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Why Is Term Life Insurance a Great Start?

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What you want to protect will change over time.

Prudential will be with you through it all.

Over your lifetime, your protection needs will grow … and pretty quickly, too. You can set the foundation with a term life insurance policy from Prudential.
As your life changes, your Prudential term policy can be converted to any of our permanent ones.
What’s more, our permanent policies include living benefits—ones you can use while you’re still alive.

Prudential has you covered in the beginning, middle, and end.

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Let’s begin the life insurance journey

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Start this Important Conversation

Term insurance is just the beginning. A financial professional took the time to send this experience to you because your financial wellness, and that of the people you love, are important. Give him or her a call today. At Prudential, we've got you covered through all stages of life.

 

Prudential Through It All

As you experience your life, one thing is certain: change. And Prudential will have you covered.

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Footnote

  • 1Outstanding loans and withdrawals will reduce policy cash values and the death benefit and may have tax consequences.
  • 2The BenefitAccess Rider is an optional rider that accelerates the life insurance death benefit when the insured is terminally ill or is chronically ill and not expected to recover from the condition. It is not Long-Term Care (LTC) insurance. Benefits received under the rider will reduce and may deplete the death benefit. Electing the BenefitAccess 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.

 

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 be made only if the payments are subject to favorable federal tax treatment. 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 allowed under Internal Revenue Code Section 101(g)(1) and all other applicable sections of federal law.

 

Non-California Residents:

The BenefitAccess Rider is available for an extra premium. Additional underwriting requirements and limits may also apply. Receiving benefits under the terms of the rider will reduce and may eliminate the death benefit.

Benefits paid under the 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, you (the insured) must be certified as chronically ill by a licensed health care practitioner. 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, you must be certified as terminally ill by a licensed physician. This rider is not Long-Term Care (LTC) insurance, and it is not intended to replace LTC. The rider may not cover all of the costs associated with chronic or terminal illness. It is a life insurance accelerated death benefit rider and is generally not subject to health insurance requirements. The availability of the rider as well as terms and conditions may vary by state.

 

California Residents:

The BenefitAccess Rider is a life insurance benefit that gives you, the policyowner the option to accelerate some or all of your life insurance policy’s death benefit if you meet the criteria for a qualifying event described in the policy. This policy or certificate does not provide Long-Term Care insurance subject to California Long-Term Care insurance law. This policy or certificate is not a California Partnership for Long-Term Care program policy. This policy or certificate is not a Medicare supplement (policy or certificate). Benefits paid under the BenefitAccess Rider are intended to be treated for federal tax purposes as accelerated death benefits under IRC §101(g)(1)(b). Receiving benefits under the terms of the rider will reduce and may eliminate the net death benefit your beneficiaries will receive.

It is important to understand the differences between the BenefitAccess Rider (BenefitAccess) and Long-Term Care (LTC) insurance.

When converting from a Prudential term policy to a Prudential permanent policy, full underwriting for new contracts will be required if a Type C death benefit option is requested.

Prudential's term life insurance policies can be converted to any of our permanent policies, including survivorship. This is currently allowed as an administrative pratice if certain conditions are met and the survivorship face amount does not exceed $20 million. This amount may be reducced based on retetntion limits and/or other covergage in force. Subject to change.

Prudential’s term and permanent insurance policies are issued by Pruco Life Insurance Company except in New York, where they are issued by Pruco Life Insurance Company of New Jersey. Both are Prudential Financial companies located in Newark, NJ.

 

 

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 client or prospective client. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. If you would like information about your particular investment needs, please contact a financial professional. 

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. All guarantees are based on the claims-paying ability of the issuing insurance company and do not apply to the underlying investment options.


For Compliance Use Only: 1024136-00002-00 Ed. 09/2019

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