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Prudential Retirement Accounts to be Upgraded and Managed by Empower Retirement. As previously reported on our website in March 2022, Empower Retirement acquired Prudential Retirement in early 2022. In February 2024, Empower will be completely upgrading and integrating Prudential accounts into the Empower system.
You can access your cash value in three ways: (1) borrowing against the policy (youll have to repay with interest), (2) withdrawing some of your money, or (3) canceling the policy to receive the surrender value. Depending on how long youve owned an annuity, getting your cash value may carry different charges.
Some, but certainly not all, annuity contracts allow you to withdraw a portion of your funds each year without being subject to surrender charges. Youre often granted up to 10% of your total annuity contract value. This is called the free withdrawal provision.
If you have questions please contact Prudential for assistance by calling 800-621-1089 weekdays, from 8 a.m. to 6 p.m. ET.
During your first contract year, you can take a withdrawal of up to 10% of your total purchase payment(s) without surrender charges or Market Value Adjustment (MVA). After your first contract anniversary, you can withdraw up to 10% of your Account Value on the previous contract anniversary each contract year.
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An annuitys surrender value is the total of payments youve made plus any investment gains or interest, minus prior withdrawals or outstanding loans.
Most annuities offer a standard death benefit to help provide a legacy for your loved ones: After you die, your beneficiaries will receive either what youd paid into the annuity (minus any withdrawals) or the annuitys current account value, whichever is greater.
To request a loan or withdrawal from your Prudential policy, or to perform a cash surrender of your policy, contact your Prudential professional, or call our Customer Service Center at 1-800-778-2255, Mon. -Fri., 8 a.m.-8 p.m. ET. Please have your policy numbers available when you call.

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