• Written by
    Lindsey Crossmier

    Lindsey Crossmier

    Financial Writer

    Lindsey Crossmier is an accomplished writer with experience working for The Florida Review and Bookstar PR. As a financial writer, she covers Medicare, life insurance and dental insurance topics for RetireGuide. Research-based data drives her work.

    Read More
  • Edited By
    Lamia Chowdhury
    Lamia Chowdhury, editor for RetireGuide.com

    Lamia Chowdhury

    Financial Editor

    Lamia Chowdhury is a financial content editor for RetireGuide and has over three years of marketing experience in the finance industry. She has written copy for both digital and print pieces ranging from blogs, radio scripts and search ads to billboards, brochures, mailers and more.

    Read More
  • Reviewed By
    Eric Estevez
    Eric Estevez, Independent Licensed Life Insurance Agent

    Eric Estevez

    Owner of HLC Insurance Broker, LLC

    Eric Estevez is a duly licensed independent insurance broker and a former financial institution auditor with more than a decade of professional experience. He has specialized in federal, state and local compliance for both large and small businesses.

    Read More
  • Published: November 18, 2022
  • Updated: May 3, 2023
  • 7 min read time
  • This page features 22 Cited Research Articles
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How to Cite RetireGuide.com's Article

APA Crossmier, L. (2023, May 3). Prudential Life Insurance. RetireGuide.com. Retrieved November 18, 2024, from https://www.retireguide.com/life-insurance/companies/prudential-life-insurance/

MLA Crossmier, Lindsey. "Prudential Life Insurance." RetireGuide.com, 3 May 2023, https://www.retireguide.com/life-insurance/companies/prudential-life-insurance/.

Chicago Crossmier, Lindsey. "Prudential Life Insurance." RetireGuide.com. Last modified May 3, 2023. https://www.retireguide.com/life-insurance/companies/prudential-life-insurance/.

About Prudential Life Insurance

Prudential Financial has been providing financial products and services to customers for over 145 years. As of August 2022, Prudential has $1.41 trillion assets under management.

Prudential has a U.S. Individual Life & Group Insurance Division — which has operations in Asia, Europe and Latin America — and an International Insurance Division, which distributes insurance policies through markets in Japan, Korea and other foreign countries.

You can purchase a wide range of financial products and policies from Prudential, such as life insurance, health insurance and annuities. Prudential’s individual life insurance policies have made $155 million in sales in late 2022.

Prudential is a well known and trusted company in the industry. All public insurance ratings suggest this to be true.

Ratings for Prudential Life Insurance

AM Best and Fitch Ratings provide ratings for life insurance companies that test the company’s financial strength and ability to meet financial commitments. Prudential has a relatively high rating, meaning you can likely trust the company to pay out life insurance policies in a timely manner.

Prudential Financial Ratings
Fitch RatingsAA- (Stable)
AM BestA+ (Superior)

Prudential Life Insurance Policies

Prudential offers term, universal, indexed universal and variable universal life insurance. Prudential doesn’t currently offer whole life policies. There are 11 different types of life insurance policies available from Prudential.

Life Insurance Policies Offered by Prudential
TermUniversalIndexed UniversalVariable Universal
  • Prudential SimplyTerm
  • Prudential Term Essential
  • Prudential PruTerm One
  • Prudential PruLife Essential UL
  • Prudential PruLife SUL Protector
  • Prudential PruLife Founders Plus UL
  • Prudential PruLife Index Advantage UL
  • Prudential PruLife Survivorship Index UL
  • Prudential VUL Protector policy
  • Prudential PruLife Custom Premier II
  • Prudential PruLife
  • SVUL Protector plan

You should always compare life insurance policies when determining which to purchase. You should also account for how much life insurance coverage you need. Some policies have coverage limits or are simply more affordable in the long run.

A term policy, for instance, is more affordable than most universal policies according to the National Association of Insurance Commissioners. For example, a term policy with a $500,000 death benefit is typically going to be more affordable than a universal policy with the same amount of coverage.

Prudential Term Life Policies

Your premiums for all Prudential term life insurance policies — SimplyTerm, Term Essential and PruTerm One — are level. This means, your premiums stay the same while your policy is active.

One unique quality of Prudential term policies is the flexible payment schedule. While term policies are charged monthly, your payment schedule can be monthly, quarterly, bi-annually or annually.

Did You Know?
All Prudential term policies can be converted into any permanent life insurance policy without needing a new medical exam.
Source: Prudential Financial

The face value and age limits vary depending on which term policy you choose. Some policies even come with free riders. Learning more about each of Prudential’s term policies can help you decide which would suit your financial and lifestyle needs.

Prudential Term Life Insurance Comparison Chart
Type of Term PolicyTerm Lengths AvailableFree Riders IncludedFace Amount Limits
SimplyTerm10-, 15-, 20- or 30-year term lengthsTerminal Illness Rider$100,000–$1 million
Term Essential10-, 15-, 20- or 30-year term lengthsLiving Needs Benefit$100,000–$1 million
PruTerm One1 year (renewable)Living Needs Benefit$50,000–$10,000,000*
Source:

*Minimum face value will increase to $250,000 if you’re over 76 years old.

Prudential Universal Life Insurance Policies

Prudential offers two universal life insurance policies — PruLife Essential UL and PruLifeSUL Protector — that both offer lifelong coverage. You can build cash value with each universal policy, with a portion of the monthly premiums earning fixed interest.

The premiums are flexible, meaning, you can adjust the amount and when to make payments.

Face value limits and age restrictions vary depending on which type of universal policy you’re considering. Understanding each type can help you determine if one of Prudential’s universal policies suit your needs better than the other.

Prudential Universal Life Insurance Comparison Chart
Type of Universal PolicyNo Lapse GuaranteeFree RiderAge Issue Limits
PruLife Essential ULYesLiving Needs Benefit0–90
PruLife SUL ProtectorYesGuaranteed Policy Split Rider18–85

The PruLife SUL Protector policy is unique compared to other universal policies. The PruLife Sul Protector policy offers a death benefit that covers two individuals, with a death benefit payable upon the death of the second insured.

The other noteworthy feature is the Guaranteed Policy Split Rider. This rider allows the policy to be split into two individual policies if the insured individuals get divorced.

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Prudential Indexed Universal Life Insurance Policies

Prudential offers three indexed universal life insurance policies — PruLife Founders Plus UL, PruLife Index Advantage UL and PruLife Survivorship Index UL. All policies have lifelong coverage with cash value that builds tax-deferred interest that is credited to an indexed account’s performance. You can access the death benefit while you are still alive.

Each indexed account has a minimum cresting rate of 0%, and the maximum crediting rate varies by policy. The riders you customize with each indexed universal life policy also varies depending on which policy you choose.

Prudential Indexed Universal Life Insurance Comparison Chart
Type of Indexed Universal PolicyAccount OptionsFree RiderRate Setting Options
PruLife Founders Plus UL
  • Fixed account option
  • Plus account option
Living Needs BenefitRate can be set by company and/or S&P 500 growth
PruLife Index Advantage UL
  • Standard indexed account
  • Indexed account with multiplier
  • Uncapped indexed account
Living Needs BenefitVaries
PruLife Survivorship Index UL
  • Standard indexed account
  • Indexed account with multiplier
  • Uncapped indexed account
Guaranteed Policy Split RiderVaries

Prudential Variable Universal Life Insurance Policies

Prudential offers three variable universal life policies — the VUL Protector, PruLife Custom Premier II and PruLife SVUL Protector. All of Prudential’s variable universal policies have lifelong coverage with tax-deferred cash value. You can access your cash value while you’re still alive.

Your cash value grows by being placed into underlying investment options, like bonds and money market portfolios. Prudential includes free riders and different investment options with each variable universal policy type.

Prudential Variable Universal Life Insurance Comparison Chart
Type of Variable Universal PolicyInvestment OptionsDeath Benefit OptionsFree Rider
VUL ProtectorAsset allocation, bond/index funds, money market or fixed rateFixed or variable
  • Living Needs Benefit
PruLife Custom Premier IIEquity, fixed income/bond, asset allocation or fixed accountFixed, variable or return of premium
  • S&P 500 Indexed Account Rider
  • Living Needs Benefit
PruLife SVUL ProtectorFixed rate along with over 50 other investment optionsFixed, variable or return of premium
  • Guaranteed Policy Split Rider

Average Cost of Prudential Life Insurance

The cost for a life insurance policy from Prudential ranges depending on what type of policy type you choose, your overall health, age and the coverage you need. If you’re young and healthy, Prudential will likely have average prices compared to competitors.

For example, Prudential has similar prices compared to State Farm for a 30-year term policy.

Estimated Cost for a 30-Year Term Policy with $250,000 of Coverage
Life Insurance CompanyEstimated Monthly Premium
Prudential$17.12
State Farm$19.14

*Premium quote is based on a 25-year-old woman looking for coverage.

If you need a higher coverage amount, expect your premium quote to be higher. The table below shows average Prudential costs for $1 million of coverage, along with age increases.

Cost for 20-Year Term Policy from Prudential
AgeFemaleMale
35$80.06$102.81
45$143.06$187.69
55$318.06$440.56
65$977.81$1,471.31
Source: U.S. News

*Quotes are based on a 20-year Term policy with $1 million in coverage

Prudential doesn’t have quotes for their universal policies online. You will have to contact one of their representatives to confirm average costs or receive a personalized quote.

Pros and Cons of Prudential Life Insurance

Prudential is a trusted company that has been around for over 150 years and they have a variety of policies with free add-on riders. Prudential also has decent ratings from numerous credit rating agencies.

However, Prudential does not have a whole life policy available. According to the Insurance Information Institute, whole life is the most popular type of permanent life insurance. Not having whole life policies available limits their customers’ options.

Prudential also lacks easy access to quotes online. The only type of policies you can get an estimated premium quote for is the term policies.

Pros and Cons
Pros
  • Options for free riders
  • Offers term and universal policies
  • Average premium quotes
  • High ratings from AM Best and Fitch Ratings
  • Quick business response rate (99%) on the Better Business Bureau
Cons
  • No way to confirm universal premium rates online
  • No discounts for bundling insurance products
  • Doesn’t offer whole life policies
Last Modified: May 3, 2023
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Lindsey Crossmier Financial Writer
Lindsey Crossmier joined the RetireGuide team in 2022 as a writer to promote long-lasting financial literacy. She leverages her creative writing background, editorial experience and financial education from Yale to write retirement-focused financial content for those ready to prepare for their futures. Making complex information simple and accessible for all is her specialty.
  • Special focus on content about life insurance, Social Security, Medicare and certificates of deposits (CDs)
  • Research-based data drives her work
  • Bachelor’s degree in English from the University of Central Florida
Edited By
Lamia Chowdhury, editor for RetireGuide.com
Lamia Chowdhury Financial Editor
Reviewed By
Eric Estevez, Independent Licensed Life Insurance Agent
Eric Estevez Owner of HLC Insurance Broker, LLC

22 Cited Research Articles

  1. Prudential. (2022, October 5). Your Personalized SimplyTerm Quote. Retrieved from https://term.prudential.com/life?token=583466011-LVkU2zfiy4WMSAp2_85NC23yEBNYxPz3yuy7LqsM-gZKsbyN4szasysevsyavK8c#life_pbp/Life_Pbp_Results
  2. Prudential. (2022, August 2). Prudential Financial, Inc. Announces Second Quarter 2022 Results. Retrieved from https://news.prudential.com/prudential-financial-inc-announces-second-quarter-2022-results.htm
  3. Prudential. (2022, August). Prudential Financial Fact Sheet. Retrieved from https://news.prudential.com/presskits/prudential-financial-fact-sheet.htm?_its
  4. Prudential. (2022, August). PruLife Survivorship Index UL. Retrieved from https://prudential.assetserv.com/prudential/download/file?assetId=8267353
  5. Prudential. (2022, July). PruLife Custom Premier II. Retrieved from https://prudential.assetserv.com/prudential/download/file?assetId=8267325
  6. National Association of Insurance Commissioners. (2022, June 23). Life Insurance. Retrieved from https://content.naic.org/cipr-topics/life-insurance
  7. Prudential. (2022, June). PruLife SUL Protector. Retrieved from https://prudential.assetserv.com/prudential/download/file?assetId=8268886
  8. Fitch Ratings. (2022, April 29). Fitch Affirms Prudential Financials’ Ratings; Outlook Stable. Retrieved from https://www.fitchratings.com/research/insurance/fitch-affirms-prudential-financial-ratings-outlook-stable-29-04-2022
  9. Prudential. (2022, April). PruLife Founders Plus UL. Retrieved from https://prudential.assetserv.com/prudential/download/file?assetId=8273784
  10. Threewitt, C., & Warren, K. (2022, January 6). Prudential Life Insurance Review. Retrieved from https://www.usnews.com/insurance/life-insurance/prudential
  11. Prudential. (2022, January). PruTerm One. Retrieved from https://prudential.assetserv.com/prudential/download/file?assetId=8267369&external=true
  12. Insurance Information Institute. (2022). What Are the Different Types of Permanent Life Insurance Policies? Retrieved from https://www.iii.org/article/what-are-different-types-permanent-life-insurance-policies
  13. AM Best. (2021, December 2). AM Best Affirms Credit Ratings of Prudential Financial, Inc. and Its Life/Health Subsidiaries. Retrieved from https://news.ambest.com/presscontent.aspx?refnum=31489&altsrc=9
  14. Prudential. (2021, December). VUL Protector. Retrieved from https://prudential.assetserv.com/prudential/download/file?assetId=8269013&external=true
  15. Prudential. (2021, November). Term Essential. Retrieved from https://prudential.assetserv.com/prudential/download/file?assetId=8267429&external=true
  16. Prudential. (2021, August). PruLife SVUL Protector. Retrieved from https://www.prudential.com/personal/life-insurance
  17. Prudential. (2021, January). PruLife Essential UL. Retrieved from https://prudential.assetserv.com/prudential/download/file?assetId=8267673
  18. Prudential. (2018, January 15). PruLife Index Advantage UL. Retrieved from http://lifeinsurance.prudential.com/media/managed/iliconsumer/PruLife_Index_Advantage_UL.pdf
  19. Prudential. (n.d.). Our Purpose. Retrieved from https://www.prudential.com/about
  20. Prudential. (n.d.). SimplyTerm. Retrieved from https://www.prudential.com/wps/wcm/connect/adba01ec-44ec-4aff-bb16-bf70e01d529d/SimplyTerm_Consumer_One_Pager.pdf?MOD=AJPERES&CVID=nv9lDtu
  21. Prudential. (n.d.). What does Term Life Insurance Cover? Retrieved from https://www.prudential.com/personal/life-insurance/find-life-insurance-policy/term-life-products/
  22. State Farm. (n.d.). Term Life an Affordable Option. Retrieved from https://www.statefarm.com/insurance/life/term-life