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Prudential Life Insurance Review 2024

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate insurance products to write unbiased product reviews.

Founded in 1875, this established company offers life insurance products nationwide and across 40 countries. With excellent living benefits and competitive rates, this company is a slam dunk for some. Our Prudential life insurance rates review covers rates, policies, and much more. Its competitive plans also help buyers with long-term wealth-building and retirement planning.

Prudential Life Insurance
Get quotes
compare policies and rates with Policygenius
Insider’s Rating
A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star
4.75/5
Icon of check mark inside a promo stamp It indicates a confirmed selection.
Perks

Offers aggressive financial plans.

JD Power Customer Satisfaction Rating

779

AM Best Financial Strength Rating

A+

Pros
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Available in all 50 states (New York residents may have different plans)
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Buyers can withdraw money to pay for nursing home bills due to severe illness or disability
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Knowledgeable agents who can walk you through your options
Cons
  • con icon Two crossed lines that form an 'X'. Financial returns are limited
  • con icon Two crossed lines that form an 'X'. Limited policy options for seniors and other groups who might struggle to find life insurance
Insider’s Take

The aggressive financial plans offered by Prudential may appeal to many younger buyers and those with a stable income. However, those with lower income or buyers who aren't sure about the financial system may be more hesitant to engage with Prudential. Like many other industry giants, Prudential is working to change this perception.

Prudential Life Insurance

The aggressive financial plans offered by Prudential may appeal to many younger buyers and those with a stable income. However, those with lower income or buyers who aren't sure about the financial system may be more hesitant to engage with Prudential. Like many other industry giants, Prudential is working to change this perception.

Most importantly, Prudential quotes go through licensed life insurance agents. Agents can make recommendations, discuss your financial goals, and make expert recommendations. The challenge of more comprehensive services is the company cannot offer $10 death benefit policies as some online providers do.

For many customers, the key is finding a life insurance agent they trust who will guide them through the shopping process regardless of where they buy.

How much does life insurance from Prudential cost?

The average cost of life insurance varies based on factors like age, health, policy type and limit, and more. As you can see in the charts below, the average term rates for 25, 35, and 45-year-old adults in good health are highly affordable for the average consumer. However, Prudential rates come in higher than the industry average.

Prudential's whole and universal life policies can only compare to more comprehensive policies focusing on long-term financial planning. Its whole and universal policy rates are closer to the industry average when controlling for the expected death benefit.

Profile

Prudential Average monthly premium

25-year-old female

$29.56

25-year-old male

$40.73

35-year-old female

$34.35

35-year-old male

$43.80

45-year-old female

$58.02

45-year-old male

$67.89

How do I file a claim with Prudential?

You can file a claim with Prudential life insurance online or by calling your life insurance agent. You'll need details like the policyholder's name, date of birth, social security number, or policy number to begin the claims process. Prudential life has a digital claims checklist to ensure you have the necessary documents to file a claim when the time comes.

For further assistance, you can reach the team through the following:

  • Virtual chat
  • Phone (for policy numbers not beginning with "FE" ): 1-800-778-2255
  • Phone (for policy numbers beginning with "FE" ): 1-833-626-1865

Who are the ideal customers for Prudential?

Prudential life is a solid choice for buyers ready to pay more for life insurance. The company offers a medical exam waiver with competitive prices and generous living benefits. It also provides flexible options, universal plans with growth based on the S&P, and other life insurance products for long-term retirement planning.

Its agent-based approach also ensures customers get more support when shopping. Agents can answer questions, assist with underwriting, and more. Prudential is also a viable option for noncitizens looking for life insurance. Visa holders may appreciate that this company doesn't require a social security number to apply for a policy.

The company does not offer cheap term policies you can buy online in minutes. Customers can get preliminary online quotes on some policies but not all. So buyers looking to get a small amount of coverage with minimal hassle or wait time might not find what they're looking for with Prudential.

Prudential Life Insurance Plans

Prudential offers a wide array of term, universal, indexed universal, and variable life policies to fit your needs. As previously specified, Prudential focuses on higher-value life insurance products. But policies can be very affordable given the higher value.

SimplyTerm

Prudential's SimplyTerm is a term life insurance policy with a no medical exam life insurance option. You can get speedy coverage by answering a short online questionnaire, but you may need to provide additional health-related information for underwriting.

This policy is offered to customers up to age 75, but younger buyers with no preexisting health conditions are more likely to be approved. Prudential agents can review your application to determine your chances and switch you to a medical exam-based policy as needed.

Some customers prefer medical exams upfront due to the potential for higher limits at a lower cost.

  • Term lengths: 10, 15, 20, or 30 years
  • Minimum coverage: $100,000
  • Maximum coverage: $1 million
  • Eligible ages: 18-75

Term Essential®

With Prudential's Term Essential®, you'll pay level insurance premiums until your term ends or you turn 95 for a tax-favored death benefit. Then, you can convert your policy into a permanent life insurance policy without undergoing an additional medical exam.

Always check with your Prudential agent regarding any challenges later converting to a permanent policy. You may need to add a rider to guarantee conversion. Remember, your rates will inevitably increase while coverage decreases when you convert.

With this term life policy, accelerated benefits are built in, meaning you may receive a portion of your death benefit while alive if you become terminally ill. Term lengths for this policy include 10, 15, 20, or 30-year options. However, due to the limited term, should you develop a qualifying illness, it's critical to file your claim early.

PruTerm One

If you need short-term coverage, PruTerm One offers one-year life insurance protection. Coverage is renewable annually, but premiums may change at every renewal. You can convert your policy within the first five years of your PruTerm One policy without a medical exam. After that, the policy would be subject to the same adjustments in premiums and value.

The PruTerm One policy may provide a way for hesitant buyers to test the water. If you need more time to commit to a whole life insurance policy, you can get on board for a year and commit once you feel more comfortable making it a long-term part of your budget.

PruLife Essential UL

PruLife Essential is a universal life insurance policy that grows your cash value tax-deferred. The PruLife Essential policy will stay in force regardless of the performance of your cash value as long as you pay your scheduled premiums (no-lapse guarantee). In addition, Prudential protects investments against market fluctuations with a 2% guaranteed minimum crediting interest rate.

You can upgrade PruLife Essential to a survivorship policy with a limited no-lapse guarantee for ten years. After those ten years, you can supplement your policy with the lapse protection rider to ensure your policy will stay in force.

How does the survivorship plan work? It provides a guaranteed policy split rider which splits your policy into two separate policies if you get divorced or if the unlimited marital deduction is repealed.

PruLife Index Advantage UL

PruLife Index Advantage is an indexed universal life policy that builds cash value through three interest crediting strategy. With one approach, the cash value grows based on fixed interest. The other two strategies track the S&P 500 for tremendous growth potential. As a result, buyers serious about aggressive investment and retirement savings may be attracted to its S&P-based options.

This program also has a survivorship life insurance option covering two people. In addition, accelerated death benefits, life insurance loans, and the guaranteed policy split rider are available to policyholders at no additional cost.

VUL Protector

Prudential's variable life insurance offers a cash value benefit with an ala carte of investment options, meaning you take on more risk in pursuit of higher returns. But, like its indexed universal life insurance policy, the VUL Protector has a no-lapse guarantee. So your policy will remain effective even if your cash value reaches zero.

This policy also has a survivorship option. So couples can be insured together, continuing to grow the policy after the death of the first. If you're interested in the survivorship option with any policy, we recommend talking to a Prudential life insurance agent to ensure you qualify.

PruLife® Custom Premier II

Prudential's PruLife® Custom Premier II is a variable life insurance policy. This policy allows you to choose over 50 underlying investment options based on risk tolerance and investment goals. It also has fixed-rate options for steady returns, equity, fixed-income investing, and asset allocation to diversify your portfolio.

With the variable life insurance plan, you get flexible premium payments and flexibility in your death benefit. You can also pair the PruLife® Custom Premier II with the S&P500 account rider to offset market volatility and other risks.

Additional coverage options from Prudential

  • Accidental death benefit - Supplement your policy with this additional death benefit rider if you're in a high-risk industry or engage in risky activities. Beneficiaries will get a higher death benefit if their death is caused by a covered accident.
  • Terminal illness/living needs benefit - All Prudential policies include this rider at no extra cost. It allows terminally ill policyholders to access a portion of the death benefit. For policyholders and their families, this can alleviate the financial stress associated with a severe illness.
  • Waiver of premium - This rider offers relief by waiving your premiums if you become fully disabled.
  • Children's protection rider - You can provide life insurance for your children at an additional cost. As adults, children can buy a life insurance policy.
  • BenefitsAccess - This rider offers early access to your death benefit if you become terminally or chronically ill.
  • Enhanced cash value - This rider allows you to accumulate more cash value in the early years of your policy.
  • Overloan protection rider - Overloan protection prevents a lapse in your coverage if you have an outstanding loan against your policy (i.e., you took out a loan to access your life insurance benefits early and chose not to repay). It applies under set conditions and has to be selected upfront, but Prudential specifies there's no additional cost if it's not exercised.
  • Guaranteed policy split rider - This rider allows you to split the policy into two individual policies if the policyholders get divorced, or the unlimited marital deduction is repealed.
  • S&P 500 Indexed account rider - This rider offers additional protection against volatility with a guaranteed 1% floor. It allows you to enjoy the benefits of high variable returns with less risk in a down market. It may subject you to an interest cap.
Prudential Life Insurance
Get quotes
compare policies and rates with Policygenius
Insider’s Rating
A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star
4.75/5
Icon of check mark inside a promo stamp It indicates a confirmed selection.
Perks

Offers aggressive financial plans.

JD Power Customer Satisfaction Rating

779

AM Best Financial Strength Rating

A+

Pros
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Available in all 50 states (New York residents may have different plans)
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Buyers can withdraw money to pay for nursing home bills due to severe illness or disability
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Knowledgeable agents who can walk you through your options
Cons
  • con icon Two crossed lines that form an 'X'. Financial returns are limited
  • con icon Two crossed lines that form an 'X'. Limited policy options for seniors and other groups who might struggle to find life insurance
Insider’s Take

The aggressive financial plans offered by Prudential may appeal to many younger buyers and those with a stable income. However, those with lower income or buyers who aren't sure about the financial system may be more hesitant to engage with Prudential. Like many other industry giants, Prudential is working to change this perception.

Prudential Life FAQs

What does Prudential do? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Prudential is a Fortune 500 company providing life insurance and other financial solutions to retail and institutional customers. It serves customers nationwide and in over 40 countries.

Is Prudential a good life insurance company? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Prudential is a good company with almost two centuries of experience. The firm's life insurance also ranked 11th with 773 points out of 1,000 with JD Power. Prudential is among the oldest life insurance providers in the US and continues to adjust to the market.

Can Prudential Life Insurance be trusted? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Prudential is a reliable company. With an AM Best score of A+ (Superior), the company has an excellent track record for meeting its financial obligations. However, according to the NAIC complaint index, Prudential has a high volume of customer complaints.

Compare Prudential Life Insurance

Learn more about how Prudential Life Insurance compares with leading life insurance providers.

Prudential Life vs. AIG Life Insurance

Customer service is a marker of a competent insurance company. We used JD Power's customer satisfaction survey to evaluate how a company holds up against its competitors in delivering quality customer service.

Companies ranked with JD Power are generally industry leaders. However, a below-industry average score may indicate the insurance received mixed reviews in customer satisfaction.

Prudential ranked 11th, with 773 points, slightly below the industry average. AIG Life Insurance (American International Group) Corebridge rated 19th with 744, below the industry average.

We used AM Best to measure the financial health of an insurance company. We also use its National Association of Insurance Commissioners (NAIC) complaint index score to assess a company's trustworthiness.

Prudential received an A+ (Superior), while AIG Corebridge received an A (Excellent). Both scores indicate bright financial prospects and longevity. However, Prudential has more financial stability than AIG.

While Prudential's financial strength is high, it has a complaint score of 8.65, significantly above the average industry score of 1.00. The company received 865% more complaints than its competitors, which may worry some shoppers. AIG Corebridge, on the other hand, has an index score of 0.45, far fewer complaints than the industry average.

Based on profiles of 35-year-old males and females (with a standard 20-year term length and a life insurance benefit of $500,000), we compared policy prices from both insurance companies. Here is how the costs stack up:

 

Prudential

AIG

Male

$43.80

$26.01

Female

$34.35

$22.26

Source: Policygenius

Prudential offers several ways to reach its team, including phone, email, online support center, and live chat. The firm also publishes its term lengths and coverage amounts. Shoppers may get an immediate quote by completing the online questionnaire. However, receiving a quote upon completion isn't guaranteed, and pricing is subject to underwriting approval. So we recommend calling a Prudential insurance agent instead.

AIG Corebridge's contact methods are limited to email and phone. While the company discloses its term lengths and coverage amounts, it doesn't offer a quoting tool for a quick estimate. However, agents with either company can help potential customers choose the right coverage and price it out to make an informed decision.

AIG Corebridge offers substantially lower rates. AIG Corebridge also appears to have considerably fewer complaints than Prudential. However, both companies fall below the industry average on JD Power rankings.

Regardless, both competitors are well established with decades in the industry with diverse portfolios. As a result, buyers looking for solid agent support and potentially more significant policy limits may find options with either company.

AIG Life Insurance Review

Prudential Life Insurance vs. Lincoln Financial Life Insurance

Prudential Life earned a 773 out of 1,000, while Lincoln Life scored 764 on the latest JD Power life insurance study. Though both are not top of the list, ratings suggest the companies still provide decent customer service.

AM Best graded Prudential an A+ (Excellent) and Lincoln Financial Group Life Insurance an A (Excellent). Both companies received excellent scores, meaning customers can expect the companies to last. Consequently, Prudential and Lincoln Financial will likely be around to pay your claims.

Prudential, however, received a high complaint index score of 8.65, which may be a cause for concern for customers who value company trustworthiness. Therefore, Lincoln Financial may be a better option as it has a low complaint index score of 0.30.

Based on profiles of 35-year-old males and females (with a standard 20-year term length and a life insurance benefit of $500,000), we compared policy prices from both insurance companies. Here is how the costs stack up:

 

Prudential

Lincoln Financial

Male

$43.80

$32.49

Female

$34.35

$27.43

Source: Policygenius

Reaching out to the Prudential Life team is easy. You can contact the team via phone, email, online support center, or live chat. On the other hand, Lincoln Financial only offers two ways to reach the team: email and phone.

Both companies have term lengths and insurance benefits published on company websites. In addition, Prudential offers limited online quoting options. But we recommend talking to an agent if you're buying from Prudential or Lincoln. You'll have access to more life insurance products, and agents can advise you on riders and other opportunities you might not be aware of.

Prudential may have better customer service than Lincoln Financial. But the number of complaints it receives may deter customers from choosing it over Lincoln Financial. Lincoln Financial may also have more viable options for buyers looking for cheap life insurance companies.

However, you should expect to pay more if you're in the market for a retirement plan or other more comprehensive financial planning. Prudential has diverse offerings but specializes in life insurance plans for the bigger picture.

Lincoln Financial Life Insurance Review

Why You Should Trust Us: How We Reviewed Prudential Life Insurance

Insider considers many factors when writing our insurance product reviews. However, company offerings, customer service, reliability, affordability, and transparency are chief pillars of a quality life insurance provider.

We look at policy types and exclusions to evaluate a company's offerings. For example, an outstanding company will offer a comprehensive array of short-term and long-term policies. We also consider how friendly a company is to those with health conditions and certain lifestyles.

We use JD Power's life insurance customer satisfaction survey to measure the overall satisfaction of the customer's experience. In this study, JD Power collected over 5,000 responses and ranked insurance companies based on communication, interaction, price, product offerings, and statements. The industry average is 774 points out of 1,000.

We then equipped data from the National Association of Insurance Commissioners (NAIC) complaint index and AM Best to measure a company's reliability. The NAIC uses a complaint index score to determine how many complaints a firm receives on average. The average industry score is 1.00, meaning if a company scores less, it receives fewer complaints than its competitors and vice versa. AM Best grades companies from A++ (excellent financial stability) to F (not financially stable). Any score below a B may indicate an insurance company has issues meeting financial obligations like paying out claims.

Your premium will vary based on your age, health, and other factors used in underwriting. We consider what type of client would be best for the company based on price. For instance, senior shoppers may get a better rate at one firm than another. Buyers with limited income may have more options with one insurer over another. We also compare the prices of a company's term life policy against the industry average and other insurance companies.

Finally, we evaluate an insurance company's level of transparency based on how much information it provides shoppers on its website. This includes the availability of quoting tools, term lengths, minimum and maximum coverage rates, and if the company publishes average rates on its website. You can read more about how we rate insurance products.

Prudential Life Insurance
Get quotes
compare policies and rates with Policygenius
Insider’s Rating
A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star
4.75/5
Icon of check mark inside a promo stamp It indicates a confirmed selection.
Perks

Offers aggressive financial plans.

JD Power Customer Satisfaction Rating

779

AM Best Financial Strength Rating

A+

Pros
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Available in all 50 states (New York residents may have different plans)
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Buyers can withdraw money to pay for nursing home bills due to severe illness or disability
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Knowledgeable agents who can walk you through your options
Cons
  • con icon Two crossed lines that form an 'X'. Financial returns are limited
  • con icon Two crossed lines that form an 'X'. Limited policy options for seniors and other groups who might struggle to find life insurance
Insider’s Take

The aggressive financial plans offered by Prudential may appeal to many younger buyers and those with a stable income. However, those with lower income or buyers who aren't sure about the financial system may be more hesitant to engage with Prudential. Like many other industry giants, Prudential is working to change this perception.

Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards.

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

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