We help make it easy to protect your loved ones.
Term life insurance provides coverage for a set period of time (a term), offering a fixed death benefit payout that can help your family cover expenses like mortgage payments and childcare. It’s generally more affordable and easier to get than other types of life insurance. Many term policies also include an option to convert, or switch, to a permanent policy without a medical exam, if your needs change.
All of our term life insurance policies are issued by Pruco Life Insurance Company or Pruco Life Insurance Company of New Jersey, which are both Prudential Financial companies.
Consider all of these benefits:
Affordability
Term life insurance is the most cost-effective way to provide life insurance coverage for your family. Your price will never increase during your term, guaranteed.
Choice
Choose how long your coverage lasts to best suit your family needs, typically between 5 and 30 years.
Tax advantages
In many cases, your beneficiary will receive the cash payout tax-free if you pass, offering you a way to leave behind a legacy.1
No medical exams
Some policies allow you to skip the medical exam2 and just answer a few health questions.
Flexibility
Many term life insurance policies let you switch the policy (“convert”) to a permanent life insurance policy, with no additional medical exam.2
Term life insurance quotes
Choose how you want to work with us:
Work with an advisor
Get a quote and speak with an advisor to guide you through the process for EssentialTerm.
Get coverage now
Go from quote to covered in minutes with SimplyTerm, just answer a few health questions.
Choose a term life policy that’s right for you
Explore our competitively priced term life insurance policies.
Prudential EssentialTerm Value® & Prudential EssentialTerm Plus® | Term Essential® | PruTerm One® | SimplyTerm® | |
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Overview | Protect your loved ones with affordable term life insurance that can be converted to permanent life insurance in the future. Coverage ranges from $100,000 to $65 million for terms of 10 to 30 years.. | Affordable protection for your family or business with the added value of options that allow you to access the policy while you're alive or convert to a permanent policy in the future. | With coverage one year at a time, this can be ideal for a small business owner paying off a short-term loan or for certain specific planning needs.3 | Protect your loved ones with affordable term life insurance in just a few minutes, with no lab work or medical exams required.2 Design the policy that fits your needs and budget, with coverage from 5 to 20 years and policy amounts between $25,000 and $1 million. |
How to buy | Get a quote and speak with a financial advisor to apply. | Speak with your Financial Advisor or connect with a Prudential Advisor. | Speak with your Financial Advisor or connect with a Prudential Advisor. | Go from quote to covered in a few minutes. |
Ideal for your loved ones to |
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Term length | 10, 15, 20, 30 years | 10, 15, 20, 30 years | 1 year | 5 to 20 years, in one-year increments |
Medical exam needed | Not always. If you are under age 60, you may not need a medical exam.4 | Not always. If you are under 60, you may not need a medical exam. | Yes. | No |
Convertible to a permanent policy | EssentialTerm Value: During the first 7 years of your policy, or to age 70, whichever comes first, you can convert to any of our permanent life insurance policies and receive a conversion credit (up to a full year of premium) within years 2 to 7. EssentialTerm Plus: You can convert to any permanent policy we offer throughout the length of your term or until age 70, whichever comes first. You can also take advantage of a conversion credit if you convert in years 2 to 7. | Yes. If you’re age 59 or younger when your policy is issued, you can convert throughout the term period or until age 65, whichever comes first.
If you’re between ages 60 and 75 when your policy is issued, you can convert within the first 5 years.5 | Yes, within the first 5 years. | No |
Access to benefits while living | Yes. With the automatically included terminal illness rider, if you become terminally ill, the policy will pay out a portion of your death benefit while you’re still living.6 | Yes. If you add the Living Needs Benefit Rider, you can access the death benefit if you are confined to a nursing home, need an organ transplant, or are terminally ill.7 | Yes. If you add the Living Needs Benefit Rider, you can access the death benefit if you are confined to a nursing home, need and organ transplant or are terminally ill.7 | Yes. With the automatically included terminal illness rider, if you become terminally ill, the policy will pay out a portion of your death benefit while you’re still living.6 |
Frequently asked questions
Getting life insurance can be hassle-free and simple. Here are some answers to commonly asked questions to assist in your decision.
Term life insurance is designed to protect your loved ones for a set amount of time. You typically choose a term length from 10 to 30 years and pay a set premium for the duration of the term. If you die, your beneficiary receives a lump sum payment also called a death benefit.
Term life insurance is a type of life insurance that provides coverage for a specific period of time, know as the term. Here are the main types of term life insurance:
- Level Term Life Insurance: Fixed coverage and premium for a set term that typically can last 10, 15, 20, or 30 years
- Decreasing Term Life Insurance: Coverage decreases over time, often used to cover the cost of mortgages
- Increasing Term Life Insurance: Coverage increases over time, with a fixed premium
- Convertible Term Life Insurance: Allows conversion to permanent life insurance
- Return of Premium Term Life Insurance: Returns premiums if you outlive the term, but is more expensive
- Annual Renewable Term Life Insurance: Renewed annually with increasing premiums
If you have people who depend on your income, it’s likely that you need a life insurance policy. Those that depend on you can use the payout to help cover funeral expenses, continue paying the mortgage or continue living the financial lifestyle you built together.
Stay-at-home parents should also consider life insurance to cover childcare and household expenses should the unexpected happen.
Here are a few of the key factors commonly used to calculate the cost of a life insurance policy:
Age & gender
Health & medical history
Weight & height
Nicotine & tobacco use
Driving record
Coverage amount
Coverage length
The availability of coverage and rates will vary based on company underwriting criteria including, but not limited to, age, sex, health history, smoking status, and residency. Underwriting rules are subject to change at our discretion.
If you pass away, your beneficiaries will receive a payout to take care of the expenses of their choice. Term life insurance payouts are commonly used to cover funeral costs, childcare, payoff debt, college tuition or everyday expenses should something happen to you. Term life insurance helps ensure that a loss of income would not cause a considerable burden on your loved ones.
Most term life insurance policies do not have a cash value component. If you're looking for protection and the ability to grow and access cash value, consider a permanent policy with cash value growth potential.
Term life insurance provides coverage for a specific period of time, usually 10 to 30 years, with fixed premiums and a death benefit paid out if the insured dies during the term. It is generally more cost-effective and does not build cash value. In contrast, whole life insurance offers lifelong coverage and includes a cash value component that grows.
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Footnotes
This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. If you would like information about your particular investment needs, please contact a financial professional.
1 We do not provide tax, accounting, or legal advice. Please consult your own independent advisors as to any tax, accounting, or legal statements made herein.
2 Issuance of the policy will depend upon answers to third-party data and answers to health questions asked in the application.
3 You can purchase one PruTerm One policy during your lifetime.
4 To be eligible for PruFast Track Accelerated Underwriting, you must be between 18 and 60, buying between $10,000 and $3 million worth of insurance, and be quoted as a Smoker rating or better.
5 Convertible to the shorter of the level-premium period or to the first policy anniversary on or after the insureds 65th birthday, but at least five years. Partial conversions are permitted.
6 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.
7 The Living Needs BenefitSM 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 your 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 you 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. Rider form number ORD 87241 90-P and ORD 87335 90; there may be state variations.
* As of December 3, 2024. Ranking for Prudential Financial, according to A.M. Best.
Please remember quotes are based on the information you provided. Underwriting of your medical history and other factors may be required to determine whether you are eligible for coverage and, if so, what premiums would apply. This review may result in a higher premium than initially quoted.
If you continue the policy beyond the initial level-premium period, premiums will then increase annually through age 95 but will never be more than the maximum stated in the contract. The issuing company may have the right to contest the policy for misrepresentation or to apply a suicide clause.
EssentialTerm Value and EssentialTerm Plus are issued by Pruco Life Insurance Company located in Newark, NJ. Subject to state availability. The policy form numbers are ICC24-ETV or ETV-2024; ICC24-ETP or ETP-2024.
Term Essential (PLTIC-2019 or ICC19 PLTIC-2019) and PruTerm One (ICC17 PART-2017 or PART-2017) are issued by Pruco Life Insurance Company except in New York, where, if available, the policies are issued by Pruco Life Insurance Company of New Jersey. Both are Prudential Financial companies located in Newark, NJ. Each company is solely responsible for its own financial condition and contractual obligations. Policy form numbers may be followed by a state code. Coverage will not begin prior to payment of premium.
All guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company. These products may not be available in all states. Our policies contain exclusions, limitations, reductions in benefits, and terms for keeping them in force. A financial professional can provide you with costs and complete details.
PruTerm®One is issued by Pruco Life Insurance Company except in New York, where it is issued by Pruco Life Insurance Company of New Jersey. Both are Prudential Financial companies located in Newark, NJ. Each is solely responsible for its own financial condition and contractual obligations. The policy form number is PART-2017 or ICC17 PART-2017. ADD new paragraph: SimplyTerm is issued by Pruco Life Insurance Company located in Newark, NJ. The policy form number is ICC23-SIMPLT or SIMPLT-2024. Underwriting rules are subject to change at our discretion. Issuance of the policy will depend upon answers to health question set forth in the application and third-party data.
SimplyTerm is issued by Pruco Life Insurance Company located in Newark, NJ. The policy form number is ICC23-SIMPLT or SIMPLT-2024. Underwriting rules are subject to change at our discretion. Issuance of the policy will depend upon answers to health question set forth in the application and third-party data.
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