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When you shop for life insurance through Quotacy, you have access to the country’s top-rated life insurance companies. Is Prudential the right term life insurance company for you? In this video, we review Prudential to help you make an informed buying decision.

Video Transcript

Hey everyone we’re Jeanna and Natasha and we work at Quotacy. Quotacy is an independent life insurance broker. This means we have the ability to sell policies from multiple life insurance companies giving you more options.

Today we’re going to give a review of Prudential, one of the life insurance companies we work with. Prudential is a global company with headquarters in Newark, New Jersey and has been around since 1875. Overall, Prudential is a great company and excels at offering the best coverage for many lifestyles and health situations.

Quotacy only works with top rated life insurance companies which means they are rated A or better and Prudential is no exception. Being A rated or better means the company is financially secure so you won’t have to worry about your policy’s death benefit not being paid.

To stand out in the competitive life insurance industry, some companies cater to different health or lifestyle niches. Prudential is excellent for those active in the military, people who have been diagnosed with asthma or depression and anxiety, and for those whom use marijuana or have an iffy driving record.

Prudential is an Excellent Choice for:

  • Active Military Members
  • Asthma
  • Depression and Anxiety
  • Driving Record Issues (DUI/DWI)
  • Healthy Individuals
  • Marijuana Users

 
 
What this means is that while some companies may see these particular factors as higher risk than normal, Prudential is a bit more lenient.

Let’s talk about what we like in regards to Prudential’s policies and buying process.

Prudential has not only a traditional level term life insurance product but a return a premium term life insurance product as well.

Let’s talk about the traditional term policy first.

Prudential’s level term product is called Term Essential and is sold in term lengths of 10, 15, 20, and 30 years. The smallest amount of term life insurance you can purchase is $100,000.

Prudential’s Term Essential® Policy

Available Term Lengths

10, 15, 20 and 30-year policies available (depending on applicant’s age)

Available Coverage Amounts

$100,000 and up

Grace Period for Missed Payments

31 Days

 
 
And depending on the life insurance product, there will be different policy riders available. Life insurance policy riders are additional benefits that you can add on to your policy at the time of purchase. Prudential’s term policy offers an accelerated death benefit rider, accidental death benefit rider, premium waiver for disability rider, and a child rider.

Available Riders on Prudential policies

Accelerated Death Benefit Rider

(Included in all Prudential policies)

Accidental Death Benefit Rider

(Available at additional cost)

Premium Waiver for Disability

(Available at additional cost)

Child Rider

(Available at additional cost)

 
 
Let’s break these down.

Accelerated Death Benefit Rider

This rider – also known as a Living Needs Benefit Rider – is included in your policy at no charge. It gives you access to a portion of your policy’s death benefit if you are diagnosed with a terminal illness resulting in 6 months or less to live.

 
 
An accelerated death benefit rider, also known as a living needs benefit rider, is included in Prudential term policies at no charge. This rider gives you access to a portion of your policy’s death benefit if you are diagnosed with a terminal illness resulting in six months or less to live.

Accidental Death Benefit Rider

(Available for an additional cost)
 
Your policy’s beneficiary will receive an increased death benefit if you die due to an accident. Rider cost varies by age and benefit amount with options ranging from $25,000 to $500,000—not to exceed the policy’s face amount.

 
 
An accidental death benefit rider is available on Prudential’s Essential Term policy for an additional cost. With this rider, your policy’s beneficiary will receive an increased death benefit if you were to die due to an accident. This rider is a popular add-on for applicants who perhaps have a dangerous job or participate in risky hobbies.

Premium Waiver for Disability

(Available for an additional cost)
 
If you purchase this rider, Prudential will waive premium payments during a period of total disability lasting six consecutive months or more. The waived payments don’t have to be paid back. This rider is not available on all policies and its cost varies by age.

 
 
A premium waiver for disability rider is available on Prudential’s Essential Term policy for an additional cost. With this rider, Prudential will waive your premium payments during a period of total disability lasting six consecutive months or more.

Child Rider

(Available for an additional cost)
 
You can add a Child Rider to your term policy for as little as $51.50 per year. This rider covers each of your children under age 18 with options ranging from $10,000 to $100,000 in coverage per child. Ask your Quotacy agent for more details.

 
 
A child rider is available on Prudential’s Essential Term policy for an additional cost. For as little as $51.50 per year, the child rider provides life insurance coverage on all of your children less than 18 years of age. It would also include any future children you may have or adopt. Coverage options range from $10,000 to $100,000 in coverage per child.

Overall, Prudential is a great company and excels at offering the best coverage for many lifestyles and health situations.

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As we mentioned earlier, Prudential also offers a return of premium product. Return of premium term life insurance is similar to that of regular term life insurance except for the fact that if you outlive your policy the premiums you paid are refunded to you.

Sounds like a no-brainer, right?

Well, it’s important to note the ROP premiums are quite a bit more expensive than their Essential Term counterparts. Prudential’s return of premium term product also has different provisions than Term Essential.

Let’s talk about these.

The ROP policy offers term lengths of 15, 20, or 30 years. Both products have the same minimum face amount of $100,000.

Prudential’s PruLife® ROP Term Policy

Available Term Lengths

15, 20 and 30-year policies available (depending on applicant’s age)

Available Coverage Amounts

$100,000 and up

Grace Period for Missed Payments

31 Days

 
 
However, while Essential Term offered four different riders, the only rider available with ROP is the accelerated death benefit rider.

Available Riders on Prudential ROP

Accelerated Death Benefit Rider
 
(Included in all Prudential policies)

 
 
Prudential’s ROP product does accumulate some cash value very slowly. You can access these values if you have policy loans but interest gets tacked on.

It’s also important to note that the cash value does not get added to the death benefit total. If you die within the term and there is a loan against the policy, your beneficiaries will receive the death benefit minus the loan plus interest. If you outlive the policy, you’ll be refunded your paid premiums minus any loans plus interest. And if for some reason you decide to surrender your ROP policy, you would not receive your premiums back but you would receive the cash value, if any has accumulated, minus any surrender fees and any outstanding loans plus interest.

A return of premium policy can be a great option if you’re financially stable and don’t mind paying more for a guaranteed refund.

If you’re looking for life insurance Prudential is a good option. If you’re an active military member, have been diagnosed with asthma or depression, if you use marijuana or if you have a less-than-stellar driving record then Prudential may be a great option.

When you apply through Quotacy, we’ll review your application to double-check that you’ve chosen to apply with a company that will give you the most favorable outcome. The final choice is of course 100% your decision we simply aim to be completely transparent and make sure you know all of your options.

» Compare: Term life insurance quotes

If you’re interested in any of the riders we mentioned let your Quotacy agent know after you apply. They’ll let you know the exact cost of any rider you want to purchase and can add it to your policy during the buying process. Quotacy can help you get life insurance from Prudential or any of the other top-rated life insurance companies we work with.

And why should you get life insurance through Quotacy?

Our agents are licensed in all 50 states and they work on salary, not commission, so we’ll never try and upsell you. We work for you, not the insurance companies. You won’t pay any extra fees or charges to use our services.

Get a free, instant term life insurance quote now from multiple top-rated life insurance companies without giving away any contact information. Bye!
 

About the writer

Headshot of Natasha Cornelius, a life insurance writer, for Quotacy, Inc.

Natasha Cornelius

Writer, Editor, and Co-host of Quotacy's Q&A Fridays

Natasha is the content manager and editor for Quotacy. She has been in the life insurance industry since 2010 and has been making life insurance easier to understand with her writing since 2014. When not at work, she's probably studying and working toward her Chartered Life Underwriter (CLU) designation while throwing a tennis ball for her pitbull mix, Emmett, or curled up on her couch watching Netflix. If it’s football season, the Packers game will be on. Connect with her on LinkedIn.