All About Prudential Life Insurance

Prudential has been offering life insurance for more than a century. Wondering if it’s the right choice for you? Learn more about the company’s history, what they offer and how to choose between some of the popular life insurance options in this quick guide.

About Prudential: A Quick History

With a history that dates back to 1875, Prudential has a solid block of experience in providing products designed to deliver financial security to its customers. Prudential was founded by John Fairfield Dryden, who hired Julia Babbit, the first woman to work as a life insurance agent, in 1876. For more than a century, the company grew, reaching $100 billion in assets by 1985. Prudential went public in 2001 and earned a place on Diversity Inc.’s list of the “Top 50 Companies for Diversity” for the tenth year in a row in 2010.

Reasons to Consider Prudential Life Insurance

For most people, having life insurance makes solid financial sense. If anyone in your life will be financially impacted by your death, you should have coverage, notes Forbes. When you’re considering whether to buy life insurance, ask yourself these questions:

  • Do you have debts that you’ll leave behind if you die suddenly? If so, having life insurance can help those you leave behind pay off your liabilities without requiring them to pay out of their own pockets.
  • Do you have kids? If so, you should consider life insurance as a way of securing their future.
  • Do you own a business? If so, you should have insurance and a succession plan that outlines who inherits your business when you pass away.

Types of Life Insurance Available With Prudential

Prudential offers a variety of life insurance options. The company notes on its website that the goal is to find a policy that meets your needs, budget, tolerable risk and the role you want to take in managing it. You can opt to choose on your own or talk with one of Prudential’s financial professionals who can guide you through the process, according to the Prudential website. Types of available life insurance include:

  • Prudential term life, including its Term Elite, Term Essential, PruTerm One and more, provides a payout to your beneficiaries while some term options also provide added benefits like offsetting taxes and protecting your business
  • Prudential universal life, including the PruLife Index Advantage Universal Life, which could create an additional source of income
  • Prudential survivorship universal life, which is designed to help you leave a legacy for your loved ones or a designated institution

Term vs. Universal Life: The Basics

Prudential offers a variety of options. Consider the following basics to help choose between universal and term options:

  • If you’re looking for a policy that’s more affordable with fixed premiums and a length of coverage you can choose, term life is a good option according to Finder.com.
  • If you’re looking for a policy that provides lifelong protection, builds cash value and flexible premiums, then Finder.com recommends choosing a universal life policy.

Optional Extras

Whether you opt for Prudential term life or universal, Prudential offers several ways to customize your coverage. Optional extras include:

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  • Serious illness riders that can provide benefits to you while you’re alive if you become seriously ill
  • Disability riders that keep your policy effective even if you become unable to work due to disability
  • Accidental death benefits that pay additional benefits if you’re in a covered accident
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