Prudential Life Insurance Company Review
This Prudential Life Insurance Company Review will cover the facts about Prudential Life Insurance Company. Whether you are looking at Prudential Term Essential or other PRUCO options, we have you covered. Continue reading to see how Prudential Life Insurance ratings consistently place among the best. Find Prudential Life Insurance Company quotes now using our FREE quote tool.
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UPDATED: Oct 1, 2020
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Prudential Life Insurance Overview
|Key Info||Company Specifics|
|Current Executives||CEO – Charles Lowrey
CTO – Michael Baker
VP/CFO - Ken Tanji
|Number of Employees||49705|
|Total Sales / Total Assets||$64,810,000,000/$831.900.000.000|
|HQ Address||88 Pacific St
Newark, NJ 07105
|Best For||Financial Ratings; Customers Over 50|
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Prudential Life Insurance Company is one of the nation’s long-living life insurance providers. With an emphasis on universal and term life insurance, Prudential Life Insurance Company has the means to protect you, your assets, and your beneficiaries.
Choosing between life insurance companies shouldn’t be so hard. That’s why our Prudential Life Insurance Company review will help you find out Prudential Life Insurance policies, Prudential Life Insurance ratings, and where to get Prudential Life Insurance.
Ready to start shopping for cheap life insurance? Find affordable Prudential life insurance by comparing to other companies now. Take advantage of our FREE quote tool above to compare Prudential Life Insurance Company rates.
Prudential Life Insurance Description
For more than 140 years, Prudential Financial, Inc., 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.
Prudential Life Insurance also has one of the most recognized and trusted brand symbols: The Rock ®, an icon of strength, stability, expertise, and innovation.
Prudential strives to create long-term value for stakeholders through strong business fundamentals, guided by their vision and directed by the company’s core values.
Prudential Life Insurance Details
This company is powerful and stable. With billions in assets, they should have no problems paying your beneficiaries if and when the time comes. Who took over Prudential Life Insurance?
With stability like theirs, you shouldn’t have to worry about any major company mergers. Most notably, they partnered with Goldman Sachs to buy an annuities company, American Skandia. They are still building.
Prudential is also well-known for their stocks, according to Forbes.
About Prudential Life Insurance Company
Founded in 1873, Prudential Life Insurance has continuously grown to one of the stronger insurance providers in the United States. What is the rating of Prudential Insurance Company?
A.M. Best Rating: A+ (as of 2016)
S&P Rating: AA- (as of 2016)
Prudential Life Insurance Company has high-quality ratings for financial strength. They are also a leader in market share percentage, so they are doing just fine. What is the highest rated life insurance company? Well, this depends who you ask; however, Prudential might be in that conversation.
At the end of the day, AIG life insurance reviews, Metlife insurance reviews, and even Transamerica life insurance reviews will likely come back with some great reports. The industry is competitive, so most common names are in strong standing. This is why it’s important to read Prudential insurance reviews before making a decision.
To contact Prudential customer service, call 1-800-778-4357.
Prudential Life Insurance Documents
Prudential Life Insurance Policies
Is Prudential a good life insurance company? Prudential Life Insurance Company can be considered one of the best life insurance companies. They have an assortment of policy options to help a variety of buyers.
In this article, we focus primarily on Prudential term life insurance. While they aren’t known for a Prudential whole life insurance, they do have some other permanent life insurance options.
Included Term Life Features
Accelerated death benefit: Included at no extra cost. The Accelerated Death Benefit (ADB) payment is payable in the event of a qualifying terminal illness. The ADB is based on a portion of the policy’s death benefit, subject to a maximum benefit amount, which is the lesser of $500,000 or 75% of the death benefit.
The ADB is treated as a lien, which accrues interest. Upon the death of the Insured, the death benefits payable are reduced by the total ADB lien. Available in all states except CT.
Included at no extra cost. Convertible to the lesser of the level-premium period or to the first policy anniversary on or after the insured’s 65th birthday, but at least five years. Partial conversions are permitted.
MediGuide Medical Second Opinion
Included at no extra cost. The MediGuide Medical Second Opinion Program provides services should the Insured be diagnosed with a qualifying life threatening condition or disease.
MediGuide America will collect and assemble all medical records and obtain a medical second opinion and recommend three facilities, at no cost to the Insured. Available in all states except KS, NY, WA.
Optional Term Life Features
Prudential Life Insurance offers a variety of option term life insurance riders. These may or may not be added to your policy, depending on your needs.
Additional Term Insurance Rider
Available with extra premium. Additional Term Insurance Riders (AIR) can provide additional temporary life insurance coverage for 10, 15 or 20 years, after which coverage ceases.
Children’s Life Insurance Rider
The Children’s Life Insurance Rider (ICC14-CLIR) provides death benefit protection for families with one or multiple children. A single rider covers all eligible children to the earlier of the child’s 25th birthday, the insured’s 65th birthday or policy termination.
Eligible children of the policy insured (not owner) include any unmarried child, stepchild or legally adopted child, who is not beyond his or her 18th birthday at the time of application. Available only at policy issue when the primary insured person is between the ages of 20 and 55, age nearest birthday.
Waiver of Premium Rider
Available with extra premium. Banner Life Insurance Company will waive all premiums that are due during total disability if given due proof of total disability and such total disability has then existed continuously for at least six months. Waiver of Premium coverage ceases at the Insured’s attained age 65.
Prudential Term Essential
Prudential Term Essential is just that, essential. The term essential meaning is just to say that this policy covers the essentials, whereas Term Elite offers increased benefits. As mentioned before, there are options within Prudential term life insurance.
Term Essential PruLife Return of Premium Term are issued by Pruco Life Insurance Company in all states except New York, where they are issued by Pruco Life Insurance Company of New Jersey. Both are Prudential Financial companies located in Newark, NJ. Product availability varies by state.
The Term Essential form number is PLTIC-2008. The form number for the Accidental Death Benefit is TB 113-2000 and the Children’s Protection Rider is TB 182-2000.
The Return of Premium rider form numbers are ICC13 TB167(15)-2013, TB167(15)-2013, ICC13 TB167(20)-2013, TB167(20)-2013, ICC13 TB167(30)-2013, and TB167(30)-2013. Please note that the product may not be available in all states.
Prudential Term Life Insurance Products
Term Essential is Prudential’s most affordable term product, offering a death benefit at a competitive initial premium. It offers 10-, 15-, 20-, and 30-year level-premium periods.
Term Essential 10: term life insurance with level premiums during the initial 10-year period. Premiums increase annually in years 11 and later.
Term Essential 15: Term life insurance with level premiums during the initial 15-year period. Premiums increase annually in years 16 and later.
Term Essential 20: Term life insurance with level premiums during the initial 20-year period. Premiums increase annually in years 21 and later.
Term Essential 30: Term life insurance with level premiums during the initial 30-year period. Premiums increase annually in years 31 and later.
PruLife Return of Premium returns all premiums, less any contract debt, if all premiums have been paid and the insured is alive at the end of the level-premium paying period.
PruLife Return of Premium Term: Term life insurance with level premiums during the initial 15-year period. All premiums are returned to the policy owner at the end of the term period.
PruLife Return of Premium Term: Term life insurance with level premiums during the initial 20-year period. All premiums are returned to the policy owner at the end of the term period.
PruLife Return of Premium Term: Term life insurance with level premiums during the initial 30-year period. All premiums are returned to the policy owner at the end of the term period.
Important Note: PruLife®Return of Premium Term returns all premiums paid during the level premium period selected if the insured lives to the end of the selected period. Returned premiums do not include any outstanding loans and interest owed.
The amount returned may vary on a case-by-case basis if the policy lapses, or is surrendered, prior to the end of the level premium paying period.
Prudential Life Insurance Company Review: The Bottom Line
If you’re looking for a strong company with multiple options for life insurance, Prudential Life might be for you. Whether you need standard term life insurance or the flexibility of universal life insurance, Prudential has options for everyone.
Did this Prudential Life Insurance Company review answer all of your questions? Ready to buy Prudential Life Insurance Company insurance? Take advantage of our FREE quote tool below.