This life insurance review is based on working with Prudential as a wholesaler, and life insurance agent, and also includes experiences from actual policyholders.
Working with Prudential since 1998, we’ve helped many clients get the best life insurance rates based on their individual needs.
Sometimes Prudential is the best, and other times one of the other 40 life insurance companies we work with is.
As one of the largest life insurers in the United States, Prudential has $3.7 trillion of life insurance in force worldwide.
As a comparison, New York Life Insurance Company has $1 trillion of life insurance in force.
Prudential (aka PRUCO Life Insurance Company or Pru) offers competitive term life insurance and universal life insurance.
Retirement planning, investment management, and group life insurance are also available.
Ratings as of 05/2021 and subject to change.
Prudential makes it easy to apply for life insurance and complete the underwriting process.
Pru is a great option for:
(1) – Must meet criteria for accelerated underwriting, otherwise paramed is required.
With Prudential’s accelerated underwriting program, we gather some of the basics from you and submit a ticket to start the application process.
Check out Prudential’s Consumer Guide
Once we submit the ticket, you’ll receive a link to the eInterview to complete health information when it’s convenient for you.
Customer Feedback – It takes some time to work through the eInterview (30 minutes), but if you’ve been through a phone interview asking those same questions, eInterview is better.
If you qualify, you will be approved within days.
If not, your application will continue through the normal underwriting process requiring medical records and possibly a paramedical exam.
Prudential is often one of the best companies for:
Prudential, Cincinnati Life, John Hancock, and Lincoln will give non-tobacco rates to cigar smokers and chewers with positive urine samples.
If you have health issues, risky occupations, or participate in adventure sports activities, Prudential is competitive.
Prudential offers many types of life insurance, including term life insurance products and universal life insurance products.
Prudential offers the Term Essential life insurance product.
The Term Elite was discontinued in November 2021.
If you’re a CPA, you may already be familiar with the AICPA term life insurance policies available. These group policies offer a 10 or 20-year term length.
A number of universal life insurance products are available from Prudential.
Each product addresses slightly different needs depending on what you are looking to accomplish.
With any universal life policy, always request the complete company illustration for review.
This policy offers no-lapse guaranteed death benefits and the ability to accumulate cash values over time.
Prudential says the Essential UL focus is for people who are:
Essential UL Product Highlights:
We explain the basics of riders later in this article.
This is an index universal life insurance policy that offers no-lapse guaranteed death benefits and the potential for cash value accumulation based on the interest crediting option(s) you choose.
Prudential says the Founders Plus UL focus is for people who are:
Founders Plus Product Highlights:
The real appeal of index universal life policies is the potential to receive a higher crediting rate of interest than the traditional Essential UL.
This index universal life insurance policy offers you the potential to build cash value over time through both fixed and indexed interest options.
Prudential says the Index Advantage UL focus is for people who are:
Index Advantage UL Highlights:
With this type of policy, the owner overfunds the policy, builds up cash value using the different interest crediting options available.
Policy loans are then used to withdraw cash on a tax deferred basis, supplementing your retirement, etc.
Quick Note: We are not tax advisors and do not give tax advice…talk to your accountant for tax matters.
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.
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:
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.
The Benefit Access Rider is an accelerated death benefit rider for chronic illnesses.
The rider is available with Prudential’s universal life insurance policies.
Please note that the rider is not available in all states and there may be variations from state to state.
Ask us, and we’ll provide you with the most up-to-date information for your state.
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 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.
The above rider is available with the Term Essential and Term Elite products.
For universal life policies, the rider is called the Children Level Term rider, with essentially the same highlights as the above.
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.
If you are buying a universal life policy with the intention of using policy loans or withdrawals in the future, you should get the Overloan Protection rider.
The reason why is this rider protects the policy from lapsing when there is an outstanding loan on the policy.
If your policy lapsed with an outstanding loan, you could end up with a sizable tax bill.
Prudential is one of the better companies for customer service.
You may call customer service at 800-778-2255
Online access to your policy information is available by logging in – here
Prudential’s home office is located at:
213 Washington Street – Newark, New Jersey 07102
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.
We take our responsibility seriously and will do whatever we can to make sure you end up with the best life insurance company based on your unique life insurance needs and situation.