Alliance will aid families in planning for the financial future of
loved ones with special needs
Aug. 16, 2010 (Business Wire) -- The Prudential Insurance Company of America, based in Newark, NJ, will provide members of the National Down Syndrome Society (NDSS) support in the area of financial literacy as a result of an agreement the two organizations announced today.
“We’re excited to work with Prudential to help people with Down Syndrome and their families learn more about planning for their future financial needs,” said Jon Coleman, president of NDSS. “Both organizations have a vested interest in increasing awareness in this area as well as creating additional resources and opportunities for our members.”
Through the agreement, Prudential will host informational webinars and participate in local NDSS chapter activities including Buddy Walks. “Our involvement with NDSS reflects Prudential's commitment to serving the particular financial needs of growing diverse markets,” said Joan Cleveland, senior vice president, Business Development, Individual Life Insurance. "The work NDSS does is invaluable and we’re proud to leverage their extensive experience and join them as an advocate for the special needs community.”
Over the last year, a core team of Prudential and independent financial professionals located across the country have been trained to address the unique financial concerns of families caring for loved ones with special needs through the company’s program, Special Needs Solutions…For All Ages.
Specifically, financial professionals in the program can help families:
- Understand how a special needs trust, a document prepared by an attorney with expertise in special needs law, protects an individual’s eligibility for government assistance such as Supplemental Security Income and/or Medicaid. Assets held by the trust for the benefit of someone with special needs should be used to supplement—not replace—government assistance.
- Select the proper insurance and financial products to help fund the special needs trust.
- Get started with a Letter of Intent, a non-binding document which states a family’s wishes for their loved one's future with regard to health issues, educational goals, housing, etc., and the means to support those wishes.
“We understand that providing financially for a family member with special needs isn't a simple task. That’s one of the reasons we’re focusing our efforts on supporting this community,” added Cleveland.
To date, over 140 Prudential and independent financial professionals have participated in the Special Needs Solutions…For All Ages program. After completing a comprehensive three-day training course, participants stay up-to-date on current issues through ongoing discussions. For additional information about Special Needs Solutions…For All Ages or to locate a financial professional who specializes in servicing the special needs community visit www.prudential.com/specialneeds.
Prudential, its affiliates, and their financial professionals do not provide tax or legal advice.
The National Down Syndrome Society is a nonprofit organization representing the more than 400,000 Americans with Down syndrome. The mission of NDSS is to be the national advocate for the value, acceptance and inclusion of people with Down syndrome. The National Down Syndrome Society envisions a world in which all people with Down syndrome have the opportunity enhance their quality of life, realize their life aspirations, and become valued members of welcoming community. NDSS has over 275 affiliates nationwide. To learn more visit www.ndss.org.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.
Prudential
Janet Gillespie, 973-802-8012
janet.gillespie@prudential.com
or
National
Down Syndrome Society
Sarah Schleider, 212-763-4369
sschleider@ndss.org
