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Prudential’s Term Life Policies

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Term Life Insurance is a good place to start if you’re new to life insurance. In many ways, buying a term policy is similar to leasing a car. When you lease a car, there are typically a few lease periods you can choose from—and you make payments for that length of time. At the end of your car lease, you stop making payments and return the car, or you can keep the car for an additional cost. Term policies work much the same way.

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Should I Keep Reading?

If you are new to life insurance and your main goals are death benefit protection and affordability, then purchasing a term policy might be the way to go. It can also be a good option if you already have life insurance but want to put additional coverage in place for a limited period of time.

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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, annually).

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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Prudential’s Policies

We offer six term policies, each with its own advantages.

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Only Death Benefit

MyTerm is a fast and simple way to get a life insurance policy—making it ideal if you’re new to life insurance or want to supplement existing coverage. Coverage amounts range from $50,000 up to $250,000 in increments of $25,000. MyTerm cannot be converted to a permanent policy.

You can quickly apply for coverage online and get an answer in minutes. An in-person medical exam is not required, which means no appointments and no blood work. Simply answer a series of health-related questions in the online application to see if you are approved for coverage.

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 Terminal Illness Rider.

 Learn more about the rider available on MyTerm

 Explore MyTerm   PDF Opens in a New Window  

 BUY this policy   PDF Opens in a New Window


Only Death Benefit

Business

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:

  • Cover final expenses
  • Pay off the mortgage
  • Replace lost income
  • Pay debts

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 BenefitSM.
  • 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 the Children’s Protection Rider.

 Learn more about the riders available on Term Essential

 Explore Term Essential   PDF Opens in a New Window  

 Get a quote   PDF Opens in a New Window

 Have a Financial Professional contact you


Only Death Benefit

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 BenefitSM.
  • 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 the Children’s Protection Rider.

 Learn more about the riders available on Term Elite

 Explore Term Elite   PDF Opens in a New Window  

 Get a quote   PDF Opens in a New Window

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Only Death Benefit

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.

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 BenefitSM.
  • 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 the Children’s Protection Rider.

 Learn more about the riders available on PruTerm WorkLife 65

 Explore PruTerm WorkLife 65   PDF Opens in a New Window  

 Get a quote   PDF Opens in a New Window

 Have a Financial Professional contact you


Only Death Benefit

Additional Income

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 BenefitSM.

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

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

 Get a quote   PDF Opens in a New Window

 Have a Financial Professional contact you


Business

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 BenefitSM.

 Learn more about the riders available on PruTerm One

 Explore PruTerm One   PDF Opens in a New Window  

 Get a quote   PDF Opens in a New Window

 Have a Financial Professional contact you

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Footnote

*Subject to the terms and conditions of the rider.

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

  • Terminal Illness Rider: TB 146-2016 or  ICC16 TB 146-2016
  • Waiver of Premium: Term Essential and Term Elite: TB 100-2000; TB 100-2007 (ED 2014) in CA; 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: TB 182-2000; PruTerm WL 65: TB 182-2000; there may be state variations.

MyTerm (ICC16 PFT-2016 or PFT-2016), PruTerm One (ICC14 PART-2014 or PART-2014), Term Essential (PLTIC-2008), Term Elite (PLTI-2008), 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.

For Compliance Use Only

0299062 Ed. 12/2016 0299062-00002-00