Prutection Scoresm =
Funds and Coverage Available*
Funds and Coverage Needed†
How it works
Prutection ScoreSM gauges how financially prepared employees are should a risk even occur by looking at the resources available to them relative to the resources needed.
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- * “Funds and coverage available” is based on an estimate of an employee’s financial assets, spousal or partner income, investment income, Social Security benefits, and insurance benefits, drawing from Prudential survey data and external industry and government sources.
- † “Funds and coverage needed” is an estimate based on a variety of survey data such as an employee’s age, marital status, number of children, income, essential monthly expenses (e.g., mortgage, child care), discretionary expenses, and college costs. The figure incorporates realistic assumptions about items such as longevity, inflation, and care-giving costs based on a combination of mortality tables and government and industry data.
- 1 Benchmark scores as reported in “How Well Protected Are Employees Against Key Financial Risks?” March 2017. This white paper was developed by Prudential, using supporting research and analysis provided by EY Insurance and Actuarial Advisory Services.
- 2 Prudential Group Insurance, "Financial Wellness Survey," 2017. The survey polled 4,300 full-time employees with medical insurance, was conducted using Harris Online Panel in December 2017 /January 2018, and was sponsored by The Prudential Insurance Company of America.
The Prudential Insurance Company of America (Prudential)
The Prutection ScoreSM is a measure of how prepared a group of employees are for the risks of (1) premature death, (2) loss of income due to an illness or injury, (3) out-of-pocket expenses related to an illness or injury, and (4) outliving assets. For each of these risks, the Prutection Score is the ratio of Funds Available to Funds Needed, which are estimated using employee demographic information, Prudential survey data and a variety of credible external industry and government sources. While the first three risks take into account actual coverage amounts employees have to help protect them against those risks (e.g., Life, Disability, CI and Accident Insurance), the Outliving Assets Risk does not (e.g., no actual employee retirement assets and deferral rates). The Outliving Assets risk does not evaluate the sufficiency of employer’s or employee’s retirement plans and does not constitute retirement advice. The Prutection Score is not intended to advise you or any of your employees what their specific financial needs might be or the exact amount of coverage any one individual might need now or in the future. The resulting scores are to be used for an entire group of employees or large demographics within a group. Results are not to be used at an individual level. Individuals should contact a financial professional regarding their personal situation. Prudential is not responsible for uses made of this information inconsistent with the description provided here.
For Compliance Use Only: 1027053-00001-00