Prudential Life Insurance is a company that has been around for over 100 years, and they have an extensive history of success. Its goal is to provide excellent products and services to its customers at affordable prices. This review will cover Prudential’s comprehensive plans, their benefits, rates and pricing information, customer satisfaction ratings, and any reviews or complaints about the company from consumers.
Note: We are an independent licensed insurance agency representing Prudential Life Insurance (among 25 other life insurance companies) and provide a non-biased review of the products.
- Who is Prudential?
- Prudential Life Insurance Pros and Cons
- Prudential Life Insurance Quotes
- Prudential Life Insurance Policy Types
- Prudential Life Insurance Riders
- How To Cancel a Prudential Life Insurance Policy
- How To Find Prudential Life Insurance Near Me?
- Prudential Life Insurance Customer Service
- Prudential Life Insurance Videos
- Need Help Getting Life Insurance Coverage?
- Related Reviews
Who is Prudential?
Prudential financial strength is solid with ratings from:
- A.M Best: A+ (Excellent)
- Standard and Poor’s: AA-
- Moody’s: Aa3
- Fitch: AA-
The company provides customers with two types of life insurance, term insurance, and universal life insurance.
Prudential Life Insurance Pros and Cons
- They offer eight different universal life policies to pick from.
- The company offers robust online tools and resources to help customers make the right decision.
- You can talk to a financial professional about choosing a Prudential life insurance plan. They will help you figure out what is best for your needs.
- To get a quote, you need to give your medical history.
- You cannot get online quotes for some policies.
- Life insurance with a final expense plan (burial insurance) is unavailable.
- Whole life insurance is not available.
Prudential Life Insurance Quotes
Prudential Life Insurance Policy Types
Prudential Term Life Insurance
Term life insurance is an affordable way to protect your family from the cost of death. You make regular payments for the life of your policy (up to 30 years), and your beneficiary will get money if you die while covered.
Term Essential is Prudential’s cheapest life insurance policy. You can get $100,000 to $10 million in coverage and choose a term from 10-30 years. Your premiums stay the same for the length of your term, and you can convert your policy to permanent life insurance without going through another medical exam.
Term Elite is like Term Essential, but it has a bonus. You will get a credit on your first-year premium if you convert your policy to permanent coverage within the first five years.
PruTerm One is a one-year life insurance policy. It’s best for business owners who have money to pay off loans and want short-term policies.
Prudential Whole Life Insurance
Currently, Prudential does not sell whole life insurance and limits to either term life insurance or universal life insurance plans.
Prudential Universal Life Insurance
PruLife Essential Universal Life
With Prudential universal life insurance, your beneficiaries can get the death benefit without paying taxes. As a result, this policy may reduce estate taxes down the line. In addition, you’ll have access to your cash value while you’re alive.
PruLife Founders Plus Universal Life
You can build cash value with this plan. You can take the money for any purpose, like retirement income. You can choose a fixed interest rate or the other option, which pays out based on how the S&P 500 is doing but does not give dividends.
PruLife Index Advantage Universal Life
This policy has the most significant potential to grow cash value. It has four options for building cash value: a fixed interest rate or three strategies based on S&P 500 performance with no dividends.
PruLife Survivorship Protector Universal Life
This plan pays a death benefit when the second insured person dies. It also has a lifetime no-lapse premium.
PruLife Survivorship Index Universal Life
Indexed Universal Life is a life insurance policy that grows and protects your children’s or grandchildren’s legacy. It covers two people and only pays the death benefit when both covered persons have died. This policy may build up a cash value you can access while alive.
If you want to protect your family, the VUL Protector plan might be for you. It may give you some returns with a moderate amount of risk. However, it also offers a no-lapse guarantee that will last your whole life.
PruLife Custom Premier II
If you want to grow your money for a long time, or if you’re going to try something riskier, the PruLife Custom Premier II is a good choice. It has some risk, but it may have higher returns. In addition, there are two “no lapse” guarantee periods.
Prulife Survivorship Variable Universal Life Protector
This Prudential life insurance policy covers two people and pays the death benefit after the second person dies. This policy also guarantees that it won’t lapse, meaning you will get your money back when needed. You can choose the risk taken by selecting the underlying investment option.
Prudential Life Insurance Riders
- Accidental Death: If you have an accident that causes your death, the accidental death rider provides a little bit more money to your family. It would help if you bought this rider. Unfortunately, it is only available in some states and not in Massachusetts.
- BenefitAccess: If you become terminally ill, this rider will allow you access to the death benefit while alive to pay for healthcare costs. This is an upsell benefit at an additional cost.
- Survivorship BenefitAccess: The same as the standard BenefitAccess covers two lives.
- Children Level Term Coverage: The Children Level Term rider can help you get life insurance for your kids. You can also change it into a permanent policy when they get older.
- Children’s Protection: The Children’s Protection rider is a life insurance rider you can add when you buy a term life insurance policy. You can convert the coverage to permanent insurance when your children get older.
- Enhanced Cash Value: The Enhanced Cash Value rider is for business purposes. This rider offers the most significant refund if you need to give up the insurance in the early years.
- Enhanced Disability: If you can’t work because of a disability, the Enhanced Disability Benefit will keep your life insurance policy in force. This is only available for permanent life insurance policies.
- Estate Protection: The Estate Protection rider increases the death benefit by up to 100% if both insured people die before the fourth policy anniversary.
- Guaranteed Policy Split: With the Guaranteed Policy Split rider, you can split your survivorship policy into two separate policies if something changes in your life or your divorce.
- Living Needs: If you are terminally ill or confined to a nursing home, you can use this rider in your insurance policy to access your death benefits early. There is no charge for adding the Living Needs rider to your policy, but you will only pay for the rider when it is used. Unfortunately, it is not available in Washington.
- Overloan Protection: If you have a policy loan on your universal life insurance plan, there is a chance that it will lapse. The Overloan Protection rider can prevent this from happening. It has a one-time charge.
- Waiver of Monthly Deductions: If you become disabled for at least six continuous months, Prudential will pay the monthly charges into the contract fund.
- Waiver of Premium: If you are disabled and cannot work, you can get a waiver of premium so that your insurance policy does not end.
How To Cancel a Prudential Life Insurance Policy
Canceling during the free-look period
Prudential life insurance plans offer a 10-day free look period. Some states have more time for people to cancel without paying anything. In the ten days, you can review your policy and cancel it if you want to, or keep it if you don’t want to. If you decide not to keep it, Prudential will refund your money.
Canceling after the free-look period
After the free look period is over, it may be harder to cancel your policy. But, again, it will depend on the type of cancellation policy and your state. In addition, you might need to pay surrender charges or other administrative fees, so read the contract carefully.
How To Find Prudential Life Insurance Near Me?
You can run an online quote instantly without a life insurance agent or request a custom Prudential life insurance quote.
Prudential Life Insurance Customer Service
Some people can get quotes for term life insurance online with Prudential life insurance. But most people will need to call a Prudential financial professional to get a quote and purchase a policy.
Prudential is only open from Monday to Friday from 8:00 am until 8 pm ET.
Customer service is available by phone at:
Prudential Life Insurance Videos
What is Life Insurance?
Why You Should Consider Disability and Life Insurance
The Best Kept Secrets of Life Insurance
Need Help Getting Life Insurance Coverage?
If you have a preexisting medical condition and want to buy life insurance, you will need help from an expert. This person can help ensure you get coverage, so you don’t get declined.
Warning: Applying for life insurance without a medical exam can be risky. If you get coverage, it could be at least two years before you can get any life insurance.
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