Prudential Daily Advantage Income Select (Edward Jones) review

Yes, for the right buyer. This is a good annuity for someone who wants a simple, principal-protected product with a lifetime income guarantee that grows daily, sold exclusively through the Edward Jones channel. It is less appealing for someone whose priority is growing their account value, who wants flexibility to exit early, or who does not need guaranteed lifetime income.

The main reason to buy Daily Advantage Income Select is the daily income growth mechanic. Most GLWB products credit income growth once a year on the contract anniversary. This one credits it every single day, which means you can start income at any point in a contract year — not just on the anniversary — and still capture all the income growth you have earned to that point. For people who want flexibility about when to start income without sacrificing what they have built, that is a real feature.

The secondary reason is simplicity. This is a fixed annuity with a built-in income rider. There are no index allocations to manage, no performance triggers to understand, and no market risk to track. You put in money, the income amount grows daily, and you take income when you are ready.

I think this annuity is best for someone between ages 50 and 80 who is planning to start lifetime income within the next several years, values certainty over growth potential, and already works with an Edward Jones advisor. It is also a reasonable fit for someone who wants to avoid the complexity of a fixed indexed annuity but still wants more income-building power than a plain fixed annuity provides.

It is not a good fit for someone who wants meaningful account-value accumulation, who wants to choose their own investment strategies, or who might need to exit the contract early. The 7-year surrender schedule and MVA make early exits expensive.

You are buying a guaranteed income framework inside a fixed annuity wrapper. The account value earns a fixed rate of 2.50% guaranteed for seven years. But the income side — the Guaranteed Income Amount — grows at a separate and much higher rate: 8.50% annually, credited daily. Those two numbers are not the same thing. The income growth is used to calculate how much lifetime income you can take for life, not to build your account value. This distinction matters. Your account value grows at the crediting rate minus the 0.95% rider fee each year. Your income amount grows at 8.50% daily. The contract is designed to optimize income, not accumulation.

At purchase, your Guaranteed Income Amount is calculated by multiplying your total premium by the Withdrawal Percentage that applies to your age. For example, at age 65 single coverage, the withdrawal percentage is 7.60%, so a $100,000 premium would produce a $7,600 Guaranteed Income Amount on day one.

From that starting point, the Guaranteed Income Amount grows daily by an annualized rate of 8.50% (applied as a simple interest calculation divided by 365 days) until you begin taking Lifetime Withdrawals. That means every day you defer starting income, your annual income entitlement increases. There is no need to wait until a contract anniversary — the growth is captured daily, and income can be started on any day.

The benefit base also steps up annually: if your account value on a contract anniversary exceeds the current benefit base, the benefit base increases to match, which can further increase future income.

The rider charge — 0.95% of the account value — is deducted annually on the contract anniversary. This does not reduce the Guaranteed Income Amount directly, but it does reduce the account value that supports the contract over time.

The most meaningful secondary feature is the annual automatic step-up. If market conditions improve, your fixed crediting rate exceeds your rider fee, and your account value grows above the benefit base, the step-up mechanism can lock in higher income for life. This is a relatively rare structural advantage for a fixed annuity income product.

Spousal continuation is also included. You can elect joint coverage to ensure lifetime income continues for a surviving spouse after the first death. The joint withdrawal percentages are lower than single percentages (7.10% vs. 7.60% at age 65), reflecting the longer expected income duration. The election can be changed between single and joint at any time before income begins.

Daily Advantage Income Select is a 7-year surrender product. Free withdrawal access is 10% of total premiums in the first contract year, then 10% of the prior anniversary account value from year two onward. Amounts above the free withdrawal amount during the surrender period are subject to surrender charges of 7%, 6%, 5%, 4%, 3%, 2%, 1%, and then 0%, plus a Market Value Adjustment that can add to or reduce the amount received depending on interest rate conditions.

Required Minimum Distributions calculated by Prudential are exempt from surrender charges and MVA. Non-Lifetime Withdrawals taken before income begins permanently reduce the Guaranteed Income Amount proportionally. Excess Income withdrawals after income begins also permanently reduce future income on a pro-rata basis.

The rider itself can be terminated at the owner's request after the 5th contract anniversary. Once canceled, it cannot be re-elected, and the final benefit charge is prorated.

The only explicit annual fee is the **0.95% rider charge on account value**. There are no separate product fees, M&E charges, or administration charges beyond that.

The implicit cost is the spread between the fixed crediting rate (2.50%) and the rider fee (0.95%), which leaves a net account-value growth rate of roughly 1.55% annually after the fee. That modest net growth rate means the account value supporting the contract is not especially strong relative to the income-growth component. If you defer income for many years, the account value may not keep pace with the income guarantee — which is by design for an income-first product, but worth understanding before you buy.

The MVA adds interest-rate sensitivity to early exits. If rates have risen since contract issue, the MVA generally reduces the surrender value below what you might expect from the stated surrender charge alone.

| Feature | Details |

| --- | --- |

| Product type | Fixed annuity with built-in GLWB |

| Channel | Edward Jones exclusive |

| Surrender period | 7 years |

| Issue ages | 50–85 |

| Minimum premium | $25,000 |

| Subsequent premiums | First 60 days only |

| Fixed crediting rate | 2.50% guaranteed for 7 years |

| Income Growth Rate | 8.50% annually, credited daily |

| Withdrawal percentage (age 65) | 7.60% single / 7.10% joint |

| Rider fee | 0.95% of account value annually (max 1.50%) |

| Benefit base step-up | Annual automatic step-up if account value exceeds benefit base |

| Surrender charge schedule | 7 / 6 / 5 / 4 / 3 / 2 / 1 / 0 |

| Free withdrawals | Year 1: 10% of premiums; Year 2+: 10% of prior anniversary value |

| MVA | Yes, on excess withdrawals during surrender period |

| RMD treatment | RMDs calculated by Prudential exempt from charges and MVA |

| Death benefit | Greater of account value or Minimum Guaranteed Surrender Value |

| MGSV | 87.5% of premiums less withdrawals, growing at no less than 1% annually |

| Spousal continuation | Yes |

| Rider cancellation | After 5th anniversary; cannot be re-elected |

| States | All states except New York |

Daily Advantage Income Select is issued by Pruco Life Insurance Company, a subsidiary of Prudential Financial. Pruco Life carries an A+ rating from A.M. Best and an AA- from Standard & Poor's. Prudential is one of the most recognized names in U.S. retirement income, with over 145 years in the business and a long history of guaranteed income product innovation. The Edward Jones channel agreement means this specific product version is only available through Edward Jones advisors.