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Prudential life insurance review 2021

Last updated:  

18 to 75

Issue Age

$100,000 to $10,000,000

Coverage

Yes

Medical Exam Required

Details

Policies Term, Universal, Indexed Universal, Variable Universal
Coverage maximum $10,000,000
Term lengths 10, 15, 20, 30 years
Medical exam required Yes
Available states All 50 states
Issue age 18 - 75 years old

Pros

  • Range of policy options
  • Possible rate reductions
  • Lenient underwriting guidelines
  • Financial strength

Cons

  • No whole life insurance
  • Lengthy approval process
Riders Accelerated death benefit rider
Accidental death benefit rider
Child rider
Cost-of-living rider
Disability income benefit rider
Estate protection rider
Guaranteed insurability rider
Level term rider
Long-term-care rider
Policy split option rider
Waiver-of-premium rider

Expert review

Roslyn McKenna

Review by


Roslyn McKenna is an insurance publisher for Finder, where she's driven to help people get a great deal on insurance to protect their families and finances. Roslyn earned a BA in writing and communications from Maryville College and has written professionally for more than a decade, showing up on Bankrate, MSN and Reader's Digest.

Expert review

Prudential life insurance offers potentially lenient approvals for wide term and universal life policies. Choose from over 14 policies and add-ons, customizing your policy to fit you and your family.

On the other hand, you’ll have to look elsewhere for whole life insurance since Prudential doesn’t offer it. And while getting a quote takes around 10 minutes, final approval could take up to eight weeks.

Prudential life insurance rates

We pulled these sample quotes for a $500,000, 20-year term policy for a person in good health.

Expect to pay an average of $53 a month if you’re younger than 60 years old. When comparing each age to average rates from other companies, Prudential costs slightly above average.

AgeManWoman
20$38.94$24.94
25$32.38$26.25
30$35.00$28.00
35$35.88$28.88
40$43.32$39.38
45$55.13$53.38
50$87.94$77.00
55$143.50$105.88
60$265.57$182.44

Rates for Prudential are provided by Policygenius and are valid as of June 2020 in all states except New York and Montana.

What factors affect my rate with Prudential?

Prudential offers its best rates to three rate classes—Standard Plus, Preferred Plus and Preferred Best. It sticks to standard criteria across the industry to qualify:

  • Blood pressure. Your blood pressure reads 130/80 maximum if you’re age 49 or under, and 135/85 for ages 50 and above.
  • Cholesterol. Your cholesterol reads under 300 with an HDL ratio under 5 with or without medication.
  • Driving record. You can’t have a DWI or reckless driving violation within five years. Also, you can’t have any license suspensions or more than one moving violation or accident within three years.
  • Family history. Your immediate family history shouldn’t include early death from coronary artery disease, stroke or cancer.
  • Tobacco. You can’t have smoked or used nicotine within five years.

How to get a quote from Prudential life insurance

You can call Prudential life insurance at 800-778-4357, or get the convenience of quoting online:

  1. From Prudential’s life insurance page, click Buy Life Insurance Online and then Get an Instant Quote.
  2. Enter your email address, then answer a few questions about yourself — including your address, gender, birth date and coverage amount.
  3. You’ll be presented with a quote. You can make changes or move forward with the application if you’re happy with the quote.
  4. To apply, select More Info. You’ll see instructions on how to apply with an agent, taking about 10 minutes to complete the process.
  5. You might qualify without a check-up, or you’ll be notified about your acceptance. Coverage starts once Prudential receives your payment.

What types of life insurance does Prudential offer?

Prudential specializes in term and universal life policies, offering a variety of options within those types:

Term life insurance

Available in 10-, 15-, 20- or 30-year lengths with options to convert to permanent life, Prudential offers:

  • Annual renewable term. Convert to a permanent policy within the first five years after buying.
  • Standard term. Offers straightforward coverage up to $500,000 for those ages 18 to 50.

Universal life insurance

These permanent policies build cash value and give policyholders the flexibility to change their premiums, payment schedules and death benefits.

  • Standard universal. This group of universal policies offers flexible premiums and payment schedules but fixed investment options.
  • Survivorship universal. Covers two lives and pays a guaranteed death benefit when the second person insured dies.
  • Indexed universal. Offers flexible premiums and payment schedules, with its accumulating cash value tied to the S&P 500 index.
  • Variable universal. Offers flexible premiums, payment schedules and investment options with higher potential cash value than other policies.

    Read our review on Prudential’s disability insurance

    What riders can I add to my life insurance policy?

    Prudential provides a long list of add-ons to suit you and your family’s life needs:

    • Accelerated death benefit rider. Pays some of your death benefit if you’re diagnosed with a serious or terminal illness.
    • Accidental death benefit rider. Gives an extra death benefit if you die from an accident like a car crash.
    • Child rider. Adds affordable life insurance for your children with the option to convert to permanent life.
    • Cost of living rider. Increases your benefits to account for changes in living costs.
    • Disability income benefit rider. Pays a monthly benefit if you become disabled and can’t work.
    • Estate protection ride. Available on survivorship policies, increases the death benefit up to 100% if both people insured die within four years of purchasing.
    • Guaranteed insurability rider. Add insurance at specific times without getting a medical exam.
    • Level term rider. Your benefit amount stays the same during the term of your policy.
    • Long-term care rider. Pulls money from your death benefit if you’re diagnosed as chronically ill.
    • Policy split option rider. Converts a survivorship policy to an individual policy after events like a divorce.
    • Waiver-of-premium rider. If you become disabled before age 60, Prudential waives your premiums for as long as you’re considered disabled.

    Prudential reviews and complaints

    Prudential Insurance Company of America has been in business for over 140 years, proving its solid financial standing and likely ability to pay claims.

    The Better Business Bureau recorded 145 complaints from 2018 to 2020, many involving billing and its slow claims process. In addition, customer reviews give the company 1 out of 5 stars as of January 2021, well below average for an insurance company of its size.

    Prudential also ranked 11th of 23 insurers surveyed in J.D. Power’s 2020 life insurance study, showing an average customer experience. The company scored 759 of 1,000 points, around the industry average of 763.

    AM Best financial rating A+
    BBB accredited No
    BBB rating Not Rated
    Trustpilot score 1.5/5 out of 33 customer reviews
    JD Power score 759
    Customer reviews verified as of 22 January 2021

    Prudential review: Kelly’s case study

    profile pic

    Kelly Larson
    Editor

    I established my life insurance policy with Prudential through a broker, so I didn’t have any direct contact. They provided the lowest quote for me by far, which was the main reason I went in that direction.

    The in-house medical exam took less than an hour, and I received a Term Essential policy in the mail a week or two later. This may be thanks to the broker I used, but I didn’t have to contend with the lengthy approval process that other customers complain about.

    I didn’t look into this too much during the process of establishing the policy, but Prudential also offers a decent number of add-ons that I’ll likely look into in the future. So far, my policy has done no more and no less than exactly what I need it to do — quietly exist in the background.

    How does Prudential compare to other life insurers?

    Prudential offers a variety of term and universal life policies, including survivorship and indexed universal that you can’t find everywhere and a host of add-ons.

    However, you won’t find whole life insurance here, a common offering with other companies, and Prudential has room to improve its customer experience based on its J.D. Power and BBB ratings.

    Prudential does trend on the pricier side of premiums, with its $500,000, 20-year term policy costing $35 for a healthy, 30-year-old man. The same policy typically costs $25 a month with other companies.

    That said, some customers say they easily lowered rates after buying a policy by improving their health, a benefit for anyone with a less-than-perfect medical exam.

    Compare life insurance companies like Prudential

    Wondering how Prudential stacks up to other companies? Tick the Compare box to see features for up to four companies side by side.

    Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
    Bestow
    18 - 60 years old
    $50,000
    $1,500,000
    10, 15, 20, 25, 30 years
    No
    Get a quote in less than 10 minutes with on-the-spot approval and no medical exam.
    Haven Life
    18 - 64 years old
    $100,000
    $3,000,000
    10, 15, 20, or 30 years
    No exams for some applicants
    Fill out a quick online application and get approval in minutes with up to $3 million in coverage.
    Sproutt
    18 - 100 years old
    $50,000
    $10,000,000
    5, 10, 15, 20, 25 and 30 years
    No
    Compare 40+ insurers and apply online to get the lowest possible price — no medical exam required.
    Ladder
    20 - 60 years old
    $100,000
    $8,000,000
    10, 15, 20, 25 or 30 years
    Depends on policy
    Apply for term life insurance online without the medical exam. Get an instant decision and adjust your coverage at no charge.
    Policygenius
    18 - 85 years old
    $50,000
    $10,000,000
    10, 15, 20, 25, 30 years
    Depends on provider and policy
    Compare 12+ top insurers side-by-side to get the best possible deal, and shop return of premium policies online.
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    Compare up to 4 providers

    Frequently asked questions about Prudential life insurance

    Life insurance ratings

    ★★★★★ — Excellent

    ★★★★★ — Good

    ★★★★★ — Average

    ★★★★★ — Subpar

    ★★★★★ — Poor

    Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry. Prudential receives a three out of five stars for a large number of customer complaints and negative customer reviews.

    Learn more about our methodology here.

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