What is the payout option for Prudential annuities?

Prudential offers a variety of payout options for its annuities, allowing individuals to choose a distribution method that best suits their financial needs and goals. One of the most common options is the lifetime income option, which guarantees payments for the lifetime of the annuitant. This can provide a steady stream of income, which many find beneficial for retirement planning. Another popular choice is the period certain option, where payments are guaranteed for a specified period, such as ten or twenty years. If the annuitant passes away during this period, payments may continue to a designated beneficiary. There are also joint and survivor options available, which allow payments to continue as long as one of the individuals covered by the annuity is alive. Additionally, Prudential includes the option for lump-sum withdrawals, where individuals can access their funds in a single payment. The specific payout options can vary depending on the type of annuity purchased, as well as any additional riders that may have been included. When selecting a payout option, it is important for individuals to consider their financial situation, needs, and goals. For the most accurate and detailed information on specific payout options, it is recommended to visit the Prudential website or their current customer service page, which provides up-to-date information.