Prudential Life Insurance is a powerhouse in the industry, but is it the right fit for you? We give you everything you need to make a great decision.
Prudential Life Insurance is one of the most established names in the industry. This review will teach you about their life insurance products, underwriting strengths, and who they serve best.
Is Prudential a Good Company?
Prudential Life Insurance Company (also known as PRUCO or “Pru”) is one of the most recognized names in the industry. With over $4 trillion of life insurance in force and more than 50 million customers worldwide, Prudential’s reach and financial strength are hard to ignore.
They offer a wide range of insurance products, including:
- Term life insurance
- Universal life insurance
- Survivorship life insurance
They also provide solutions for retirement planning, workplace benefits, and investment services.
Financial Strength Ratings
Prudential holds strong ratings from top agencies as of August 2024:
- AM Best: “A+”
- Fitch: “AA-“
- Moody’s: “Aa3”
- S&P: “AA-“
These ratings reflect Prudential’s ability to meet its financial obligations—an essential factor when choosing a life insurance company.
Prudential’s Application & Underwriting Process
Prudential has fully embraced technology to simplify the application process:
Digital Experience:
- Online application submission
- eInterviews instead of phone interviews
- Digital policy delivery
- Client portal for ongoing access
Once you apply, Prudential emails you a link to their online interview. It takes 20-30 minutes, letting you complete it at your convenience.
Other companies that have incorporated electronic interviews include Banner Life, Corebridge Financial, and Protective Life, to name a few.
Accelerated underwriting (no exam) for eligible applicants:
- Ages 18-60
- Coverage: $100,000 – $5,000,000
- Complete eInterview
- Get approved in days if eligible
If not approved through this process, your application will continue in the traditional underwriting channel requiring a paramed exam.
Who Should Consider Prudential?
Prudential is one of the best companies for several niche areas of underwriting, including:
High-Risk Applicants
Prudential is often a top choice for individuals with:
- Heart Disease
- HIV
- Diabetes
- Cancer
- Sleep Apnea
- Elevatged Liver Enzymes
- GI Disorders
Tobacco Users
They are one of the few companies that may still offer non-tobacco rates to:
- Cigar Smokers
- Tobacco Chewers
- Applicants with Nicotine in their labs
In addition to Prudential, Cincinnati Life, John Hancock, and Lincoln Financial will give non-tobacco rates to cigar smokers and chewers with positive urine samples.
Risky Jobs or Hobbies
Prudential is also competitive if you:
- Work in a high-risk occupation
- Are a pilot, scuba diver, or mountaineer
- Are a foreign national seeking U.S. based life insurance.
Prudential Term Life Insurance
Term Essential is Prudential’s flagship term life insurance policy:
- Face amount – $250,000 – $65 million
- Level term periods and issue ages
- 10-year – 18-75
- 15-year – 18-70
- 20-year – 18-65 (60 for smokers)
- 30-year – 18-55 (45 for smokers)
- Convertible to age 65 or end of level term (whichever is earlier)
- Partial conversions available
- Most permanent life policies available for conversion
- Riders available (subject to rules)
- Accidental Death Benefit
- Children’s Protection Rider
- Living Needs Benefit
- Waiver of Premium
- Renewable to age 95
- After the level term, premiums increase annually.
EssentialTerm Value and EssentialTerm Plus (New in 2024)
These products were introduced in 2024, and frankly it’s pretty stupid that Prudential did this. They should have just kept the Term Essential product.
- Coverage amounts: $100,000 to $249,999
- Level term periods and issue ages:
- 10-year – 18-75 for Value, 18-62 for Plus
- 15-year – 18-70 for Value, 18-62 for Plus
- 20-year – 18-65 (60 for smokers) for Value, 18-62 for Plus (60 for smokers)
- 30-year – 18-55 (45 for smokers) for Value and Plus
- Riders available (subject to rules)
- Terminal Illness
- Accidental Death
- Children’s Protection
- Other Goods and Services
- Waiver of Premium
- Renewable to age 95
- After the level term, the death benefit decreases and premiums may increase annually.
The Plus product offers a better conversion privilege than the Value product. Other companies with digital-only term products include Lincoln Financial.
Prudential Universal Life Insurance
Several universal life insurance products are available from Prudential.
Essential UL Highlights
- No lapse guarantees
- Cash value potential
- Designed for ages 50-90
- Good for:
- Transferring wealth
- Protecting income
- Repositioning assets
- Addressing potential future chronic/terminal illnesses
Founders Plus UL (Indexed Universal Life):
- Minimum Face: $100,000
- No lapse guarantees
- Index based cash value accumulation
- Ideal for ages 45-75
- Great for:
- Transferring wealth
- Protecting income
- Addressing potential future chronic/terminal illnesses
- Riders available: (subject to rules)
- Accidental Death Benefit
- BenefitAccess Rider
- Children Level Term
- Enhanced Cash Value
- Living Needs Benefit
- Overloan Protection
- Waiver of Monthly Deduction
Index Advantage UL
This index universal life insurance policy offers you the potential to build cash value over time through both fixed and indexed interest options. Ideal for:
- Individuals between the age of 60-70
- Looking to accumulate cash value
- Supplementing retirement income
- Addressing potential future long term care needs
- Completing estate planning
- Overfunding or short-duration funding
- Riders available: (subject to rules)
- Accidental Death Benefit
- BenefitAccess Rider
- Children Level Term
- Enhanced Cash Value
- Enhanced Disability Benefit
- Living Needs Benefit
- Overloan Protection
Index Advantage UL Highlights:
- Issue ages – 0-85 (75 for Return of Premium option)
- Minimum face amount – $100,000 ($250,000 for age 81-85)
- Fixed and participating loans available
- Riders available: (subject to rules)
- Accidental Death Benefit
- BenefitAccess Rider
- Children Level Term
- Enhanced Cash Value
- Enhanced Disability Benefit
- Living Needs Benefit
- Overloan Protection
Momentum IUL
Prudential’s Momentum indexed universal life policy is an accumulation type of policy, focused on cash value growth. Ideal for:
- Issue ages – 0-85 (75 for Death Benefit Type C)
- Minimum face amount – $100,000
- Fixed and participating loans available
- Riders available: (subject to rules and availability)
- Accidental Death Benefit
- BenefitAccess Rider
- Children Level Term
- Enhanced Cash Value
- Enhanced Disability Benefit
- Living Needs Benefit
- Other Goods and Services Rider
- Overloan Protection
- Premium Deposit Account
Policy loans are then used to withdraw cash on a tax-deferred basis, supplement your retirement, etc.
When comparing index policies, we’ll provide comparisons to other companies like Transamerica, North American, and Mutual of Omaha.
Quick Note: We are not tax advisors and do not give tax advice…talk to your accountant for tax matters.
Survivorship Policies by Prudential
If you have a need for estate planning, Prudential offers its PruLife SUL Protector and Survivorship Index UL.
- Covers two lives, pays on the second death.
- Ideal for estate planning and trusts.
- Minimum Face Amount: $200,000
Survivorship policies with Prudential are competitive and do well against other companies like:
We’ll provide you with the best survivorship life insurance options available.
Life Insurance Riders from Prudential
Availability depends on your state, product, and underwriting outcome. Highlights include:
- Accidental Death Benefit: Extra payout for accidental death
- BenefitAccess Rider: Accelerated death benefit for chronic illness
- Children’s Protection Rider: Covers children from 14 days to 18 years
- Living Needs Benefit: Accelerates benefits for terminal illness or nursing home confinement
- Overloan Protection: Prevents policy lapse from loans in UL/IUL policies
Please note that rider availability depends on the product type you choose, the state of policy ownership, and other factors.
Customer Service & Claims
Prudential is highly regarded for its customer service.
- Phone: 800-778-2255
- Address: 213 Washington Street – Newark, NJ 07102
- Online – here
Filing a claim takes about 15 minutes, and their support team is available to guide you through it. If we’re your agent, we’ll help every step of the way.
FAQ
Yes. Prudential has excellent financial ratings and is especially strong in underwriting high-risk clients.
Yes, via their accelerated underwriting program for eligible applicants between the ages of 18 and 60.
Yes. Prudential is competitive for applicants with diabetes, HIV, heart disease, and more.
Final Words
Prudential offers strong life insurance options for both healthy individuals and high-risk applicants. Their digital-first approach, wide product range, and underwriting flexibility make them a company worth considering.
Need help deciding? Contact us today for a no-obligation quote or to compare Prudential with other top insurers.
