Term life insurance can help meet the temporary protection needs of your clients.

Prudential offers several different term life insurance policies, each with its own features and benefits. In addition, many of our term policies are fully convertible to any of our permanent single life and survivorship products. 


Prudential's term life insurance product suite

As a financial advisor, you play a crucial role in helping clients determine their life insurance coverage needs. Prudential's diverse suite of term life insurance policies can help clients at various life stages and income levels. Here’s a breakdown of each term insurance product we offer:

Prudential EssentialTerm® Value

May be ideal for clients looking for cost-effective protection today with the flexibility to convert to a permanent policy as their needs change.

  • Level-Premium Periods: Choose from 10, 15, 20, or 30 years.
  • Premium Guarantees: Fixed premiums during the level term period.
  • Conversion Options: Offers the flexibility to convert to any permanent product within the first seven years, or until age 70, whichever comes first. Clients can convert to a designated permanent product in year eight through the end of their term, or to age 70, whichever comes first.
  • Terminal Illness Rider:1 Allows policy owner to accelerate the death benefit if the client is diagnosed with a terminal illness, and otherwise meets the terms and conditions of the rider, at no extra cost.

Prudential EssentialTerm® Plus

May be suited for clients who prefer cost effective protection and enhanced conversion benefits.

  • Level-Premium Periods: Available in 10, 15, 20, or 30 years.
  • Premium Guarantees: Premiums are guaranteed through level premium period.
  • Conversion Options: Allows conversion to any permanent product during the term or until age 70, whichever comes first.
  • Terminal Illness Rider:1 Allows policy owner to accelerate the death benefit if the client is diagnosed with a terminal illness, and otherwise meets the terms and conditions of the rider, at no extra cost.

Term Essential®

An option for clients seeking straightforward, convertible term life insurance with competitive premiums.

  • Level-Premium Periods: 10, 15, 20, and 30 years available.
  • Premium Guarantees: Premiums are locked in during the level-premium period.
  • Conversion Options: Convertible up to the first policy anniversary after the insured's 65th birthday, providing flexibility as circumstances change.
  • Living Needs Benefit:SM 2 Allows access to the death benefit under certain conditions without an additional cost.

PruTerm® One

Designed for clients needing short-term coverage or a bridge to permanent insurance, such as covering a temporary debt or business obligation.

  • Level-Premium Period: 1 year, with the option to renew annually.
  • Premium Guarantees: Fixed premiums for the first year with subsequent annual adjustments.
  • Conversion Options: Convertible through the fifth policy anniversary, offering a pathway to longer-term coverage.
  • Living Needs Benefit:SM 2 Allows access to the death benefit under specific conditions without an extra charge.

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Disclosures

 

 

EssentialTerm Value and EssentialTerm Plus are issued by Pruco Life Insurance Company located in Newark, NJ. Subject to state availability.

Term Essential and PruTerm One are issued by Pruco Life Insurance Company except in New York, where they are issued by Pruco Life Insurance Company of New Jersey. Both are Prudential Financial companies located in Newark, NJ. 

1 The Terminal Illness Rider is available without an extra premium. Obtaining benefits under the terms of the rider will reduce and may eliminate the death benefit. Benefits paid under the Terminal Illness Rider are intended to be treated for federal tax purposes as accelerated life insurance death benefits under IRC §101(g)(1)(b). Tax laws related to the receipt of accelerated death benefits are complex and benefits may be taxable in certain circumstances. Receipt of benefits may affect eligibility for public assistance programs such as Medicaid. Accelerated benefits paid under the terms of the Terminal Illness Rider are subject to a processing fee of up to $100. Clients should consult tax and legal advisors prior to initiating any claim. A licensed physician must certify that the insured is terminally ill to qualify for benefits. Other terms and conditions may apply. The rider may not cover all of the costs associated with terminal illness. The rider is a life insurance accelerated death benefit product, is generally not subject to health insurance requirements, and may not be available in all states. The rider form number for the Terminal Illness Rider is either ICC16 TB 146-2016 or TB 146-2016, which may be followed by a state code.

2 The Living Needs Benefit is an accelerated death benefit and is not a health, nursing home, or long-term care insurance benefit and is not designed to eliminate the need for insurance of these types. There is no charge for this rider but, when a claim is paid under this rider, the death benefit is reduced for early payment, and a $150 processing fee ($100 in Florida) is deducted. If more than one policy is used for the claim, each policy will have a processing fee of up to $150 deducted ($100 in Florida). Portions of the Living Needs Benefit payment may be taxable, and receiving an accelerated death benefit may affect eligibility for public assistance programs. The federal income tax treatment of payments made under this rider depends upon whether the insured is considered “terminally ill” or “chronically ill” and, if the policy is business related, whether the insured is receiving the benefits. We suggest that clients seek assistance from a personal tax advisor regarding the implications of receiving Living Needs Benefit payments. This rider is not available in Minnesota to new purchasers over age 65 until the policy has been in force for one year, and the nursing home option is not available in California, Connecticut, Florida, Massachusetts, New York, or the District of Columbia. This rider is not available in Washington state. In Oregon, term policies must include the waiver of premium benefit to be eligible for this rider.

Like most insurance policies, our policies contain exclusions, limitations, reductions of benefits, and terms for keeping them in force.

When converting from a Prudential term policy to a Prudential permanent policy, full underwriting for new contracts will be required if a Type C death benefit option is requested.

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