Critical illness. Term Life Insurance Policies, Prudential Financial

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How These Policies Work

There's nothing too complicated about term policies. You choose how long you want your coverage to last, and you make regular premium payments for that time period. If you die during the time you're covered, then your beneficiaries receive the death benefit.

Your premiums will not change for the coverage period you select. As long as you pay the premiums on time, you're covered. You can even choose a premium payment schedule that's convenient for you (monthly, quarterly, bi-annually, or annually). Paying premiums more frequently than annually may result in your paying higher total premiums.

Generally, when your term coverage ends, you stop making payments and you no longer have coverage. There may be other end-of-term options like continuing coverage or buying another policy. But we’ll talk more about that later.

All of our term policies offer:

An income tax-free death benefit to help protect your family or business when you die (per IRC §101(a)).

Guaranteed premiums that will stay the same during the level-premium period. After this period, premiums will increase each year until the policy ends (usually at age 95) and may not be guaranteed.

Access to the death benefit while still living to help you out financially if you become terminally ill.

Most of our term policies offer:

A conversion option. Conversion is the ability to change your term policy into a permanent policy that can potentially cover you for life. One of the main advantages of conversion is that there’s no need to go through another health exam. That’s good news for anyone who has aged (all of us) or whose health status may have changed since purchasing the initial policy.

A choice of riders. You can customize your policy by adding features, called riders, at an additional cost. The riders available are listed below.

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One of our most affordable products, Term Essential can help ensure that your loved ones can carry on after you’re gone. The death benefit they receive can be used for any purpose. There are no restrictions. Many people commonly use the money to:

Tailor your policy

You can build this policy with optional features. These are called riders. Riders can help you:

If you become seriously ill.* See the Living Needs Benefit

If you would like to provide an additional death benefit to your family. See the Accidental Death Benefit.

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If you become disabled. See the Waiver of Premium.

If you would like to add life insurance coverage for your minor children. Seethe Children’s Protection Rider.

Learn more about the riders available on Term Essential

This product provides coverage that is similar to Term Essential, and comes with a few extras. For example, if you choose to convert to a permanent policy within the first five years, you will receive credit on your first-year premium. This can help make the transition from term to permanent coverage a bit easier.

Tailor your policy

You can build this policy with optional features. These are called riders. Riders can help you:

If you become seriously ill.* See the Living Needs Benefit

If you would like to provide an additional death benefit to your family. See the Accidental Death Benefit.

If you become disabled. See the Waiver of Premium.

If you would like to add life insurance coverage for your minor children. See theChildren’s Protection Rider.

PruTerm WorkLife 65 is designed to provide cost-effective coverage during your working years, up to age 65. One of the nice things about this policy is that there are certain riders automatically built in at no extra cost:

If you become disabled, you won’t have to pay premiums until either your disability ends or you turn 65, whichever comes first; and,

If you become unemployed after the first year of coverage, we will waive one continuous year of premiums one time.

This helps ensure that you won’t lose your coverage during times where it can be difficult to make payments.

Tailor your policy

You can build this policy with optional features. These are called riders. Riders can help you:

If you become seriously ill.* See the Living Needs Benefit

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If you would like to provide an additional death benefit to your family. See the Accidental Death Benefit.

If you would like to add life insurance coverage for your minor children. See theChildren’s Protection Rider.

Learn more about the riders available on PruTerm WorkLife 65

This policy is like most term policies—if you die during the term you choose, your beneficiaries will receive a death benefit. But it’s also unique because if you are still alive at the end of the term, your premium payments will be returned to you, tax-free.

The money is yours to use however you want—no restrictions. Some people use the money to pay off a mortgage, pay for college, or supplement retirement income, or for business purposes.

Tailor your policy

You can build this policy with an optional feature, called a rider. This rider can help you:

If you become seriously ill.* See the Living Needs Benefit

Learn more about the riders available on PruLife Return of Premium Term

Explore PruLife Return of Premium Term PDF Opens in a New Window

PruTerm One is unlike a lot of policies because it offers coverage one year at a time. You may be asking: “Who needs this type of coverage?”

PruTerm One may be an ideal solution if you are a small business owner who is paying off a short-term loan. This policy is both convenient and cost-effective because you’re not paying for long-term coverage that you don’t need. It may also be a good option for certain advanced planning situations.

Tailor your policy

You can build this policy with an optional feature, called a rider. This rider can help you:

If you become seriously ill.* See the Living Needs Benefit

Learn more about the riders available on PruTerm One

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Footnote

The rider form numbers may all be followed by a state code and are:

The Living Needs Benefit

: ORD 87241-90-P or ORD 87335-90 (Not available WA.)

Waiver of Premium: Term Essential and Term Elite: TB 100-2000; there may be state variations.

Accidental Death Benefit: Term Essential, Term Elite, PruTerm WorkLife 65: TB 113-2000 (Not available in MA.)

Children’s Protection Rider: Term Essential, Term Elite, PruTerm WL 65: TB 182-2000; TB184-2000 for after issue. There may be state variations.

PruTerm One (ICC17 PART-2017 or PART-2017), Term Essential (ICC16 PLTIC-2016 or PLTIC-2016), Term Elite (PLTI-2008), SimplyTerm (ICC SIMPT-2018 OR SIMPT-2018 followed by a state code), and PruTerm WorkLife 65 (PLTUB-2011) are issued by Pruco Life Insurance Company in all states except in New York, where, if available they are issued by Pruco Life Insurance Company of New Jersey. Return of Premium Term (ICC13 PLTIR-2013 or PLTIR-2013 ) is issued by Pruco Life Insurance Company except in New Jersey and New York, where the issuer is Pruco Life Insurance Company of New Jersey. Both are Prudential Financial companies located at 213 Washington Street, Newark, NJ. Each is solely responsible for its own financial condition and contractual obligations.

All guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company. These products may not be available in all states.

Our policies contain exclusions, limitations, reductions in benefits, and terms for keeping them in force. A financial professional can provide you with costs and complete details.

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