Pru To Launch Mutual Funds With Death Benefit Feature.

National Underwriter Life & Health-Financial Services Edition, August, 1998 by Murray, M. Christian

Prudential Insurance Company of America will soon be introducing a new feature to its mutual fund product line: a death benefit.

Prudential expects to release the new program, to be called "PruTector," in early September. The death benefit feature will assure investors that if they die, their heirs will receive a guaranteed minimum amount.

The option will be available on Prudential's entire mutual fund product line, with the exception of offshore funds and direct money market accounts, said the company. The feature will be available in 38 states at the time of the program's launching.

Prudential will guarantee investors that their heirs will receive a value equivalent to a growth rate of at least 5 percent per year (on the initial amount deposited in...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.