See how Prudential stacks up in our breakdown of all the top companies who offer guaranteed universal life policies.
Quick Summary: The Prudential UL Protector product is among our favorite guaranteed universal policies. Pruco underwriting is excellent for a wide range of health conditions and tough to place cases. Pricing may be a little high for certain age bands.
About the Company - Prudential
Also sometimes, referred to as PRU or Pruco, Prudential is a name most people have heard of and associate with life insurance.
With over 1 Trillion dollars in assets, it doesn't get much bigger when it comes to life insurance carriers. All the major financial rating agencies agree that PRU is a very safe bet. A.M. Best grades them with an A+ which is considered "superior".
Since 1875, Prudential has been helping clients with insurance, as well as a wide range of financial needs including mutual funds and annuities.
What is Guaranteed Universal Life Insurance? (expand to learn more)
Also known as GUL or "No Lapse", these policies are a simplified version of traditional universal life insurance. A good fit for people who desire the peace of mind of permanent life insurance and want to know the death benefit will always be there.
With guaranteed universal policies, there is no investment component so you don't have to worry about performance of interest rates. These products are attractive because they are simple and easy to understand. There is a guaranteed premium payment that doesn't change and a guaranteed death benefit that will cover you up to age 121, so basically for "life"
Expect the cost to be higher than basic term life insurance but much cheaper than whole life or non-guaranteed universal life policies. Learn more about the Pros and Cons of guaranteed universal life insurance.
About the Prudential Guaranteed Universal Life Insurance Policy
PruLife Universal Protector
$50,000 to No Maximum
0 to 85
To age 90, 95, 100, 105, 110, or 121
Prudential Underwriting Secrets
Prudential is one of our main carriers for clients with health risks. They are lenient across a wide variety of issues. We have seen numerous examples of a client that might be rated low with a different carrier but then being able to qualify for much cheaper premiums at Prudential.
This doesn't mean they should be used for all health challenges but they certainly are at the forefront when it comes to underwriting "high-risk" life insurance.
The secret to finding the cheapest life insurance rates is applying at the company that will view you most favorably. Just going with the one that shows the lowest rates can be a BAD idea and end up costing you more money.
Pru underwriting is lenient on many health issues including:
Prudential may NOT be a good choice for:
Cost - Sample Rates
Sample Prudential guaranteed universal life insurance quotes:
55-year-old male at Preferred health class - pricing listed is per month
to Age 90
to Age 100
to Age 121
50-year-old female at Preferred health class - pricing listed is per month
to Age 90
to Age 100
to Age 121
Our custom quote tool on this page displays only guaranteed universal quotes so you can cut through the clutter. Please note that some carriers do not allow us to display their rates online. We will discuss if there are other options that might be a better fit.
Lenient underwriting for many conditions and situations
Strong company with vast financial assets
No up charge from age 90 to age 121
Cost of premiums is higher than other companies
Most riders cost extra, not much included in the base policy
Extras, Options, and Flexibility
Prudential has a few options to enhance your life insurance policy to better fit your needs.
Additional Options Included at NO Extra Cost
Living Needs Benefit - This is an accelerated death benefit rider. If the insured has been confined to a nursing home for longer than 6 months or expected to live less than 6 months (12 months in CA), access living benefits to help pay medical costs.
Availability and details of how this rider vary from state to state due to regulations.
Additional Options - At a Cost
Benefit Access Rider - If the insured is diagnosed with a chronic or terminal illness, access some of the death benefit to help with care. Use the money however you like, no restrictions and no receipts required. Choose either 2% or 4% per month of the policy amount.
Benefits taken early will be deducted from the eventual death benefit. Expect the cost for this rider to be 5% of premiums and higher depending on age and health profile at the time of application.
Accidental Death Benefit - If the insured dies from an accidental death the death benefit payout will be doubled, up to $500K. Can be used up to age 70 and not available in the state of MA.
Children's Protection Rider - Add a small level term policy on your children. This can be converted to permanent life insurance policy when the initial coverage expires.
Enhanced Disability Rider - If the insured becomes totally disabled for at least 6 months, this rider will make the premium payments for as long as you remain disabled.
How To Make Sure You Choose the Right Universal Life Insurance Policy
The best advice I can give is to always work with an independent agent. If you call a company direct, they'll only push their products on you, and you save nothing. Rates are fixed by your state laws.
Life insurance is the ONLY thing we do. We know the ins and out of 60+ companies and can find you the lowest rates. Every. Single. Time.
To get started, fill out a quote request and we'll be in touch soon to help.