Company Spotlight: Prudential / Pruco Life Insurance Company

UPDATED: Mar 26, 2020

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As an online life insurance broker, we’re not limited to working with one specific life insurance company. By definition, a broker typically works with several companies but represents you, not the company.

Every life insurance company we make available to you has been carefully chosen to provide competitive prices, fast application processing and underwriting, and excellent customer service. Today, we’ll take a closer look at one such company: Prudential / Pruco Life Insurance Company.

The Company

Pruco Life Insurance Company is a Prudential Financial company. For nearly 140 years, Prudential Financial has helped individual and institutional customers grow and protect their wealth. Today, they are one of the world’s largest financial services institutions with operations in the United States, Asia, Europe, and Latin America.

Pruco Life has an A+ rating from AM Best rating service, and an AA- rating from Standard & Poor’s rating service. These company ratings represent a measure of a company’s claims-paying ability and overall performance.

Prudential Life Insurance Company


Features Included with Every Term Life Insurance Policy

These features are often called “riders” in life insurance lingo. This simply means they “attach to” or “ride along” with your policy. These two are included for free with your policy.

1. Living Needs Benefit Rider

Prudential includes a Living Needs Benefit (LNB) rider at no extra cost to you (in approved states). This benefit allows you to receive a portion of the death benefit if you become terminally ill, with a life expectancy of six months or less, or if you become confined to a nursing facility for at least six months. The policy owner can request payment of up to 100 percent of the eligible death benefit (75% in CT).

2. Conversion Option

A Conversion Option (CO) is included with no extra premium. You may convert the policy to any permanent life policy issued by Prudential.  You do not need to show evidence of insurability to convert your policy, as long as you do it during the guarantee period of the policy, which expires the latter of five years after the policy is issued or the policy anniversary date after your 65th birthday.

Optional Features You can Add to Your Policy

You can buy these optional riders and they will also become a part of your policy.

1. Waiver of Premium Rider

A Waiver of Premium (WOP) rider is available with extra premium. If you have a total disability, and after a waiting period of six months, your premiums will be waived retroactively from the beginning of the disability. The premiums will continue to be waived for the duration of your total disability.

With the exception of California, under Waiver of Premium, total disability is defined as: (1) during the first two years of total disability, the insured is unable, due to sickness or injury, to perform any of the duties of his or her regular occupation; (2) after the first two years of total disability, the insured is unable, due to sickness or injury, to perform any gainful work for which he or she is reasonably fitted by education, training, or experience.

2. Accidental Death Benefit Rider

An Accidental Death Benefit (ADB) rider is available with extra premium. This rider pays in addition to the base policy death benefit if you were to die in an accident. The benefit amount is up to the face amount of the base policy or a maximum of $500,000 on any one life (includes any such benefit already in force). For example, let’s say you have a $250,000 term life policy with the ADB rider attached. If you die in a covered accident, Prudential will pay your beneficiary an additional $250,000 death benefit, for a total payout of $500,000.

You can buy this rider if you are between the ages of 18-65. It will expire on the policy anniversary nearest your 70th birthday.

3. Children’s Protection Rider

The Children’s Protecton (CPR) rider is also available with extra premium. It provides level term insurance on each insured child, up to age 25. One rider covers all children in the family and any new children born or adopted after the policy is issued, with no increase in cost. The minimum amount of coverage available is $10,000 and the maximum is $100,000. You can buy this Rider if you are between the ages of 18-55 and your children are between the ages of 14 days to 18 years. It expires if you die (90 days after), if you reach age 75 , or when your youngest child reaches age 25, whichever happens first.

Available Policies

Prudential term life policies include term lengths of 10, 15, 20, and 30 years, during which your rates are guaranteed to remain the same. The minimum coverage amount is $100,000, and the maximum is $65 million. A paramedical exam is required to apply for all policies.

Remember, working with an online life insurance broker has its advantages. Buying online allows you to complete the process at your pace while avoiding pressure to buy. It also gives you a variety of life insurance companies to choose from.

Get started with a free quote and let us know if you’d like one of our licensed Insurance Professionals to help you choose the best life insurance company for you and your unique circumstances.

Tim Bain

Tim is a licensed life insurance agent with 23 years of experience helping people protect their families and businesses with term life insurance. He writes and creates stuff for QuickQuote and other insurance and financial websites. You can find him on Twitter.

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