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What is a Term Life Insurance Policy? Help secure your family’s financial future with easy, affordable protection

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What does Term Life Insurance cover?

Simply put, it’s an affordable way to provide the protection of a death benefit for your family for a set period of time. It also offers several other advantages:

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Choice

You choose the “term” (the level premium paying period) as well as your payment schedule—monthly, quarterly, bi-annually or annually.

Consistency

Your payments stay the same for the entire term. Once the level premium paying period ends, you can continue paying (typically annually increasing premiums to a certain age) or stop paying and no longer have coverage.

Tax Protection

If you die during the time you’re covered, your beneficiaries receive the death benefit, typically income-tax free (per IRC §101(a)).

Flexibility

You can convert a term life insurance policy into a permanent policy which can potentially cover you for life—no additional medical exam is needed during the conversion period.

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Voted best life insurance company overall by investopedia.com

December 2020

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What Term Life Insurance does Prudential offer?

Prudential’s carriers, Pruco Life Insurance Company and Pruco Life Insurance Company of New Jersey, offer a variety of competitively priced policies, each providing valuable protection for you at every stage of your life.

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SimplyTerm

SimplyTerm is affordable coverage that can be purchased through a fully digital process making it straightforward to protect the people you love. The death benefit from this product can be used for any purpose. There are no restrictions.

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Term Essential®

One of our most affordable term life insurance products. Term Essential can help ensure your loved ones carry on after you’re gone. The death benefit can be used for any purpose with no restrictions.

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PruTerm OneSM

PruTerm One offers coverage one year at a time, which can be ideal for a small business owner paying off a short-term loan or for certain advanced planning needs. So, with this policy you avoid paying for longterm coverage that you may not need.

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Riders for Term Life Insurance Policies

Term Essential offer the same optional features or riders*:

  • Living Needs BenefitSM can accelerate your death benefit if you become terminally ill.
  • Accidental Death Benefit provides an additional death benefit if you are in an accident that causes your death.
  • Waiver of Premium helps keep your policy intact if you become disabled.
  • Children’s Protection Rider adds life insurance coverage for your minor children.

In addition, Pru Term One offers the Living Needs BenefitSM if you become terminally ill.

* Riders (except Living Needs Benefit) are available for an additional cost.

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What if my life insurance needs change?

A Term Life Insurance policy from Prudential offers flexibility that can provide a lifetime of security. Your term life policy can be converted to any of our permanent life insurance policies, without the need for a medical exam during the conversion period.

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Learn more about Prudential Term Life Insurance policies.

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Explore your options No matter your life insurance needs, we’ve got you covered.

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Universal Life Insurance

Offers a death benefit with no lapse while providing flexibility with premium payments and the potential to build cash value—and crediting a minimum interest rate.

Indexed Universal Life Insurance

A policy with cash value growth potential that offers a death benefit with no-lapse guarantees and various crediting options, so it can help you while you’re still living as well as providing for loved ones after you die.

Variable Universal Life Insurance

Offers a death benefit with no-lapse guarantees and has the greatest potential to build cash value compared with other permanent policies, but cash value fluctuates with investment performance results.

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Footnote

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

  • The Living Needs BenefitSM: ORD 87241-90-P or ORD 87335-90 (Not available in WA.)
  • Waiver of Premium: Term Essential: TB 100-2000; there may be state variations.
  • Accidental Death Benefit: Term Essential: TB 113-2000 (Not available in MA.) 
  • Children’s Protection Rider: Term Essential: TB 182-2000; TB 184-2000 for after issue. There may be state variations.

Simply Term (ICC20 SIMPT-2020 or SIMPT-2020), PruTerm One (ICC17 PART-2017 or PART-2017),  and Term Essential (ICC19 PLTIC-2019 or PLTIC-2019) 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. Variable policies are offered through Pruco Securities, LLC (member SIPC). All are Prudential Financial companies located at 213 Washington Street, Newark, NJ. Each is solely responsible for its own financial condition and contractual obligations.

You should consider the investment objectives, risks, and charges and expenses carefully before investing in the contract and/or underlying portfolios. This and other important information can be found in the prospectus and, if available, the summary prospectus. A copy of the prospectus may be obtained from www.prudential.com [or from a financial professional]. You should read the prospectus carefully before investing. It is possible to lose money by investing in securities.

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.

 

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For Compliance Use Only 1004572-00011 Ed. 10/2021