Prudential Life Insurance Review | Why they’re still a Top 10 Company!

Prudential Term Essentials & Term Elite

Prudential Life offers 2 strong term life insurance products called:

  • Term Essentials
  • Term Elite

These are Prudential Life Insurance’s two most popular term products. These options are almost identical. The biggest differences are their cost and conversion options. With Prudential Term Essentials is more affordable and Term Elite has better conversion features.

Policy Features

Here are some of the main features of Prudential’s term policy:

  • Term life insurance with a Guaranteed Level Death Benefit
  • Term Lengths of 10, 15, 20, & 30 years
  • Guaranteed Level Premiums
  • Issue ages up to 75
  • Face Amounts from $100,000 to $10,000,000+

Term Essential (Guaranteed Conversion Feature)

Prudential will allow to convert your Term Essential policy to a guarantee universal life policy with having to go through another exam or prove insurability. Conversion eligibility requires you to convert before you turn 65 years old. You also can’t convert in the policy’s first 5 years. The only exception to this is if you bought your Term Essential policy at age 60. 

Term Elite (Guaranteed Conversion Feature)

Prudential’s Term Elite is almost identical to Term Essentials. The biggest difference is Term Elite allows you to convert within the policy’s first 5 years. If this occurs, you’ll get back a premium credit that is applied to your converted policy.

Term Essentials & Term Elite Policy Riders

Life insurance riders are a way to customize your policy. Prudential offers the following riders:

  • Accidental Death Benefit Rider: With an accidental death benefit rider, the insurer will pay an extra death benefit if you were to die from an accident.
  • Waiver of Premium Rider: The waiver of premium rider allows you to stop paying your premium payments if you become disabled.
  • Child Rider: The child rider will give short term life insurance coverage for your children.

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