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Prudential life insurance review 2020

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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

Issue Age

$100,000 to $10,000,000

Coverage

Yes

Medical Exam Required

Details

Free quote Online, Phone
Monthly cost $15.97/month
Policies Term, Universal, Indexed Universal, Variable Universal
Coverage maximum $10,000,000
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

Pros

  • 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

Cons

  • No whole life insurance
  • Lengthy approval process up to eight weeks if you don’t choose expedited approval

Expert review

Julia Cameron

Review by


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.

Expert review

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.

Best of 2020
Finder experts pick Prudential as a 2020 best brand for life insurance.

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.

Age Male Female
20 $22.75 $15.97
25 $19.47 $16.63
30 $20.78 $17.50
35 $21.22 $17.94
40 $24.94 $22.97
45 $30.62 $29.75
50 $46.59 $41.13
55 $73.50 $55.13
60 $132.78 $92.31
65 $249.81 $160.13

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 rates

Compare quotes for life insurance policies starting at $15/month.

How to apply for Prudential life insurance

  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, state, gender, birthdate, height and weight, nicotine use, and coverage term and amount.
  3. 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.
  4. Depending on your medical history, you might qualify without a check-up.
  5. 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.

Standard universal

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 universal

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 universal

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.

Read our review on Prudential’s disability insurance

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.
Get quotes for similar brands from Policygenius

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

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.

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
Prudential
18 - 75 years old
$100,000
$10,000,000
10, 15, 20, 30 years
Yes
Customize your term life insurance with a long list of life and disability riders. Get a free quote on Policygenius.
Transamerica
18 - 75 years old
$25,000
$10,000,000
10, 15, 20, 25, 30 years
Depends on policy
Purchase a policy worth anywhere from $25,000 to $10 million, with the option to skip the medical exam. Get a free quote on Policygenius.
MassMutual
18 - 80 years old
$2,000
$10,000,000
10, 15, 20, 25, 30 years
Depends on policy
Purchase term life insurance up to age 80 with Finder's #1 ranked company. Get a free quote from this A+ rated insurer on Policygenius.
AIG
AIG
20 - 85 years old
$5,000
$2,000,000
10, 15, 20, 25, 30, 35 years
Yes
Buy term life insurance all the way up to age 85, and choose a policy that lasts up to an incredible 35 years. Get a free quote on Policygenius.
John Hancock
18 - 65 years old
$25,000
$1,000,000
10, 15, 20 years
Depends on policy
Score a low rate on term life insurance with discounts and rewards for your healthy habits. Get a free quote on Policygenius.
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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.

Learn more about our methodology here.

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6 Comments

  1. Default Gravatar
    Alice
    December 18, 2018

    Hi
    I just heard that prudential life got bankruptcy. I made already a full payment with my insurance last 2009. I want to know if I can claim a refund of payment? Please reply
    Thanks

    • Avatarfinder Customer Care
      Val
      December 20, 2018

      Hi Alice,

      Thank you for reaching out to finder! It seems that the filing for a claim with Prudential life insurance has already lapsed last September 12,2018. You may need to contact them directly for inquiries. Please call (02) 523-8461to 70 Loc. Or (02) 354-0991 or email crl@insurance. gov. ph.

      Thanks!
      Val

  2. Default Gravatar
    Immaculada
    September 20, 2018

    Good day po nag avail po ako ng burial plans sa Prudentiallife Plans,Inc.
    2009 Ang full payment Ko. I heard na bankcrupt po Ang Prudential. Gusto Ko po malaman Kung pude makuha yong ibinayad Ko. Please give me some insight about this
    Thank you very much

    • Avatarfinder Customer Care
      johnbasanes
      September 21, 2018

      Hi Immaculada,

      Thank you for leaving a question.

      It seems that the filing for a claim refund with Prudential life insurance has already lapsed last September 12,2018. You may need to contact them directly for inquiries. Please call (02) 523-8461to 70 Loc. Or (02) 354-0991 or email crl@insurance. gov. ph. Hope this helps!

      Cheers,
      Reggie

  3. Default Gravatar
    Mary
    July 29, 2018

    Can I borrow from a term life policy?

    • Avatarfinder Customer Care
      Jhez
      July 31, 2018

      Hello Mary,

      Thank you for your comment.

      The possibility of borrowing from a life insurance policy depends on the type of policy. You can borrow money from life insurance, that has a cash account for use, while the insured is alive. Only permanent life insurance has a cash value account, which means you can borrow against this while you cannot borrow against a term life insurance because it does not include a cash value account.

      You can get more details about this when you discuss this with your insurer.

      Regards,
      Jhezelyn

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