Annuity

Prudential's Flexible Lifetime Annuity is a unit linked annuity offering an income for life but it also lets your client choose how much income to take and how their pension fund is invested.

Benefits to the client:

• Control over income and investments until they reach 90;
• Choice of four different Investment Strategies that are designed to suit different needs and with options to alter investment choices at any time;
• Provide income for dependents or beneficiaries using a joint-life annuity and/or ring fencing some of the investment fund in the event of early death;
• Income limits are reviewed and re-set every three years to reflect the current value of the fund and ensure that the income is sustainable for life. The customer can choose the level of income they wish to take between minimum and maximum limits which are set at outset and reset at the income reviews;
• Ad hoc income payments can be taken at any time as long as the maximum income for that year is not exceeded.

Benefits to the adviser:

• There may be a need for ongoing advice therefore we provide a constant revenue stream for your business through trail commission. As the minimum investment is £75,000* the value of commission is comparatively high;
• Allows an ongoing relationship with your client unlike conventional annuities where this can often end when the annuity commences.

Risks:

• The value of the fund may be eroded, especially if investment returns are poor and a high level of income is taken. This could result in a lower income in the future.
• When maximum withdrawals are taken, high levels of income may not be sustainable.

For further information about the Flexible Lifetime Annuity please contact us on 0845 60 60 630 Monday to Friday from 9.00am to 5.00pm.

Calls may be monitored or recorded for quality and security purposes.

* Other minimum investments may apply depending on your client's circumstances.

More detailed product information on our Flexible Lifetime Annuity can be found in our product literature.