How do you know if the company you are applying with is the right company? At TermLife2Go, we work with dozens of companies offering the best life insurance in the marketplace. However, there is no one size fits all company. Many companies, Prudential Life Insurance included, focus on niche underwriting. It is by aligning each client with the specific niche that best serves their need that we can place our clients with the best life insurance company, based on each clients unique health and lifestyle.
Review of Prudential Life Insurance Company
If you are looking for Prudential life insurance reviews (or Pruco Life Insurance reviews) then you have come to the right place. Prudential life is one of dozens of life insurance carriers that TermLife2Go represents. In the following review we will cover the positives, negatives and alternatives to Prudential Life Insurance Company.
Prudential Life Insurance Reviews 2016
Self proclaimed owner of one of the most recognized and trusted brand symbols: The Rock ®, an icon of strength, stability, expertise, and innovation, Prudential Life is definitely a force to be reckoned with in the world of life insurance. Prudential’s life insurance division is known as Pruco Life Insurance Company and will be used interchangeably throughout this article.
Prudential Life’s A.M. Best Company Rating
As you may have read in other Prudential Life Insurance reviews, as of November 4, 2015, Pruco Life is rated A+ by A.M. Best Company, the most prestigious rating agency for life insurance companies. This means that the company’s financial strength is top notch. Prudential Life is one of the most financially secure life insurance companies in the world.
Prudential Life Insurance Reviews: Favorable Underwriting for “niche” clients
One of the main reasons Prudential Life is in our top 10 best life insurance companies list is due to the company’s unique underwriting. Pruco Life Insurance Company has some very unique niches in the life insurance landscape. The company is an innovator when it comes to underwriting for various niches including travel, DUI’s, cigar smokers, chewing tobacco, cancer survivors, and diabetes. Often, Pruco Life will offer the best rate class and price for clients who fall into these categories.
Some (of the many) niches where Prudential Life excels are:
- Prudential Life may offer a preferred rate class for clients with HDL levels up to and including 6, even if the client is taking cholesterol medication.
- Prudential Life also looks for the best possible impaired risk treatment for clients with asthma, atrial fibrillation, bladder and breast cancer, hepatitis C, mood disorders, and prostate and thyroid cancers.
- Prudential Life is excellent at insuring non U.S. residents who do business in the United States or U.S. residents living abroad.
Prudential Life also has a niche category termed “non smoker plus“. This is a rate class that falls in somewhere between a standard plus and preferred rate class for those who qualify.
Some categories of individuals who may qualify for Pruco Life Insurance Company’s Non-Smoker Plus ratings:
- Cigar/pipe smokers and smokeless tobacco users such as Nicotine patch or Nicorette Gum users
- Individuals with Cholesterol/HDL levels up to and including 7.0, even if they are on cholesterol-lowering medications
- Large build clients ages 18-64: Males and Females 6’0″ up to 243 pounds
- Large build clients 65 and over: Males and Females 6’0″ up to 294 pounds
- Private pilots 25 years of age or older with more than 600 hours in total flight time and between 30 and 300 hours per year
- Diabetics seeking life insurance with excellent control
Pruco Life’s Good Product Line
Prudential Life offers term life insurance and several universal life insurance products. The company offers guaranteed universal life, indexed universal life, and variable universal life insurance. Basically, if there is a life insurance product that you need, chances are Pruco Life has the product. This is why Prudential Life Insurance is an excellent choice for buy sell agreements funded with life insurance or key man life insurance.
Prudential Life uses the client’s actual age. Most life insurance carriers use the client’s nearest age to determine their “life insurance age.” Pruco Life’s clients are at an advantage here if the client is within six months of their actual birthday. Most companies will bump that client’s age up to the next year but Prudential Life will keep the client’s age until the client’s actual birthday. And in life insurance, age is a huge factor in determining the price the client will pay. Therefore, in many cases Pruco Life will be the better option for someone who is past that six month mark from their last birthday.
High Retention Limits
Prudential Life’s retention limit is up to $20 million on fully underwritten single life policies and second to die policies. These limits enable Pruco Life to issue up to $65 million for most single life and second to die life cases. These retention limits are among the highest available in the life insurance marketplace.
Anniversary Rate Reduction
In certain instances, (e.g., smoking, height and weight, occupation, aviation, etc…) reductions may be considered after the first policy anniversary. For example, if after the first year anniversary of the policy a client has stopped smoking, Prudential Life Insurance will consider a smoker to non smoker reduction in the rate class. This will subsequently change the premium from a smoker premium to a non smoker premium with huge savings attached. The advantage of doing this compared with re-applying is that the client would keep their original age and the premium would reflect that original age instead of the client’s current age. And after two years of no smoking, Prudential Life will consider a preferred rate class for the client.
HIV Life Insurance
Prudential life insurance company consistently sets itself apart as an innovator. And now the Company is continuing in that tradition by offering people life insurance with HIV. Once launched, policies will be available in 10 and 15 year term limits, with a conversion option to permanent coverage available.
In offering the new coverage, Prudential has partnered with ÆQUALIS, a financial services startup serving HIV-positive people, which has researched medical underwriting, life expectancy and other data on HIV/AIDS and has been key to developing the product. The startup will provide information to consumers and insurance agents as well as manage the application process for Prudential. Source
Sample Male Prudential Life Insurance Quotes
All quotes are based on a 50 year old male at a preferred plus non-tobacco health class as of February 2015. Rates subject to change and must be qualified for.
|Face Amount||10 Year||15 Year||20 Year||30 Year||GUL to 121|
Sample Female Prudential Life Insurance Quotes
All quotes are based on a 50 year old female at a preferred plus non-tobacco health class as of February 2015. Rates subject to change and must be qualified for.
|Face Amount||10 Year||15 Year||20 Year||30 Year||GUL to 121|
For more quotes from Prudential and its competitors, check out our life insurance rates by age chart or enter your info below.
All good Prudential Life Insurance Reviews need to point out that the company does have a negative…
Not always the Best Option
Prudential Life is a great option for life insurance. However, the company is not always the best option, especially for those looking for no exam life insurance. That is why it is so important to go with an agency that has many options to choose from. You never want to go with just one company. By providing multiple companies we have the greatest chance of helping you obtain the best rates available.
Prudential Life is but one company of many available
Pruco Life is not the only kid on the block. As great of an innovator that Prudential Life is there are still many occasions when another top rated life insurance company will be willing to offer a more competitive rate class and price. This is why having alternatives as a consumer is so important.
Consumers seeking 2016 Prudential life insurance reviews are serious about finding the best deal available. The truth is Prudential Life Insurance is often a great option. However, there is no “one size fits all” life insurance carrier. Every company has its own positives and negatives. The key is knowing which company is best for you and your unique health profile. That is where TermLife2Go comes in.
TermLife2go is an agency that works with dozens of the top rated life insurance companies. Our #1 priority is to find you the best company at the best price…for you! That means we tailor a policy specifically to you because no two clients are alike. Let us leverage our expertise for you and see if we can’t save you thousands of dollars on life insurance.
We do not favor one life insurance company over another. Instead, we find out what you need and then we recommend the lowest priced, best life insurance company to meet your specific need. Therefore, if price matters to you, give us a chance to earn your business. We are here to serve you!
For a free life insurance consultation and for free quotes from Prudential Life and dozens of other life insurance companies, please call us.
If you enjoyed our article, Prudential Life Insurance Company Reviews: Why We Love Pruco!, or have additional questions, please leave a comment below.