Prudential (aka PRUCO Life Insurance Company or Pru) offers competitive term life insurance and universal life insurance.
This Prudential Life Insurance Review Covers:
Prudential is known for its expertise in life insurance underwriting.
If you have health issues, risky occupations, or participate in adventure sports activities, Prudential is competitive.
As part of our review of the best life insurance companies, we cover the following.
Prudential Overview
Prudential is the largest life insurer in the United States, with over $3.7 trillion of life insurance in force worldwide.
Prudential also offers retirement planning, investment management, and group life insurance.
Prudential Ratings
Independent ratings as of 5/5/2020
AM Best = A+
Moody’s = Aa3
S&P = AA-
Fitch = AA-
Prudential Underwriting Review
When it comes to life insurance underwriting, Pru is one of the best for:
- Non-Tobacco Life Insurance Niches
- Large Face Life Insurance Cases
- High-Risk Health Conditions such as:
- HIV Life Insurance Coverage
- Heart Disease Life Insurance
- Diabetes Life Insurance
- Sleep Apnea Life Insurance
- GI Problems Life Insurance
- Elevated Liver Enzymes Life Insurance
- Life Insurance Build Charts
- Non-medical Underwriting Expertise includes:
- Private Pilots
- Scuba Divers
- Rock and Mountain Climbers
- Risky Occupations
When it comes to life insurance for high-risk health conditions, Prudential is always a competitive life insurer.
Until recently, Prudential was the only company that would treat e-cigarette and vape users as non-tobacco clients.
That changed in October 2019 as e-cigarette and vape users now receive tobacco/nicotine rates.
We shop every case to Pru as they are going to be one of the better companies for most health issues.
Prudential Product Information
Prudential offers many types of life insurance, including term life insurance products and universal life insurance products.
Term Essential
Term Essential is Prudential’s most affordable and popular term life insurance product.
Term Essential features include:
Level Premiums – During the 10, 15, 20 or 30 year term life period, premiums remain level.
Please Note – Prudential has temporarily suspended sales of their 30-year term products due to COVID.
At the end of the term period, premiums increase annually until coverage ends at age 95.
Premiums are not guaranteed after the level term period.
Conversion to permanent life insurance is available.
The conversion privilege is the lesser of:
The level term period or to the first policy anniversary on or after you turn age 65, but at least 5 years.
Term Elite
Term Elite is Pru’s more expensive term life insurance product, for a number of reasons as mentioned below.
Term Elite offers an extended conversion privilege and fully guaranteed premiums after the level term period.
A conversion credit is available if you exchange your term policy for permanent life insurance during the first 5 years.
Like the Term Essential, the premiums for Term Elite remain the same during the level term period.
When the level term period ends, Term Elite’s premiums increase each year thereafter but are guaranteed.
Coverage ends at age 65.
Conversion to Pru’s permanent life insurance is available until:
The first anniversary after your 65th birthday, but at least 5 years regardless of the issue age.
If you convert the policy between months 13 – 60, the Term Elite product will give you a credit for the prior 12 months premium.
Term Elite is mainly used when the insured will be converting their policy or if they like having the extended conversion privilege available.
Universal Life Insurance Products
Prudential offers many universal life insurance products, including:
- No Lapse Guaranteed Universal Life Insurance (GUL)
- Cash Value Universal Life Insurance
- Index Universal Life Insurance
- Survivorship Universal Life Insurance
PruLife Universal Protector
This is PRUCO’s universal life insurance policy with a no-lapse guaranteed death benefit.
With this product, you can get a lifetime death benefit guaranteed policy that does not depend on the cash value of the policy.
PruLife Index Advantage UL
This index universal life insurance policy offers you the potential to build cash value over time.
Interest credited is based on the performance of the S&P 500.
PruLife Founders Plus UL
This is an index universal life insurance policy with the potential to build cash value based on the performance of the S&P 500.
Prudential Life Insurance Riders
Prudential offers many life insurance riders for their policies.
Please note that rider availability depends on the product type you choose, the state of policy ownership, and other factors.
Accidental Death Benefit Rider
Accidental death benefits provide an additional benefit if the insured dies as a result of an accident as defined by the rider.
There is an additional cost for this rider, and the availability of the rider depends on your:
- Such as state of residence
- Issue age
- Product selected
- Underwriting rate class received, etc.
Coverage amounts of $25,000 – $500,000 is available.
The maximum amount is limited to the lesser of $500,000 or the amount of life insurance you purchased.
Children Protection Rider
Child riders provide inexpensive life insurance in the event something happens to your child.
The premium for the child rider is the same no matter how many children you have.
The child rider is available for issue to all children aged 14 days to 18 years of age.
Coverage amounts from $10,000 – $100,000 is available.
The rider may not be available if the primary insured receives a substandard underwriting offer of Table “B” or greater.
Underwriting may consist of obtaining medical records.
Child coverage may not be available if the child would receive a medical rating of “Table “A” or greater.
A child may be excluded from a child rider due to health issues.
Children who are born or adopted are automatically added to the policy without underwriting.
Stepchildren are automatically added as well.
The children protection rider ends on the earlier of the following events:
- The first anniversary on or after the child’s 25th birthday
- The primary insured’s 75th birthday
- 90 days after the primary insured dies
The above is just a general overview.
There are specific details by state of residence that we will provide you with if the children’s protection rider is something of interest.
The child rider may be converted to an individual policy for your child following the child’s 18th, 22nd or 25th birthday.
Living Needs Benefit
The living needs benefit rider accelerates all or a portion of your death benefit.
Available if you are defined as terminally ill or confined to a nursing home permanently.
The availability of this rider varies by state, and the product selected
Check back often as we continue to update the riders available.
Prudential Conclusion
Prudential offers many competitive options that are worth considering.
As part of our service, we’ll provide you with quotes from Prudential as well as any other companies that are competitive with Pru.
Please take a few minutes to submit your quote request today.
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