Prudential (aka PRUCO Life Insurance Company or Pru) offers competitive term life insurance and universal life insurance.
Prudential is known for its expertise in life insurance underwriting.
Prudential Life Insurance – Everything You Need to Know
If you have health issues, risky occupations, or participate in adventure sports activities, Prudential is competitive.
As one of the largest life insurers in the United States, Prudential has $3.7 trillion of life insurance in force worldwide.
Retirement planning, investment management, and group life insurance are also available.
Independent ratings as of 5/5/2020
AM Best = A+
Moody’s = Aa3
S&P = AA-
Fitch = AA-
When it comes to 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
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.
Prudential offers many types of life insurance, including term life insurance products and universal life insurance products.
Prudential’s most affordable and popular term life insurance product.
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.
Prudential’s more expensive term life insurance product, for a number of reasons as mentioned below.
Benefits of the Term Elite are 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, you receive a credit for the prior 12 months premium.
Term Elite is mainly used when the insured knows they will be converting their policy.
Universal Life Insurance Products
Universal life insurance products include:
- 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 get a lifetime death benefit guaranteed policy that does not depend on the cash value of the policy.
PruLife Essential UL
A current assumption universal life insurance policy, that
Provides a balance between no-lapse guarantees and cash value accumulation.
The PruLife Essential is worth considering if,
You like the idea of having a no-lapse guaranteed death benefit, but would like cash value too,
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
Provides an additional benefit if the insured dies as a result of an accident as defined by the rider.
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
Provides inexpensive life insurance for your children.
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.
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 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.
Prudential is a great life insurance company to consider.
There is no pressure or obligation with our service.
We’ll provide you with the information you need to make an informed decision about your life insurance.
Please take a few minutes to submit your quote request today.
Michael J Horbal
I’m the owner of RiskQuoter. We specialize in life insurance underwriting, helping you get the best rates whether you have perfect health or a history of medical problems.
Last Updated – January 26, 2021