Prudential Life Insurance: Comprehensive Plans and Review

Shawn Plummer

CEO, The Annuity Expert

Prudential Life Insurance is a company that has been around for over 100 years, and they have an extensive history of success. Their goal is to provide excellent products and services to their customers at affordable prices. This review will cover Prudential’s comprehensive plans, the benefits they offer, 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 are providing a non-biased review of the products.

Who is Prudential?

In 1875, Prudential was started, and it is a company that offers many different products. They have over $4 trillion of life insurance in force worldwide.

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 8 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 not available.
  • 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 if you die while covered, then your beneficiary will get money.

Term Essential

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

Term Elite is like Term Essential, but it has a bonus. If you choose to convert your policy to permanent coverage within the first five years, you will get a credit on your first-year premium.

PruTerm One

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 rate of interest 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 different 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 that you can access while alive.

Variable Protector

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 you need it. 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. You need to buy this rider. It is only available in some states and not in Massachusetts.
  • BenefitAccess: If you become terminally ill, this rider will allow you access 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, but 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 largest 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, if something changes in your life or you divorce, you can split your survivorship policy into two separate policies.
  • 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. 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 totally 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. 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 either run an online quote instantly without a life insurance agent or request a custom Prudential life insurance quote.

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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:

  • 800-944-8786
  • 800-778-2255

Prudential Life Insurance Videos

What is Life Insurance?

YouTube video

Why You Should Consider Disability and Life Insurance

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The Best Kept Secrets of Life Insurance

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Need Help Getting Life Insurance Coverage?

Prudential Life Insurance

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 that you get coverage so that 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.

Impaired Risk Life Insurance
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Have You Been Declined Life Insurance Coverage Before?

Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

The Annuity Expert is an online insurance agency servicing consumers across the United States. My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you. 

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