- * Subject to the terms and conditions of the rider.
About the No-Lapse Guarantee.
Generally, the more premiums you pay, the longer the guarantee will last. The length of the guarantee will vary and may or may not keep your policy in effect for the length of time you want. The guarantee is based on several factors, including:
- The amount and timing of your premium payments.
- How often you pay premiums.
- Whether you take any policy loans or withdrawals.
Please note that, by paying only the premium required for the guarantee, you may be forgoing the potential to build tax-deferred cash value. While these policies offer the potential to build cash value, this is not their primary purpose.
Canceling your policy.
If you choose to cancel your policy within a certain number of years, you will incur a surrender charge. For UL Protector, these charges apply for the first 20 years; for SUL Protector, they apply for the first 19 years; for Essential UL, they apply for the first 14 years, but may apply for a shorter amount of time at older ages. The surrender charges may reduce the policy's cash surrender value in early years. The policy's cash surrender value is the accumulated value less the surrender charges and any outstanding loan. Other charges include, but are not limited to, premium-based administrative charges and monthly charges, including the cost of insurance.
About accessing cash value.
Life insurance policy cash values are accessed through withdrawals and policy loans. Loans are charged interest; they are usually not taxable. Withdrawals are generally taxable to the extent they exceed basis in the policy. Loans that remain unpaid when the policy lapses or is surrendered while the insured is alive will be taxed immediately to the extent of gain in the policy. Unpaid loans and withdrawals reduce cash values and death benefits; they may also reduce the duration of the guarantee against lapse, which may lapse the policy; and may have tax consequences. For policies that are Modified Endowment Contracts (MECs), distributions (including loans) are taxable to the extent of income in the policy; an additional 10% federal income-tax penalty may apply. Consult your tax advisor for advice about your own situation.
Rider availability varies by product and state. The rider form numbers may be followed by a state code:
The Living Needs BenefitSM: PruLife Universal Protector, PruLife Essential UL: ORD 87241-90-P (Not available in WA)
BenefitAccess Rider: The rider form number varies by underlying insurance product and is VL 145 B4-2016 (NY only), VL 145 B-2013 (CA only), VL 145 B5-2017, or ICC17 VL 145 B5-2017.
Enhanced Disability Benefit: PruLife UL Protector: VL 100 B-2016 or ICC16 VL 100 B-2016; PruLife Essential UL: VL 100 B-2017 or ICC 17 VL 100 B-2017
Children Level Term Rider: PruLife Universal Protector: VL 184 B-2016 and ICC16 VL 184 B-2016; PruLife Essential UL: VL 182 B-2005
Accidental Death Benefit: PruLife Universal Protector, PruLife Essential UL: VL 110 B-2000 (Not available in MA)
Overloan Protection Rider: PruLife Essential UL: PLI 552-2017 or ICC17 PLI 552-2017
Enhanced Cash Value Rider: PruLife Essential UL: PLI 496-2014 or ICC14 PLI 496-2014
Guaranteed Policy Split Rider: PruLife SUL Protector: ICC15 PLI 493-2015 or PLI 493-2015
Estate Protection Rider: PruLife SUL Protector: ICC15 VL 194 C-2015 or VL 194 C-2015
PruLife Universal Protector (ICC16 ULNLG-2016, ICC16 ULNLGA-2016, or ULNLGA-2016), PruLife Essential UL (EULPR-2018, ICC17 EULPR-2018), and PruLife SUL Protector (SULPR-2017 or ICC17 SULPR-2017) are issued by Pruco Life Insurance Company except in New York, where they are issued by Pruco Life Insurance Company of New Jersey. All are Prudential Financial companies located in 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.
Our policies contain exclusions, limitations, reductions in benefits, and terms for keeping them in force. We can provide you with costs and complete details.
For Compliance Use Only
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