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Expert COMPANY reviewS

Prudential LIFE INSURANCE REVIEW- Pros & Cons, FAQ's

We offer free Prudential quotes on LISR, along with comparisons to 30+ top rated companies

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Overview:  Prudential Life Insurance is one of the largest life insurance companies in the US.  They offer term life and universal life insurance policies that let you add extra features to customize your coverage.

Here’s What You Need to Know About Prudential Life Insurance

Prudential Life insurance is a well-known life insurance company with term life and universal life insurance policies. They also offer health insurance products and provide financial planning.

  • pros & cons

  • insurance types

  • who is a good fit?

pros & cons of Prudential life insurance

Pros

  • Highly rated company with sound financial backing.
  • Robust online tools and resources available to policyholders.
  • Offers a large selection of term and universal life insurance policies.
  • Uses your actual birthday to calculate your age instead of age nearest birthday (makes you a year older 6 months before your birthday).  This can often times lead to a better price compared to other leading carriers.
  • Less underwriting requirements to get approved versus other leading carriers.  Prudential does not require a treadmill ECG, MD exams, or inspection reports on larger policies.
  • Prudential will often times approve Non-Smoker Plus underwriting class for applicants who would otherwise be approved Standard at other leading life insurance carriers.
  • Better prices for overweight people versus other leading carriers – especially for women.
  • Better prices for well controlled diabetics versus other leading carriers.
  • Favorable underwriting for cigars, pipe, and chewing tobacco.
  • Better prices for overweight people versus other leading carriers – especially for women.
  • Better prices for overweight people versus other leading carriers – especially for women.

Cons

  • Online quotes aren’t available for all policies.
  • Medical history is required, which can highlight health conditions.
  • Premiums can be higher than average for people in good health.
  • Fewer options for non-medical life insurance versus other leading carriers.
  • Preferred Plus rates are not as competitive as other leading carriers.

How is Prudential Life Insurance Different?

Prudential Life got its start in 1875 and remains one of the largest life insurance providers today. 

They offer various options for both term and universal life insurance, with the ability to customize your policy with extra features and riders. 

The company has been on Fortune magazine’s Change the World list for the second year in a row, recognizing Prudential’s commitment to creating a meaningful and lasting impact on the human condition. 

They were also among the top ten companies on Fortune’s Change the World Sustainability All-Stars list.

They serve over 3.7 million customers and can offer excellent rates for people with complicated medical histories.

Prudential prides itself on providing financial education, including having representatives available to answer your questions and help you select the right policy.

LIFE INSURANCE MADE EASY

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What types of insurance can you purchase from Prudential Life Insurance?

Prudential TERM Life Insurance ESSENTIAL

Prudential's Most competitive, least expensive term life insurance product.

Level Term Period: 10, 15, 20, and 30 years.

Premium Guarantees: Guaranteed not to increase during the level premium period after which the premiums will increase annually.  Prudential has the right to change these annually increasing premium 1 x / year but can not raise them above the maximum premium schedule that is listed in the policy.

Face Amount: $100,000 and up

Issue Ages:

  • 10 Year: 18-75
  • 15 Year: 18-70
  • 20 Year: 18-65 Non Smoker | 18-60 Smoker
  • 30 Year: 18-50 Non Smoker | 18-45 Smoker

Prudential Underwriting Categories:

  • Preferred Best
  • Preferred Non-Smoker
  • Non-Smoker Plus
  • Non-Smoker
  • Preferred Smoker
  • Smoker
  • Substandard Rating Classes A to H

See our top alternatives to Prudential Life Insurance 

Premium Paying Period: Once the level period ends, the premiums increase annually for the remainder of the policy which ends at age 95.   The annually increasing premiums are not guaranteed but will not exceed the maximum premium schedule listed in the policy.

Conversion Options: Convertible till the end of the term period or to the first policy anniversary after your 65th birthday, which ever comes first.  You can convert all or part of your Term Essential policy to one of Prudential’s permanent life insurance.

Conversion Premium Credit:  Not Available


What is Prudential SimplyTerm Insurance? 

  • Term Essential Life with possible Accelerated Underwriting.  (Not everyone will qualify)
  • Can only be bought online
  • Policies issued in days
  • Issue ages: 18 to 50
  • Benefit Amount $50,000 to $500,000
  • Level Term Period: 10, 20, or 30 years

Some applicants will be able to apply for coverage online without the need for a medical exam. 

Once the online quote form is completed, you will be contacted by a Prudential representative, or an independent life insurance agent from an agency like Assurance IQ or AccuQuote who will help you complete an application over the phone.

Once the application is complete, Prudential SimplyTerm uses Accelerated Underwriting. 

This may or may not require a medical exam.  Weather or not you have to take a medical exam is determined by answering a series of detailed health and lifestyle questions.  

In addition to the questions and possible medical exam,  Prudential will also check things like the prescription data base, the medical information bureau (MIB),  motor vehicle report,  credit report, criminal report etc. before you are approved.

Prudential SimplyTerm is not an actual life insurance product.  It just a simplified way of purchasing Term Essential by using your computer or mobile device.  

Always remember, many people will not qualify for accelerated underwriting and will have go through full underwriting to qualify.


TERM ELITE

Level Term Period: 10, 15, 20, and 30 years.

Premium Guarantees: Premiums are guaranteed both during and after the level period.

Face Amount: $1,000,000 and up

Issue Ages:

  • 10 Year: 18-75
  • 15 Year: 18-70
  • 20 Year: 18-65 Non Smoker | 18-60 Smoker
  • 30 Year: 18-50 Non Smoker | 18-45 Smoker

Underwriting Categories:

  • Preferred Best
  • Preferred Non-Smoker
  • Non-Smoker Plus
  • Non-Smoker
  • Preferred Smoker
  • Smoker
  • Substandard Rating Classes A to H

Premium Paying Period: Once the level period ends, premiums increase annually for the remainder of the policy which ends at age 95.   The annually increasing premiums are guaranteed in writing in the policy and can not be raised by Prudential.

Conversion Options: Convertible till the end of the term period or to the first policy anniversary after your 65th birthday, which ever comes first.  You can convert all or part of your Term Elite policy to one of Prudential’s permanent life insurance.

Conversion Premium Credit: Prudential will credit a portion of your term premiums you paid if you convert your Term Elite policy to a new permanent life insurance policy with in the first 5 years.

Available Life Insurance Riders On Both Term Essential and Term Elite

Living Needs Benefit Rider – Gives access to the death benefit while you are alive if you are diagnosed with a terminal illness, confined to a nursing home or need a vital organ transplant.  There is no charge for the Living Needs Benefit.   NOTE:  This benefit is not nursing home or long term care insurance.

Wavier of Premium Rider –  Waives the premium if you become disabled and are unable to work.

Children’s Protection Rider – Allows you to buy inexpensive life insurance on your children.

Accidental Death Benefit Rider – Pays an additional death benefit, sometime double the amount, if you die in an accident.  Your death certificate must list accidental death as the cause of death in order to get the additional death benefit.

See our top alternatives to Prudential Life Insurance 


UNIVERSAL LIFE

PRULIFE ESSENTIAL UNIVERSAL LIFE 

PruLife Essential Universal Life Insurance (Essential UL) is a flexible premium adjustable life insurance policy that offers:

  • Life time protection
  • No-lapse guarantees
  • Fixed Interest Rate on the cash value

Reasons to own PruLife Essential UL

  • Competitively priced permanent life insurance.
  • Benefit Access Rider –  (optional) – “accelerates” (pays out a portion of the death benefit before you actual die) if you become chronically or terminally ill.
  • Estate planning – For example funding a special needs trust upon death, etc.
  • Wealth transfer – Leverage your current dollars and provide your beneficiary with a great return on investment plus the money is income tax free when your beneficiary receives it.

Underwriting Categories:

  • Preferred Best
  • Preferred Non-Tobacco
  • Non-Smoker Plus
  • Non-Smoker
  • Preferred Smoker
  • Smoker

Issue Ages: 0 To 90

Available Riders / Benefits:

  • Accidental Death Benefit
  • Children Level Term Rider
  • Benefit Access Rider
  • Wavier of Monthly Deductions
  • Living Needs Benefit (no cost)

What is a No Lapse Guarantee (NLG)?

Provides a guarantee that the policy will not lapse assuming the contract has sufficient cash value.  You can adjust the timing of the NLG by the amount of premium you pay.  

For example, a NLG to age 90 will be less expensive than a NLG to age 121.  

 Basically, the more premium you pay, the longer the guarantee will last.  

Also if you do any of the following it will have an effect in how long the NLG lasts:

  • skip premiums or change the timing of your scheduled premium
  • change the amount of coverage
  • take out policy loans or withdraws,  etc.

Basically, if you are looking to keep the policy guaranteed to not lapse for a certain period of time, always pay the scheduled premiums on time and do not alter the policy or remove any of the cash value.

To get sample quotes for...

  • Prudential Term Essential Life Insurance
  • Prudential Term Elite Life Insurance
  • PruLife Essential Universal Life Insurance

Click How Much Does Life Insurance By Prudential Cost?

Did you know?

In many cases it is much cheaper to buy life insurance on your own rather than through your employer.  Plus, if you leave your job, you don't lose your coverage!

WHAT POLICIES DOES Prudential Life Insurance OFFER?

Despite the name Prudential Life Insurance, life insurance isn’t the only type of policies they offer.  You may also be eligible for:

  • Health insurance
  • Retirement planning
  • Annuities
  • Mutual funds
  • 529 plans

Through your employer, you may also be eligible for:

  • Accident insurance
  • Disability insurance
  • Critical illness Insurance

See our top alternatives to Prudential Life Insurance 

a brief history of Prudential Life Insurance


Prudential was founded in 1873 by John F. Dryden.  Dryden was a Yale dropout with a vision of providing low-cost insurance for people of meager means, pensions for older persons and burial funds for adults and infants. 

The company grew quickly, reporting over 400,000 policies in 1885 and nearly 6.5 million by 1905. 

In 2000, Prudential Insurance announced plans to become a publicly traded company, and it was one of the largest initial public offerings in American history at the time.

History of Prudential - Founded Date

Today, Prudential has moved beyond its primary business of insurance to operate in securities, investments, residential real estate, employee benefits, home mortgages and corporate relocation. 

It is one of the highest-ranked life insurance companies with more than 51,000 employees and sales associates and annual revenue of $64.8 billion.

Americans are terrible at this one thing...

recent study found that more than half of Americans overestimate the cost of term life insurance by three times.  If you've never gotten a personalized quote or only seen quotes from one company, you likely have no idea how inexpensive life insurance really is!

Prudential Life Insurance Products

Prudential seeks to streamline their life insurance products by offering term and universal life. 

However, each has many options for customized coverage, so knowing what you want from your life insurance is important. 

Do you need insurance funds for temporary or permanent needs?  

Most people choose a policy based on how it would be used when they pass away:

  • Paying off a mortgage
  • Covering a child’s college education costs
  • Paying off other debts
  • Funeral costs and final expenses
  • Dependent care
  • Keeping a business running
  • Offsetting estate taxes

Some of these expenses are temporary, such as a mortgage, other debts and a child’s college education. 

Once you pay for them, you don’t have to worry about it again.  Term life insurance usually covers these types of expenses easily. 

Other expenses, like supporting a spouse or dependents, are permanent and may require something more robust than term life insurance can offer.

Universal life insurance is permanent life insurance that can also provide cash value. 

Many policyholders borrow against the cash value while alive, especially if they fall ill or need supplemental income during retirement.  

However, it’s important to note that any money you withdraw from your cash value will decrease the death benefit your beneficiaries receive when you die.

Prudential Life Insurance coverage details and guidelines

Learn about Prudential Life Insurance underwriting guidelines, how they issue policies, how to get an online quote and how to keep your premium costs down.

Who Issues Their Policies?

When you purchase life insurance from Prudential, your policy may be issued by The Prudential Life Insurance Company of America, Pruco Life Insurance Company, Pruco Life Insurance Company of New Jersey or Prudential Annuities Life Assurance Corporation. 

After your policy goes through underwriting, Prudential Life will handle the rest of the process internally.

How Do I Get An Online Quote Through Prudential life insurance?

Prudential makes it easy to get a quote for Term Essential life insurance. 

Simply go online to answer a few questions about your coverage options, lifestyle and medical history to get an automated quote. 

Suppose you want a quote for their other term policies, such as Term Elite or any of their universal policies, including PruLife Essential UL or PruLife Survivorship Index UL. 

In that case, you must contact an agent to apply.

How do I get a low rate on prudential life insurance?

Some factors that affect your Prudential life insurance rates you can’t control, like your age or gender.  

But other factors, like your weight, overall health and your lifestyle, are ones you can manage.

You can also lower your rate by reducing the amount of life insurance coverage you purchase.  

Bigger policies tend to have bigger premiums.  

Examine the amount of coverage that makes sense for you so you’re not paying for more than you need.

See our top alternatives to Prudential Life Insurance 

Find Your Perfect Life Insurance Plan!

Click below to search for life insurance by company, coverage amount, and policy type.

Shortcut:  Our #1 choice for life insurance with health issues is AIG Direct.  If you have any history of heart disease, diabetes, cancer, stroke, or obesity, click here for a free quote.

WHO is prudential life insurance for?

Prudential Life insurance is for anyone who needs customizable life insurance. 

They offer 11 different life insurance plans to choose from.

If you don’t already have life insurance or are looking to supplement or replace your policy, Prudential may be a good fit.

Who is the ideal Prudential life insurance applicant?

Prudential is an excellent choice if you’re looking for term or universal life insurance coverage. 

The company has fewer underwriting requirements than other leading insurers, making them a right choice if you’re overweight or have other health issues or complications.  

If you’re in good health, you may find a lower-cost policy with another company.

what if i'm not perfectly healthy?

Don’t let the fact that you’re not in ‘perfect health’ stop you from applying for life insurance with Prudential. 

The company offers policies even if your health history isn’t ideal.  

You could find coverage if you have a history of smoking or high cholesterol.  

They even have options for people who have diabetes or a history of other medical complications.

Our Favorite Life Insurance Companies

We've worked with and reviewed dozens of companies.  Here are our faves.

Ladder Life Insurance Logo

Ladder Life Insurance

Best for:  No-Exam Plans Up to Age 60

Ladder is known for a quick and easy online application with no medical exam required in many cases.  They have 10, 20, and 30 year plans.  They offer the most coverage without an exam in the industry. Coverage amounts start at $100,000 and go as high as $8 million.

AIG Direct Life Insurance Logo

AIG Direct

Best for:  Lowest Rates or Health Conditions

AIG Direct offers a range of custom term plans up to 35-year term as well as return of premium, and permanent plans that build guaranteed cash value.  Their rates will beat just about anyone if you take an exam.  They're also terrific if you take medication or have health issues.

Bestow Life Insurance

Best for:  Convenient and Simple Plans

Bestow is known for their simple, straight-forward 10, 15, 20, 25 and 30 year term plans up to $1.5 million.  They never require a medical exam (ever) and have great rates.  Rates start as low as $8 per month.

how to apply for life insurance with Prudential life Insurance?

If you’re applying for Term Essential Life Insurance, you can get a quote and apply online. 

All other policies require that you go through a licensed Prudential life insurance agent.  

There are agents located throughout the United States, and there’s likely one in your neighborhood.

signing up for Prudential life INsurance

Qualified individuals can get a quote and complete their term life insurance policy purchase completely online. 

You can also contact a Prudential representative to discuss your term or universal policy options and complete the application.