Prudential Life Insurance Review

#8 in Life Insurance

 

Prudential Life insurance products covers a mix of premium and benefit options designed to help consumers enjoy financial protection and security. It provides access to cash value and cash accumulation features on some of its insurance policies. Numerous rider benefits and options are also available for consumers seeking policies more attuned to their needs.

 

Plan Details

Features

Guaranteed death benefits

Renewable term life insurance

Flexible premiums

Access to cash value

Eligibility to earn dividends

Convertible to permanent policy

 

Life Insurance Plans Offered

 

A. Term Life Insurance

  • Lower premiums
  • Short term
  • Guaranteed premiums

 

 

 

Term Essential

Term Elite

PruTerm WorkLife 65

PruLife Return of Premium Term

PruTerm One

Terms

10,15,20,25,30

10,15,20,25,30

Level premiums until age 65

15,20,30

Renewable yearly up to age 95

Conversion period (Permanent Life)

Available to the end of the level premium period, never less than 5 years, available up to age 65

Available to the age of 65 or 5 years from issue, whichever is later

Available to the age of 65

Available to the end of the level premium period or age 65, whichever is earlier but never less than 5 years

Available through the 5th policy anniversary

Customization options

Accidental death benefit, Child protection,

Living needs benefit, Waiver of premium

 

Accidental death benefit, Child protection,

Living needs benefit, Waiver of premium

 

Accidental death benefit, Child protection,

Living needs benefit

Accelerate death benefits should you become terminally ill, living needs benefit

Accelerate death benefits should you become terminally ill, living needs benefit

Conversion credit

 

 

Convert within the first 5 years

 

 

Protection options

 

 

Guaranteed continued protection and waived premiums if policy holder becomes disabled before age 65 or become unemployed

 

 

Get your money back

 

 

Out-of-pocket premiums are to be returned at the end of level premium period (living policy holders and for active policies only)

 

 

 

*** Return of Premium. Paid premiums are returned at the end of the level-premium period. Term offering additional protection. More optional benefits, riders for added protection.

 

B. Permanent Life Insurance

  • Lifelong coverage
  • Access to cash value
  • Guaranteed benefits

 

1. Universal Life

  • Long term
  • Up to age 90
  • $25,000 minimum coverage
  • Death benefit protection
  • Supplemental income
  • Cash value accumulation
  • Trust and estate planning

 

  1. PruLife Universal Protector
  2. PruLife Universal Plus
  3. PruLife Index Advantage UL
  4. PruLife SUL Protector
  5. PruLife Founders Plus UL

 

2. Indexed Universal Life

  • Permanent coverage
  • Guaranteed death benefits
  • Lifetime coverage
  • Two lives coverage with one policy
  • Accumulates cash value
  • Access to cash value

 

3. Survivorship Universal Life

 

4. Variable Universal Life

  • Offers growth potential based on market performance
  • Potential to build value
  • Access to cash value

 

Plan Riders

Accidental death benefit

Child protection

Living needs benefit

Waiver of premium

Guaranteed minimum cash value

No lapse guarantee

Spouse protection

 

Financial Summary

Standard and Poor’s

AA-

Moody’s Rating

 

A.M. Best FSR

 

 

Prudential Life Insurance - Final Thoughts

The lack of a Whole Life insurance product is what keeps Prudential Life Insurance from climbing to the top of our life insurance list. However, the company does offer a variety of Universal Life insurance policies that offer permanent coverage and a lot of rider benefits. A number of life insurance plans that offer cash accumulation and investment options are also available for those hoping to get the most of their premiums. Certainly not the best in terms of policy options but Prudential Life Insurance will always be a good bet when shopping for life insurance. 

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