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The Pearl in Life Insurance Living Benefits Are the Surprise Inside

The Pearl in Life Insurance Living Benefits Are the Surprise Inside

Imagine your surprise and joy to shuck open an oyster and discover a pearl hidden within. If ever there were a pearl to be found in a life insurance policy, it would be a living benefit; a benefit that allows the insured to use the policy values while alive. We’ve got one of these gems in our policies that you may not realize is there, but it’s really something to talk about!

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There’s more to life insurance than money at death.

There’s more to life insurance than money at death.

Our Living Needs BenefitSM is an Accelerated Death Benefit Rider that pays a portion of the death benefit early, when the insured is alive, but terminally ill or, if the insured is permanently confined to a nursing home. It gives the insured valuable options for their unknown future.

Of course, the primary reason to have life insurance is for income replacement for those left behind. For clients who need life insurance, offering the Living Needs Benefit rider can be a well-rounded, thoughtful solution to the financial burden of terminal illness or nursing home costs. But, the rider is not just for expenses associated with illness. There are no limits to what the money can be used for. Your client can make home accommodations, pay travel expenses for visiting family, or even take a vacation.

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Learn More

About this powerful rider that’s available on many of our individual policies and about the state-specific limitation.

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Other strategies might not be enough.

Other strategies might not be enough.

Often people buy Long-Term Care (LTC) insurance thinking that’s all they need for when they get older. Other people think they'll have sufficient assets to cover those bills out of pocket. But medical bills can be exorbitant.

What happens if their assets under perform, their LTC coverage is exhausted, the bills are higher than they anticipate, or some other financial emergency arises?

Purchasing a life insurance policy with an Accelerated Death Benefit Rider like the Living Needs Benefit.SM can give your client more options if they:

  • Become terminally ill.
  • Are confined to a nursing home.
  • Require a vital organ transplant.

(This rider is not available in Washington state. Some states do not allow all features of this rider. For specific state info, see the rider highlighter.)

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Advisors - Life Insurance

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DID YOU KNOW?

DID YOU KNOW?

The projected 20-year out-of-pocket medical expenses for an average 65-year-old couple that retired in 2016 is $233,280.1

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Living benefits make the death benefit accessible if your client is terminally ill.

Referred to as “accelerating the death benefit,” it allows a portion of the amount that would normally be paid upon the insured’s death to be used while the insured is alive, but ill or, confined to a nursing home. Being able to have those dollars to assist with an added financial burden of an illness can be a huge relief for many.

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No Additional Premium. No Additional Underwriting.

No Additional Premium. No Additional Underwriting.

With most good things, there’s a catch, but not so here! Getting the Living Needs BenefitSM for your clients is downright easy.

  • No additional premium.

  • No additional underwriting.

  • And don’t worry if you forgot to check the box to have it added at issue. Do it after issue, any time. We make it easy because it matters.

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The surprise inside is a great offer.

The surprise inside is a great offer.

You can give your clients more than what they ask for with life insurance from Prudential. Adding the Living Needs BenefitSM to a life insurance policy gives it flexibility that you may not see with other competing products that are instrumental in financial protection planning.

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Footnote

1 Foster AC. A Closer Look at Spending Patterns of Older Americans. Beyond the Numbers: Pricing and Spending, Volume 5, Number 4. US Bureau of Statistics, Table 2, p. 4, March, 2016. Healthcare Costs Estimated from Table 2, assuming a 65-Year-Old Couple Lives for 20 Years.

The Living Needs BenefitSM is an accelerated death benefit and is not a health, nursing home, or long-term care insurance benefit and is not designed to eliminate the need for insurance of these types There is no charge for this rider but, when a claim is paid under this rider, the death benefit is reduced for early payment, and a $150 processing fee ($100 in Florida) is deducted. If more than one policy is used for the claim, each policy will have a processing fee of up to $150 deducted ($100 in Florida). Portions of the Living Needs Benefit payment may be taxable, and receiving an accelerated death benefit may affect eligibility for public assistance programs. The federal income tax treatment of payments made under this rider depends upon whether the insured is the recipient of the benefit and is considered “terminally ill” or “chronically ill and, if the policy is business related, whether the insured is receiving the benefits.” We suggest the policy owner seek assistance from a personal tax advisor regarding the implications of receiving Living Needs Benefit payments. This rider is not available in Minnesota to new purchasers over age 65 until the policy has been in force for one year, and the nursing home option is not available in California, Connecticut, Florida, Massachusetts, New York or the District of Columbia. This rider is not available in Washington state. In Oregon, term policies must include the waiver of premium benefit to be eligible for this rider.

This rider is offered on policies issued by The Prudential Insurance Company of America, Pruco Life Insurance Company, and Pruco Life Insurance Company of New Jersey. All are Prudential Financial companies located in Newark, NJ.

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For Compliance Use Only: 1004595-00001-00 Ed. 07/2018