Helping clients plan for chronic illness before it even happens.
That's financial wellness.
Clients want to protect themselves and their families from the financial and emotional impact that a chronic illness can cause. You can help.
- 1 Alliance for Aging Research, The Growing Older Population, Accessed 03/2018.
- 2 How to plan for rising health care costs, Fidelity https://www.fidelity.com/viewpoints/personal-finance/plan-for-rising-health-care-costs 04/01/2019 Accessed 07/2019.
- 3 Alliance for Aging Research, The Growing Older Population, Accessed 03/2018.
- 4 U.S. Department of Health and Human Services. Who Will Provide Your Care? http://longtermcare.gov/the-basics/who-will-provide-your-care/Accessed on February 22, 2016.
- 5 2018. Prudential (Financial Wellness Census).
- 6 AgingCare.com, “Family Caregivers Bear the Burden of High Elder Care Costs” June 2019.
- 7 For certain survivorship policies offered by Prudential, Survivorship BenefitAccess Rider is available.
PruLife Founders Plus UL, PruLife Index Advantage UL, PruLife Universal Protector, VUL Protector, and PruLife Custom Premier II are issued by Pruco Life Insurance Company except in New York, where they are issued by Pruco Life Insurance Company of New Jersey. VUL Protector and PruLife Custom Premier II are offered through Pruco Securities, LLC (member SIPC). All are Prudential Financial companies located in Newark, NJ.
Clients should consider the investment objectives, risks, and charges and expenses carefully before investing in the contract and/or underlying portfolios. The prospectus and, if available, the summary prospectus contain this information as well as other important information. Clients should read the prospectus carefully before investing. It is possible to lose money by investing in securities.
The BenefitAccess Rider is an optional rider that accelerates the life insurance death benefit when the insured is terminally ill or is chronically ill as defined in the rider. It is not Long-Term Care (LTC) insurance. Benefits received under the rider will reduce and may deplete the death benefit. Electing the Benefit- Access Rider results in an additional charge and underwriting requirements. Some benefit payments may be subject to a fee. Other terms and conditions apply and can vary by state. Clients should consult their tax and legal advisors.
For New York contracts: Please also note the rider is not subject to the minimum requirements of New York law, does not qualify for the New York State Long-Term Partnership Program, and is not a Medicare supplement policy. In addition, receiving accelerated death benefits may affect clients’ eligibility for public assistance programs and such benefits may be taxable. Benefit payments may only be made if the payments are subject to favorable tax treatment by the federal government. When determining whether the benefit payments will receive favorable tax treatment, the payment of benefits from all insurance policies must be considered. Benefit payments may be reduced or unavailable if they are expected to exceed the maximum amount eligible under Internal Revenue Code Section 101(g)(1) and all other applicable sections of federal law for favorable tax treatment. This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any of your clients or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing your client’s retirement savings. Clients seeking information regarding their particular investment needs should contact a financial professional.
Benefits paid under the Survivorship BenefitAccess Rider are intended to be treated for federal tax purposes as accelerated life insurance death benefits under IRC §101(g)(1)(b). Tax laws related to receiving accelerated death benefits are complex, and benefits may be taxable in certain circumstances. Receipt of benefits may affect eligibility for public assistance programs such as Medicaid. Accelerated benefits paid under the terms of the Terminal Illness portion of the rider are subject to a $150 processing fee ($100 in Florida). Please consult your tax and legal advisors before initiating a claim.
To qualify for chronic illness benefits, both insured individuals (or the surviving insured individual) must be certified as chronically ill by a licensed health care practitioner. Benefits are not payable if both insured individuals are alive and only one insured is certified as chronically ill. For chronic illness benefits to continue beyond one year, recertification by a licensed health care practitioner is required. Other terms and conditions may apply, including an elimination period. The elimination period is a term of 90 consecutive calendar days that must pass before benefits can be payable. To qualify for terminal illness benefits, both insured individuals (or the surviving insured individual) must be certified as terminally ill by a licensed physician.
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