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Variable Universal Life Insurance Policies Take control of your family’s financial future with permanent protection and potential cash value growth

Have a financial professional contact you  Please click to be contacted by a Prudential Financial Professional for all your Life Insurance questions and needs.

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What Is Variable Universal Life Insurance?

Variable universal life insurance offers protection as well as the potential to build cash value through underlying investment options. After you die, your variable universal life insurance policy can help meet the financial needs of the people you love. It may also help meet your needs while you're still living. It could be a good fit if:

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Protection

You may want long-term coverage including up to your lifetime when all premium requirements are met to provide for your family.

Cash growth & access

You want greater cash value growth potential with access to the cash value through withdrawals or loans.1

Reward for risk

You’re willing to take on more risk for potentially higher returns.

Control

You want to actively manage your policy’s underlying investment options.

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How Does Variable Universal Life Insurance Work?

To build cash value, you can make payments beyond the cost of insurance and other charges/expenses. This money is placed into underlying investment options including equity, bond, and money market portfolios. Any cash value growth within your policy is tax-deferred.

  • You select, based on your goals, time frame, and comfort level with risk, from the underlying investment options available through your variable universal life insurance policy.
  • Depending on the performance of your selected investments, the cash value of your policy can either increase or decrease.
  • You can access the policy's cash value for personal use (e.g., home purchase) through loans and/or withdrawals.1
  • You'll take on a more active role than with other types of policies, periodically checking investment options' performance and making adjustments as needed.

Our financial professionals can help you decide if this policy is right for you, and determine your tolerance for risk and the options that may be right for you.

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What Variable Universal Life Insurance Policies
Does Prudential Offer?

Prudential offers three variable universal life insurance policies, through our carriers, Pruco Life Insurance Company and Pruco Life Insurance Company of New Jersey, each aligned to different financial goals. Along with providing a death benefit, each policy offers flexible premium payments (provided you meet certain minimums), optional riders you can use to tailor your coverage, and a no-lapse guarantee that can provide guaranteed coverage as long as sufficient premiums are paid, and other guarantee requirements are met.

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VUL Protector

If your family’s protection is your primary goal, and you’re comfortable accepting moderate investment risk in pursuit of moderate returns, this variable universal life insurance policy may be a good fit. This policy offers a no-lapse guarantee that can provide guaranteed coverage as long as sufficient premiums are paid, and other guarantee requirements are met.

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PruLife® Custom Premier II

If your focus is on long-term growth, and you’re willing to take on a higher level of risk for the potential of higher returns, you should consider this variable universal life insurance policy.

To provide protection from lapse in the early years—when your policy may not have enough value to take on any downturns in your selected underlying investment options—this policy offers two no-lapse guarantee periods that can provide guaranteed coverage as long as sufficient premiums are paid, and other guarantee requirements are met:

  • Short Term – For ages 0 — 59 years, it's 8 years. For ages 60+, it's 6 years.
  • Limited­­ ­– To age 75 or 10 years, whichever is later.

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PruLife ® SVUL Protector SM

If your desire is to leave a legacy for the next generation, your favorite charity, or a family business, this variable universal life Insurance policy can help you reach your goal.

This survivorship policy offers coverage for two people, paying the death benefit after both have died. The amount of risk you take on and potential reward depend on the underlying investment options you select.

To help protect your coverage, regardless of your policy’s cash value, this policy also offers a no-lapse guarantee that can provide guaranteed coverage as long as sufficient premiums are paid, and other guarantee requirements are met.

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Riders for Variable Universal Life at Prudential

If you’re looking to customize your policy to better fit your needs, VUL Protector and PruLife Custom Premier II offer these optional features, called riders:*

  • Living Needs Benefit and BenefitAccess Rider can provide living benefits if you become terminally ill. BenefitAccess Rider also provides benefits if you become chronically ill.
  • Enhanced Disability Benefits help protect your policy from lapsing if you become disabled.
  • Accidental Death Benefit Rider provides an additional death benefit to your family if you die by accident.
  • Overloan Protection Rider allows you to avoid a lapse in coverage if you take substantial loans from your policy.
  • Enhanced Cash Value Rider offers higher cash surrender values if you need to giveup your policy in the early years. (Primarily for business owners.)
  • Children Level Term Rider adds life insurance coverage for your minor children.

SVUL Protector offers:

  • Survivorship BenefitAccess Rider allows acceleration of the death benefit for a terminal or chronic illness.
  • Enhanced Cash Value Rider offers higher cash surrender values if you need to give up your policy in the early years. (Primarily for business owners.)
  • Guaranteed Policy Split Rider provides the option to split the policy into two individual policies in the event of divorce or if the unlimited marital deduction is repealed.
  • Overloan Protection Rider allows you to avoid a lapse in coverage if you take substantial loans from your policy.
  • Estate Protection Rider increases the death benefit by up to 100% if both people on the policy die before the fourth policy anniversary.


*Riders (except Living Needs Benefit and Guaranteed Policy Split Rider) are available for an additional cost.

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Learn More About Prudential Variable
Universal 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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Term Life Insurance

Offers affordable death benefit protection for a set period of time with the option to convert your policy (during the conversion period) to one of our permanent solutions should your circumstances change.

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.

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Footnote

  • 1 Loans are charged interest; they are usually not taxable. Withdrawals are generally taxable to the extent they exceed basis in the policy. Unpaid loans and withdrawals: reduce cash values and death benefits; may reduce the duration of the guarantee against lapse, which may lapse the policy; and may have tax consequences.

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 VUL Protector and PruLife SVUL Protector, these charges apply for the first 14 years (9 years in NY only); for PruLife Custom Premier II, they apply for the first 10 years. The surrender charges, which decline over these years, reduce the policy’s cash surrender value. 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.

Other important information.

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

PruLife Custom Premier II, VUL Protector, and PruLife SVUL Protector are issued by Pruco Life Insurance Company in all states except New York, where they are issued by Pruco Life Insurance Company of New Jersey, and offered through Pruco Securities, LLC (member SIPC). All are Prudential Financial companies located in Newark, NJ. Each is solely responsible for its own financial condition and contractual obligations. They are also offered by broker-dealers who have an agreement with Pruco Securities, LLC. The PruLife Custom Premier II contract number is VUL-2018 or ICC18 VUL-2018. The VUL Protector contract number is ICC21 VULPR or VULPR-2021 and may be followed by a state code. The PruLife SVUL Protector contract number is SVULPR-2020 or ICC20 SVULPR-2020 and may be followed by a state code. SVUL Protector 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.

Please consider the investment objectives, risks, and charges and expenses carefully before investing in the contract and/or underlying portfolios. The prospectus and, if available, the summary prospectus contain this, as well as other important information. You can obtain a copy of the prospectus here. You should read the prospectus carefully before investing.

It is possible to lose money by investing in securities.

Riders

Rider forms and their availability can vary by product and state. Rider form numbers may be followed by a state code:

  • Living Needs BenefitSM: ORD 87241‐90‐P for PCPII & VUL Protector. (Not available in WA.)
  • BenefitAccess Rider:  PCPII (ICC18 VL 145 B6-2018 or VL 145 B6-2018), VUL Protector (ICC17 VL 145 B5‐2017 or VL 145 B5‐2017).
  • Survivorship BenefitAccess Rider: ICC18 VL 147 SB1-2018 or VL 147 SB1-2018. (Not available in NY or CA.)
  • Accidental Death Benefit: VL 110 B‐2000 for PCPII & VUL Protector (Not available in MA.)
  • Children Level Term: PCPII & VUL Protector (ICC16 VL 182 B-2016 or VL 182 B-2016).
  • Enhanced Disability Benefit: PCPII & VUL Protector (ICC17 VL 100 B‐2017 or VL 100 B‐2017). 
  • Enhanced Cash Value: SVUL Protector, VUL Protector & PCPII (ICC18 PLI 496-2018 or PLI 496-2018). (Not available in NY.)
  • Overloan Protection: PCPII, VUL Protector & SVUL Protector (ICC17 PLI 552‐2017 or PLI 552‐2017 or PLY 141-2017).
  • Rider to Provide Lapse Protection: SVUL Protector (ICC20 PLI 551-2020, PLI 551-2020, or PLY 140-2020),
    VUL Protector (ICC18 PLI 522‐2018, PLI 522‐2018, or PLY 126-2018 NYA).
  • Estate Protection Rider: SVUL Protector (ICC15 VL 194 C‐2015 or VL 194 C‐2015).
  • Guaranteed Policy Split Rider: SVUL Protector (ICC18 PLI 493‐2018 or PLI 493‐2018).

 

1007021  Ed. 06/2021
For Compliance Use Only: 1007021-00005-00