Prudential life insurance review 2020
Score customized coverage and competitive pricing thanks to this insurer's diverse product lineup.
finder.com's rating: 3 / 5
Bottom line: Prudential offers comprehensive term or universal life policies, but you can’t get whole life, and the approval process could take weeks.
18 to 75
$100,000 to $10,000,000
Medical Exam Required
|Free quote||Online, Phone|
|Policies||Term, Universal, Indexed Universal, Variable Universal|
|Term lengths||10, 15, 20, 30 years|
|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|
|Medical exam required||Yes|
|Available states||All 50 states|
|Issue age||18 - 75 years old|
- 4 term life and 10 universal life policies
- Possible rate reductions after quitting smoking
- Lenient underwriting guidelines if you’re older than 60, have a DUI or don’t have perfect health
- No whole life insurance
- Lengthy approval process up to eight weeks if you don’t choose expedited approval
Julia Cameron is a writer and editor who has experience in finance, mergers and acquisitions, content marketing and immigration law. She has a passion for interior design and an affinity for Old Florida, where she lives with her family.
Prudential is a solid choice for term and universal life insurance with the financial standing to offer competitive rates and potentially lenient underwriting guidelines, depending on your health and lifestyle.
But if you’re in the market for a whole life product, you’ll have to look elsewhere. And while the quoting process takes around 10 minutes, getting final approval could take up to eight weeks.
Prudential life insurance rates
To get an idea of what you might pay, we pulled sample quotes for a $250,000, 20-year term policy for a person in good health. Expect to pay an average of $52 a month, depending on your age, health and other factors.
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’s underwriting includes a range of rates based on your health and lifestyle. The best rates fall under three classes: Standard Plus, Preferred Plus and Preferred Best.
To get the lowest rates, you must meet the specific eligibility in several categories:
- Blood pressure. Your blood pressure can be up to 130/80 if you’re at or under age 49 and 135/85 for ages 50 and up.
- Cholesterol. Your cholesterol should be under 300 with an HDL ratio of 5 or less, with or without medication.
- Driving record. You shouldn’t have a DWI or reckless driving violation in the past five years. Also, you shouldn’t have any license suspensions or more than one moving violation or car accident in the past three years.
- Family history. Your immediate family medical history shouldn’t include early death from coronary artery disease, stroke, cancer or other similar diseases.
- Tobacco. You can’t have smoked or used nicotine in the past five years.
Talk to a Prudential representative to learn more about Standard Plus and Preferred Plus rate eligibility.
Compare life insurance ratesCompare quotes for life insurance policies starting at $15/month.
How to apply for Prudential life insurance
- From Prudential’s life insurance page, click Buy Life Insurance Online and then Get an Instant Quote.
- Enter your email address, then answer a few questions about yourself — including your address, state, gender, birthdate, height and weight, nicotine use, and coverage term and amount.
- You’ll then be presented with a quote. You can make changes or proceed with the application process if you’re happy with the quote. To apply, click More Info. You’ll be given instructions on how to apply with an agent. It takes about 10 minutes to complete the quote process.
- Depending on your medical history, you might qualify without a check-up.
- You’ll be notified of your acceptance status, and coverage will take effect once Prudential receives payment for your first premium.
What types of life insurance does Prudential offer?
Prudential specializes in term and universal life insurance, offering a range of options to cater to individual needs.
Term life insurance
Available in 10-, 15-, 20- or 30-year lengths, with the option to convert to permanent life. Prudential has four main types of term life policies:
- PruTerm One. An annual renewable term policy that you can convert to a permanent policy within the first five years.
- Simply term. If you’re between ages 18 and 50, this policy offers simple coverage up to $500,000.
- Term Essential. These standard term policies offer tax-free payouts, an accelerated death benefit and the option to convert to a permanent policy.
- Term Elite. A step up from Term Essential, this policy offers added perks. For example, if you convert this policy to permanent coverage within the first five years, you can get a first-year premium credit towards your permanent policy.
Universal life insurance
These permanent policies build cash value and give policyholders the flexibility to change their premiums, payment schedules and death benefits.
This group of universal policies offers flexible premiums and payment schedules but fixed investment options.
- Essential UL. Lifetime coverage with access to optional living benefits.
- SUL Protector. Covers two lives and pays a guaranteed death benefit when the second person insured dies.
- Universal Plus. Cash value growth with access to policy loans and withdrawals.
- Universal Protector. Lifetime coverage and a guaranteed death benefit.
Indexed policies offer flexible premiums and payment schedules, with its accumulating cash value tied to the S&P 500 index.
- Index Advantage UL. Offers the greatest potential to build cash value.
- Founders Plus UL. Provides a no-lapse guarantee and payout even if your cash value drops to $0.
- Survivorship Index UL. Covers two people and pays the death benefit after both people insured die.
Variable policies offer flexible premiums, payment schedules and investment options with higher potential cash value than other policies.
- Custom Premier II. No-lapse guarantee periods and higher risk for potentially higher returns.
- SVUL Protector. No-lapse guarantee coverage for two people.
- VUL Protector. Ideal for moderate risk with a no-lapse guarantee.
What riders can I add to my life insurance policy?
Like most insurers, Prudential extends a selection of add-ons to suit you and your family’s life circumstances, including:
- Accelerated death benefit rider. Lets you access some of your death benefit if you’re diagnosed with a serious or terminal illness.
- Accidental death benefit rider. Provides an extra death benefit if you die from an accident, like a car accident.
- Child rider. Get affordable life insurance for your children and the option to convert to a permanent policy in the future.
- Cost-of-living rider. This rider increases your benefits to account for the change in the cost of living over time.
- Disability income benefit rider. Pays out a monthly benefit if you become disabled and can no long work.
- Estate protection rider. Available on survivorship policies, this benefit increases the death benefit up to 100% if both of the people insured die within four years of purchasing.
- Guaranteed insurability rider. Allows you to purchase additional insurance at specified dates without having to take a medical exam.
- Level term rider. Makes sure your benefit amount stays the same during the term of your policy.
- Long-term-care rider. Allows you to pull money from your death benefit if you’re diagnosed as chronically ill.
- Policy split option rider. Allows you to convert a survivorship policy into an individual policy after a specified event, like a divorce.
- Waiver-of-premium rider. If you become disabled before your 60th birthday, Prudential will waive your premiums for as long as you’re considered disabled.
Prudential reviews and complaints
Prudential Insurance Company of America isn’t accredited by the Better Business Bureau. The BBB records nearly 125 complaints since 2017, many of which had to do with billing and the slow claims process. Customers give the company one out of five stars as of October 2020.
In J.D. Power’s latest life insurance study, Prudential ranked 11th of 24 insurers surveyed — showing a good record for customer satisfaction.
Prudential review: Kelly’s case study
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.
Compare life insurance companies like Prudential
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Frequently asked questions about Prudential life insurance
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