If you shopping for life insurance and you are considering the Prudential life insurance company. This article will put Prudential under the microscope and answer many of your questions. This will be an in-depth review of the trusted Prudential Life Insurance Company. We will look at everything from their company history, financial strength to the life insurance product line they currently offer.
This is a company you will definitely want to consider. Especially before you get ready to apply for your new life insurance policy.
First of all, take a look at Prudential’s history when the company was first founded
The Prudential Life Insurance Company has been in business for over 141 years. The company has the experience and the expertise to produce some of the most well designed life insurance products.
The company was first founded by a single life insurance agent named John Dryden. This was in Newark New Jersey all the way back in 1875. The company founder actually opened the doors of the would-be behemoth corporation from a small basement office.
America’s working people is what life insurance was originally designed for
The very first life insurance product was specifically designed for working class people. This was to cover the expenses of the funerals and final expenses. In fact, some of the first premiums were as low as three cents per week. In just four short years, the Prudential Insurance Company blossomed out into New York and Philadelphia. By this time the company assets had grown to over $1 million dollars.
John Dryden purchased the one-millionth policy in the year 1885. At this point in time it was clear that the company was destined to become a huge success. Prudential made its mark as an icon in the life insurance industry.
The company now has over 49,000 thousand employees worldwide. Prudential Managed assets now top 1.2 Trillion dollars. You read it right, that is Trillion Not Billion. They now do business in 47 countries around the world. Not bad for a company that started out with one man working out of a basement office.
Prudential term products
An affordable term policy of up to $250,000 with an easy application process. You can choose a level-premium period of 10, 15, 20, or 30 years. This is their most basic plan design for Term life insurance. This plan does not offer an option to convert to permanent Universal Life insurance.
You can choose a level-premium period of 10, 15, 20, or 30 years. Your option to convert is available to the end of the level-premium period or age 65. It was whichever is earlier, but never less than 5 years. The riders available are Accidental Death Benefit. Children Protection Rider, Living Needs Benefit and a Waiver of Premium rider.
You can choose a level-premium period of 10, 15, 20, or 30 years. Available to age 65 or 5 years from issue, whichever is later. Riders available are Accidental Death Benefit, Children Protection Rider, Living Needs Benefit. Also, a Waiver of Premium rider.
PruTerm WorkLife 65
This is life insurance for your working years. The Level-premium period lasts until your age 65. This plan design offers accidental death benefit, child protection and living needs riders.
PruLife Return of Premium Term
This excellent plan design offers the security of low cost term insurance. With a guarantee to have your premiums returned if you outlive the level-premium period. You can choose a level-premium period of 15, 20, or 30 years.
It offers an option to convert which is available to the end of the level-premium period or age 65. Whichever is earlier, but never less than 5 years. This plan also offers a Living Needs Benefit.
This policy offers a benefit where your out-of-pocket premiums are guaranteed to be returned to you. This happens at the end of your level-premium period provided you are still alive and your policy remains in force.
Pru-Term SM One
This is a term life insurance policy for needs that last from 1-5 years at most. This is a stepping stone into permanent insurance. Your coverage lasts one year and is renewable annually up to age 95. The option to convert is available through the 5th policy anniversary. A Living Needs rider is also available.
Explanation of rider benefits
- Accidental Death Benefit – This benefit will pay an additional death benefit if your death is a direct result of an accident.
- Children Protection Rider – This is a great feature that gives you the option to provide life insurance for your children while they are young.
- Living Needs Benefit – If you become terminally ill, this rider will advance a portion of your death benefit. This is to help ease the financial burdens of this time of your life.
- Waiver of Premium – This benefit will pay your premiums so that your coverage can remain in force if you become disabled.
- Benefit Access Rider – This rider will accelerate your policy’s death benefit if you become chronically or terminally ill. In other words, you can receive a percentage of the rider. Before you die for the extra costs that you have while you are ill.
Prudential’s permanent policy designs
PruLife Universal Protector
This plan design provides a death benefit protection for your beneficiaries regardless of when you die. The optional riders include an Accidental Death Benefit, Benefit Access Rider. Also, a Children Level Term Rider, an Enhanced Disability Benefit and a Living Needs Benefit.
PruLife Universal Plus
Life insurance protection with cash value accumulation potential.
PruLife SUL Protector
This Universal Life policy will cover two lives with one policy with guaranteed lifetime of protection.
Prudential can be a great company for people that use tobacco products
Prudential is one of the few companies that will offer a non-smoking rate to someone who:
- Chews tobacco
- Smokes a pipe
- Smokes cigars
- Uses E-Cigarettes
- Uses Nicotine patches or gum
- Periodically uses Marijuana
Prudential Life Insurance is the number one company for high risk life insurance in the US
Prudential has a much more liberal underwriting department that is not as sensitive to pre-existing medical conditions.
Due to the size and financial stability of this company they can afford to insurance people with serious medical conditions. Or have hazardous occupations or dangerous sports they are active in.
Prudential uses your actual age to determine their rates
Using your actual age gives you the advantage of lower rates. If your current age is within 6 months of your next birthday. Most life insurance companies on the market use your “age nearest”. Otherwise known as your insurance age. For example, if you’re 35 years old, but your birthday is within the next 6 months. You would normally be rated at 36. Being rated at your next birthday would increase your rates.
Prudential simply uses your current age which will spell lower premiums. This is one of the advantages of using Prudential. This age difference can make a big difference if you are in your older years when your rates are higher.
Prudential is very good to the men and women of the armed forces
Prudential is the only life insurance company that will sell life insurance to military personnel with active deployment orders. As long as the application is taken in the United States and accepted in the United States. Prudential will take them as a normal everyday applicant. This is a great advantage for the members of the armed forces. Especially who want to buy life insurance and are going off to war. We definitely take our hats off to Prudential for doing this.
Prudential offers some of the best life insurance rates
Prudential also has a very liberal height and weight build chart. They also work out very well with folks who have medical conditions. Such as Diabetes, Prostate Cancer and people that currently have very recent Driving While Intoxicated convictions.
They work out very well for hazardous sports and dangerous occupations. Such as Pilots, Scuba Divers, Drag Racers, Skydivers, Motorcycle Racers, Iron Workers. Also, Helicopter Pilots, Racing Boat Drivers, Stock Car Racers etc.
Use our free quoting system to compare companies and view their rates
Feel free to use our consumer quoting tool. Just complete the form on the right to compare plans from over 40 trusted life insurance companies. Our quoting system includes the excellent individual life insurance plan designs from the Prudential Life Insurance company. You can receive instant life insurance quotes. We use many different insurance companies. We use the most applicable company for each applicant’s specific application information. If you need help choosing a face amount, feel free to use our death benefit calculator.
Our final thoughts on the Prudential Life insurance company
We use over 40 different life insurance companies and Prudential is an important member of our team of companies. Their huge product line, liberal underwriting department and excellent financial stability. Make them an excellent choice for many people. They also have a reputable name in the industry and have become a household word from coast to coast. If you are planning on purchasing life insurance, Prudential Life Insurance is definitely going to be a great choice.
Where can you find Prudentials rates?
If you are looking to find the best life insurance such as Prudential, we have you covered. Our agency works with more than 40 of the highest rated life insurance companies to make sure our clients don’t spend a dime more that they have to. There is never any cost to apply, the life insurance companies pay all costs. Our service to you is always free and with no obligation to buy anything.
We are here 7 days a week 9:00am – 9:pm to help you find your best options. We will guide you through the complete process from start to finish. Don’t hesitate to grab your phone and give us a call today. Complete the form on the right and compare instant life insurance rates from over 40 companies side-by-side.
All the best,