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Prudential Life Insurance Review


ConsumersAdvocate.org Rating: 4.3 / 5 (Excellent)
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Prudential Life Insurance Company was founded in Newark, New Jersey, in 1875. Since its inception, the company has expanded to offer comprehensive term and universal life insurance policies, annuities, pension and retirement investments, and asset management services in the United States, Asia, Europe, and Latin America. Prudential holds an S&P financial rating of A.
 
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How is Prudential rated?

Breakdown

4.4/5
Company Stability
4.0/5
Reputation
4.5/5
Policies & Coverage

Overall Rating: 4.3 / 5 (Excellent)

Prudential's life insurance product line includes various term universal policies with customizable benefit options. Customers can select the product or products that meet their needs for protection and, in some cases, income and financial growth, as well as their budgets. Multiple riders are available to customize your policy to align with your life stage and financial position as those things change.

Choosing a life insurance strategy is something many people do in consultation with a financial advisor, but Prudential's website offers a wealth of information that can help you understand your choices and select plans independently.

While Prudential is certainly an established leader in insurance and financial services, the company does not offer basic whole life policies. Whole life policies often have such advantages as level premiums for the life of the policy, a living benefit, and the opportunity to build policy cash value. Some of these features may also be available through Prudential's Universal, Variable Universal, and Indexed Universal policies, though.

Financial Strength

Key Details

Underwriter
The Prudential Insurance Company of America
Marketshare
0.509%
Standard & Poor's Financial Rating
AA-
Moody's Financial Rating
A3
AM Best Financial Rating
a+

Company Stability - 4.4 / 5

Prudential Financial Inc. enjoys a strong financial reputation and stable outlook, according to leading financial rating organizations. A.M. Best gives the company an A+ rating for financial stability S&P and Moody's give the company an AA- rating and an A-3 rating for creditworthiness, respectively.
*The above information reflects the market share, premiums, and financial strength of the issuer of the Prudential life insurance policies: The Prudential Insurance Company of America.

Reputation & Customer Experience

National Association of Insurance Commissioners

NAIC Complaint Ratio 2017
0.98
NAIC Total Complaints 2017
171
*The NAIC complaint ratio (in this case 0.98) is a ratio of the number of complaints a company received for the total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Customer Ratings

Trust Pilot Rating
1.4 out of 5
Date Collected
2021-04-16

Reputation - 4 / 5

Prudential Life Insurance Company of America is not currently rated by the Better Business Bureau. The company earns a poor rating (1.4 out of 5 stars) on Trustpilot. According to the NAICS, there were 171 customer complaints filed against the company in 2020. Their complaint ratio falls right in line with the national average.

Prudential Policies

Prudential offers customers the following life insurance policies: Term, Universal Life, Variable Universal Life, Indexed Universal Life.

Term Life Insurance

Minimum Age
18
Maximum Age
65
Minimum Death Benefit
$100,000
Maximum Death Benefit
$1,000,000
Available Terms
10 year
15 year
20 year
30 year

Key Term Policy Features

  • Term-Permanent Conversions
  • Guaranteed Level Premiums

Policies & Coverage - 4.5 / 5

Prudential provides a host of term and universal life insurance policies, including multiple indexed and variable universal coverage options. The company offers a choice of four term life policies that afford death benefits s ranging from $100,000 to $1,000,000. Some feature living benefits, guaranteed level premiums, and the option to convert the policy to a permanent one.

Flexibility and Available Riders

Available Term Life Riders

  • Child Protection Rider
  • Accidental Death Benefit Rider
  • Disability Income Rider
  • Critical Illness Rider

Available Universal Life Riders

  • Waiver of Premium

Flexibility & Available Riders - 0 / 5

Prudential offers a solid variety of optional riders for their term life policies, such as disability income, critical illness, accidental death, and child protection options. Their plans are quite flexible and allow for customization, yet not all riders are available for all policies.

Additional Company Information

Homepage URL
https://www.prudential.com/
Company Phone
(800) 728-2995
Headquarters Address
200 Wood Ave S, Iselin, NJ, 08830
Year Founded
1875

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Customer Comments & Reviews

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G
George M
3/8/2019
Worst company I have ever had to deal with. I had 3 life insurance policies and cashed 2 in when I went disabled. My agent did not inform me of the waiver of premium rider on those policies. I did apply for waiver of premium on the kept policy after I was disabled for two years. Prudential just denied my renewal even though I am totally and permanently disabled. I had a car accident 19 months ago that even caused further disability! I was told in Sept 2018 that the waiver was approved but later was told it was still being reviewed! I received the denial just 3 weeks before the semi annual premium was due! The claims examiner never returns my call and in fact they never give me her... Read More

P
p b
11/30/2018
Granted, all the top star ratings are by reviewers of offerings as well as investors in systems like S&P 500. It is indisputable that this is a great investment for those looking for solid long term securities. HOWEVER..... NONE of these reviewers have revealed the actual BREATHTAKINGLY INEPT claims department and their ABSOLUTE LACK of will in regards to payouts for decades in premium payments for all the reasons one uses a life insurance policy company in the first place.

Top Rated
Our Partner
  • The only 100% no medical exam term life insurance
  • Ages 18 to 60 are eligible to apply
  • Term life policies $50,000-$1.5 million in coverage
  • Company offers 10, 15, 20, 25, and 30-year terms
  • Monthly premiums as low as $10
  • Featured in WSJ, CNN, Forbes, TechCrunch & Money.com
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