Prudential Expands Affordable Life Insurance Options with Enhanced Term Life Solutions

Prudential Financial has expanded its EssentialTerm Suite, offering affordable and flexible life insurance options for policies of $250,000 face amount and above. The suite features two enhanced term life solutions: EssentialTerm Value and EssentialTerm Plus, which allow for conversion to permanent coverage. The suite also includes a terminal illness rider and optional riders for disability waiver, accidental death benefit, and convertible life insurance for a child. The application process is quick and straightforward, with online interviews and PruFast Track accelerated underwriting.

Prudential Financial, Inc. (NYSE: PRU) has announced the expansion of its EssentialTerm Suite, offering more affordable and flexible life insurance options for policies with a face amount of $250,000 and above. The expanded suite includes two enhanced term life solutions: EssentialTerm Value® and EssentialTerm Plus®, which allow for conversion to permanent coverage. The suite also features a terminal illness rider and optional riders for disability waiver, accidental death benefit, and convertible life insurance for a child.

EssentialTerm Value® is designed to be the most cost-effective option for consumers seeking temporary protection with the flexibility to convert to a permanent policy as financial goals evolve. By converting to a permanent policy, consumers can benefit from lifelong coverage and additional benefits such as cash-value growth. EssentialTerm Plus® offers a more robust conversion option for consumers focused on long-term financial planning goals.

The suite includes flexible term options ranging from 10 to 30 years, with guaranteed consistent premium payments throughout the selected term. The ability to convert to one of Prudential’s permanent life insurance policies is available within the first seven years, with a conversion credit to help reduce premiums during the transition. The terminal illness rider is automatically included, providing access to a portion of the death benefit if the policyholder becomes terminally ill.

The application process for the EssentialTerm Suite is quick and straightforward, featuring online interviews that take approximately 20 minutes. The suite also qualifies for PruFast Track, Prudential’s accelerated underwriting process, which eliminates the need for medical exams and lab work. Applications can be seamlessly tracked and managed through Prudential’s new Life Case Tracker.

The expansion of the EssentialTerm Suite joins Prudential’s comprehensive portfolio of term and permanent life solutions, including universal life, indexed universal life, indexed variable universal life, and variable universal life insurance. The company is committed to helping its customers build financial security and unlock financial opportunities by providing more protection and flexibility as financial needs change.

For more information about EssentialTerm Value®, EssentialTerm Plus®, and Prudential’s broad range of product offerings, please visit prudential.com/personal/life-insurance/find-life-insurance-policy/term-life-products.

References:
[1] https://www.stocktitan.net/news/PRU/prudential-financial-expands-essential-term-suite-affordable-and-wyof4jna4shd.html