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.
More about Prudential
| Types of life insurance sold | Other products and services |
|---|---|
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.
