In an effort to make retirement investment more attractive and
comprehensible for its customers, Prudential Annuities - the
domestic annuity business of
Prudential Financial Inc.
) has announced the launch of a new website called
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The site will provide investors with the necessary knowhow needed
to effectively plan their retirement investment. Via its
different features such as Virtual binder, Educational 'snacks,'
Retirement planning tools and Retirement expertise, the investors
will get all the necessary related information that will suit
their specific retirement needs.
Prudential is also making use of social networking sites such as
Facebook, LinkedIn, Twitter and Google+ to reach out to socially
This move by the company is a step to tap the huge retirement
market. Prudential estimates that annuities will become more
appealing to baby boomers who are expected to retire in droves in
the coming years. The 65-and-above aged population grew 18%
between 2000 and 2011 to 41.4 million, according to a recent
Administration on Aging report. Moreover, sales of the retirement
products have caught up of late as rising interest rates make the
products more attractive to clients.
Economic challenges over the past few years have prompted many
U.S. life insurers and annuity carriers such as
Sunlife Financial Inc.
) to reassess their strategic priorities. While some have
revamped their product portfolios, others have made changes to
policy features and distribution methods while others have exited
the market entirely.
Prudential's efforts to set up online communities along with an
interactive and easy-to-navigate website is part of its plan to
develop a cost-effective platform to engage tech-savvy Gen-X
users and gain deeper consumer insights.
Prudential carries a Zacks Rank #3 (Hold). A better-ranked stock
Old Republic International Corp.
) with a Zacks Rank #1 (Strong Buy) is worth