Types of Life Insurance
When deciding which type and amount of life insurance is right for you, you'll need to answer these important questions:
What do you want the insurance to cover?
What amount of coverage do you need?
How long will you need the coverage for?
What's your budget?
Understanding the Different Types of Life Policies
Answering those questions can help you understand which type of life insurance would work for your situation.
The two main types are:
- Term, which provides temporary coverage.
- Permanent, which provides coverage for the rest of your life.
Within both of these main types of life insurance are different types of policies.
The table below outlines various types of policies, including different types within term and permanent life, and what they typically offer. For more information on a specific type, click its name.
Life insurance is issued by The Prudential Insurance Company of America, Pruco Life Insurance Company (except in NY and/or NJ), and Pruco Life Insurance Company of New Jersey (in NY and/or NJ). Securities are offered through Pruco Securities, LLC. Each is a Prudential Financial company located in Newark, NJ, and each is solely responsible for its own financial obligations. 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. All guarantees are based on the claims-paying ability of the issuer and do not apply to the underlying investment options, if any. Unpaid loans and withdrawals will cause a reduction in cash values and death benefits and may have tax consequences. All benefits, riders, and product features may not be available in all states. Additional limitations may apply based on age and underwriting. Some riders are available at an additional cost.
For variable policies, 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 information 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.
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