Advertiser Disclosure

Prudential Life Insurance Review 2019

Jan. 2, 2019
At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

NerdWallet is a free tool to find you the best credit cards, cd rates, savings, checking accounts, scholarships, healthcare and airlines. Start here to maximize your rewards or minimize your interest rates. NerdWallet

at a glance

  • NerdWallet ranking: No. 13 life insurance company.
  • Offers several types of term life policies and a wide variety of universal life policies.
  • Was first U.S. life insurer to offer coverage to people living with HIV.

Overview

Founded in 1875, Prudential Financial is one of the largest life insurers in the U.S. The company offers a broad slate of term and universal life insurance policies. Extra features can be added to some policies to customize coverage.

» MORE: The best life insurance companies

Learn more about each element that goes into our Prudential review by clicking below.

NerdWallet rank: 13th

Prudential ranked No. 13 out of the 20 best life insurance companies as scored by NerdWallet. The rankings are based on the insurer’s A.M. Best financial strength rating, J.D. Power’s customer satisfaction score and volume of consumer complaints to state regulators. NerdWallet scores the largest life insurance companies that sell policies to individuals.

A.M. Best financial strength rating: A+ (superior)

Financial strength is important because it indicates the insurer’s ability to pay claims. The policy may not pay out for many years after you buy it, so you want to choose a company with the strength and stability to stick around for a long time.

Consumer complaints: Better than the median

Prudential’s life insurance subsidiaries drew fewer than the median number of complaints to state regulators, compared with other life insurers. The National Association of Insurance Commissioners assigns consumer complaint ratio scores to insurance companies based on the number of complaints to state regulators, adjusted for market share. The national median score is 1, and a score lower than 1 means fewer complaints.

The average score, weighted for market share, for Prudential’s life insurance issuers was 0.21 for individual life insurance in 2017.

J.D. Power ratings: About AVERAGE

Prudential scored “about average” for overall customer satisfaction in J.D. Power’s 2018 life insurance customer satisfaction study. The insurer ranked No. 8 overall among 23 companies surveyed.

Customer satisfaction category Prudential's score
Overall satisfaction"About average"
Billing and payment"Better than most"
Price"About average"
Policy offerings"About average"
Interaction"About average"

More about Prudential

Types of life insurance soldOther products and services
  • Term life.
  • Universal life.
  • Indexed universal life.
  • Variable universal life.
  • Survivorship universal and variable universal life.
  • Annuities.
  • Investments.
  • Workplace benefits.
  • life insurance options

    Several varieties of term life: They come with different features and options, and prices vary. The most basic and affordable is Term Essential. Other policies:

    • SImplyTerm is sold online and policies can be approved within a few days without a medical exam for some applicants. Up to $500,000 in coverage is available for terms of 10, 20 or 30 years.
    • TermElite and Term Essential offer more options, such as the ability to add life insurance coverage for minor children. If you convert a TermElite policy to permanent coverage within the first five years, you get a one-year premium credit.
    • PruTerm WorkLife 65 provides coverage up to age 65. If you become disabled, the policy waives the premium until you turn 65 or are no longer disabled. It also waives the premium for a year if you become unemployed.
    • PruLife Return of Premium returns the premium at the end of the term if you’re still alive.
    • PruTerm One offers coverage for one year at a time. This may work for small-business owners who want coverage as they pay off short-term loans.

    Wide selection of universal life policies: Several types of universal, indexed universal and variable universal life are offered, including survivorship policies. Survivorship life insurance insures two people on the same policy. The policy pays out when the second person dies. These permanent policies let you accumulate cash value. The potential for cash value growth varies among the products. The cash value growth in the indexed policies is based on the performance of a financial index, such as the S&P 500. With the variable policies, you pick the underlying investments that will be the basis for cash value growth.