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Prudential Life Insurance Review

prudential life insurance review

Written By Doug Mitchell

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA.  Doug has spent close to 30 years in the insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health.  Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

Holly Mitchell  &

Holly Mitchell’s background in life insurance insurance goes back to 1985 when she worked for her father who was a New York Life agent. Holly has a marketing degree from Auburn University and has had a life insurance license since 2008. In addition to advising life insurance for customers all around the country, Holly is our website fact checker.

Rob Pinner   &

Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

Louis LaBash

Results-driven and innovative life insurance professional with 30 plus years of life insurance industry sales and marketing experience. Recognized as a pioneer in the field, leveraging phone and internet channels to exceed personal sales of over $100 million during the first decade of the 21st century. Creator of a highly effective intuitive IUL life insurance sales software that facilitated the sale of millions of dollars of indexed universal policies by numerous life insurance agents. Proven track record as a Managing General Agent (MGA), Life Agent, IUL Life Insurance Sales Software developer, and leading-edge creator of insurance marketing tools, educational content, and delivery systems.

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If you’re a young family or a working family, hopefully, you’re using a well-planned budget; and, if anyone depends on your income, hopefully, a piece of your plan is a life insurance policy.

But if you’ve never purchased one before, you might not even know what to look for, where to get it, or how much it’s going to cost you.

To start your search, you probably want to know which companies are going to offer the best choices.

Let’s discover Prudential Life Insurance Company and see if they might be right for you.

The History of Prudential Insurance Company

Prudential Financial has more than 140 years of experience in the insurance and financial services industry.

The company helps both individual and institutional customer with growing and protecting their wealth.

Over the years, Prudential has become one of the most recognized brands, as well as one of the most admired companies in the world.

Today, Prudential has operations in the United States, as well as in Asia, Europe, and Latin America.

The company offers a long list of products and services, which include life insurance and annuities, mutual funds, investment management, and other retirement-related services.

The company has earned many awards and accolades, such as ranking:

  • First in the “Insurance: Life and Health” category of Fortune magazine’s 2017 list of the World’s Most Admired Companies
  • Second-largest life insurer in the United States (based on life and health insurance combined, and total admitted assets)
  • Third-largest individual life insurance business in the United States regarding statutory net written premiums
  • Ninth-largest asset manager worldwide
  • Fourth-largest seller of individual life insurance in the United States, based on recurring premiums

Prudential Financial, Inc. has a number of subsidiaries, including:

  • The Prudential Insurance Company of America
  • PRUCO Life Insurance Company
  • PRUCO Life Insurance Company of New Jersey
  • Prudential Annuities Life Assurance Corporation
  • Prudential Retirement Insurance and Annuity Company
  • The Prudential Life Insurance Co., Ltd. (Prudential of Japan)
  • Gibraltar Life Insurance Company, Ltd.
  • The Prudential Gibraltar Financial Life Insurance Co. Ltd.
  • Prudential Life Insurance Co. of Taiwan, Inc.

Prudential continues to work towards its long-time mission of creating long-term value for its stakeholders through strong business fundamentals. The company is headquartered in Newark, New Jersey.

Prudential Life Insurance Overview

Prudential has a widely recognized name in the U.S., as well as throughout the world.

The company, through its subsidiaries, serves customers in more than 40 different countries.

As of November 2017, Prudential (or “Pru”) had $1.366 trillion in total assets under management and approximately $3.7 trillion of life insurance in force.

The company is also well regarded as being environmentally friendly, as well as diverse regarding its employees and associates.

As a stock insurance company, Prudential Financial, Inc. has common stock shares, which have traded on the New York Stock Exchange since 2001. The company’s stock symbol is PRU.

Financial Ratings

Due in large part to its overall financial strength, as well as its ability to pay the claims of its policyholders, The Prudential Insurance Company of America, is highly rated by all of the major insurance company rating agencies.

  • A+ from A.M. Best Company
  • AA- from Standard and Poor’s
  • A1 from Moody’s Investor Service
  • AA- from Fitch Ratings

Even though the company is strong from a financial standpoint, The Prudential Insurance Company of America – which is not a Better Business Bureau accredited company – has received a grade of B from the BBB.

Life Insurance Coverage Offered Through Prudential

Prudential offers term, permanent and other types of life insurance policies.

Many of these policies also offer life insurance riders so that the policy can essentially “customize” the policy to better fit their individual needs.

Term Insurance Coverage

With term life insurance, there is death benefit only coverage. As its name suggests, term insurance is purchased for a set duration, called a term.

Because there’s no cash value or savings build up in a term policy, the premium for this coverage is frequently less than that of a comparable permanent policy (with all other factors being equal).

The level term options that can be purchased through Prudential offer an income tax-free death benefit, as well as premiums that will remain fixed throughout the life of the policy.

Many of these plans will also offer the ability to access the death benefit funds while the insured is still living if he or she has been diagnosed with a terminal illness.

In addition, many of these policies can also be converted over into a permanent form of life insurance without the need for the insured to undergo a medical exam to provide insurability.

There are currently six different term life insurance policies offered by Prudential:

  • MyTerm
  • Term Essential
  • Term Elite
  • PruTerm WorkLife 65
  • PruLife Return of Premium Term
  • PruTerm One

Life Insurance Riders

Prudential currently offers riders to customize your life insurance policy with, these include:

  • Living Needs Benefit
  • Terminal Illness Rider
  • Waiver of Premium
  • Accidental Death Benefit
  • Children’s Protection Rider

Permanent Life Insurance Coverage

A permanent life insurance policy will provide death benefit protection, as well as a cash component that allows funds to grow tax-deferred (and won’t be taxed until they are withdrawn).

Through Prudential, there are several different types of permanent life insurance policies including:

  • Universal Life
  • Indexed Universal Life
  • Variable Universal Life

Universal Life

Universal life offers both permanent protection and flexibility in that the policyholder can – within certain guidelines – alter the premium due date, and can also decide how much of his or her premium dollars go toward the death benefit or the policy’s cash value.

There are four universal life insurance policy options offered by Prudential, including the:

  • PruLife Universal Protector
  • PruLife Essential UL
  • PruLife SUL Protector
  • PruLife Universal Plus

Indexed Universal Life

With an indexed universal life insurance policy, the cash value return is based on the performance of an underlying index which is being tracked, such as the S&P 500.

This can allow the cash value to grow more than that of a regular universal life policy, yet without the worry of loss.

That is because if the underlying index performs poorly in a given time period, the return that is credited is simply a 0%.

Prudential’s indexed universal life policies include:

  • PruLife Founders Plus UL
  • PruLife Index Advantage UL
  • PruLife Survivorship Index UL

Variable Universal Life

Prudential also offers variable life insurance policies. Here, the cash value return is based on underlying equities, such as mutual funds.

In this case, the return can be quite high – or alternatively, there could be losses due to poor market performance.

The variable life insurance options offered by Prudential include the following:

  • VUL Protector
  • PruLife Custom Premier ll
  • PruLife SVUL Protector

Other Products and Services Offered

In addition to life insurance, Prudential also offers numerous other insurance and financial related products and services:

  • Retirement Annuities – These include fixed and variable related annuity products
  • Investments – Prudential offers a wide variety of investments, including mutual funds and other retirement savings vehicles
  • Workplace Benefits – Prudential’s workplace benefits include life insurance, disability insurance, and retirement savings plans

The company also offers financial education. This helps Prudential to create long-term value for its customers.

Get the Best Rates Today

We can also answer any questions that you may have.

The purchase of life insurance can be somewhat confusing – but with an expert on your side, you know you’ll obtain a plan that fits your specific needs.

Please feel free to reach out to us, toll-free, at 1-800-712-8519.

Picture of Doug Mitchell, CLU

Doug Mitchell, CLU

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent close to 30 years in the life insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health. Some other notable items about Doug: Top of the Table Million Dollar Round Table member (MDRT). (MDRT is a global, independent association of the world’s leading life insurance advisors) | Premier Partner with Lincoln Financial and Cabinet Member | Served two years as President of the Auburn/Opelika Association of Financial Advisors | Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award | New York Life, Executive Council Member | Currently serves as President of Ogletree Financial, a life insurance General Agency. | Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

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