Overview
Prudential Financial, Inc is an American Fortune Global 500 company that was founded in Newark, New Jersey in 1875 by John F. Dryden. The products and services they offer include life insurance, annuities, retirement-related services, securities brokerage services, mutual funds, and investment management. Their focus on insurance, investment management, and other financial products and services are for both retail and institutional customers.
Size & Operation
Prudential Financial has over $1.7 trillion in assets under management now and aover $4 trillion of gross life insurance in force worldwide now according to its company fact sheet (Prudential Financial, 2021). It has over 41,000 employees and sales associates and operates through its subsidiaries to serve institutional and individual customers in more than 40 countries. Prudential Financial, Inc Common Stock has traded on the New York Stock Exchange under the symbol ?PRU? since 2001.
Products & Services
Life Insurance Product
Q: What life insurance does Prudential Financial offer to individuals?
Prudential Financial offers term life insurance, universal life insurance, indexed universal life insurance and variable life insurance for individuals as listed below.
Term Life Insurance
Term life insurance guarantees payment of a stated death benefit to the insured’s beneficiaries if the insured person dies during a specified term. Prudential?s term life policies are priced with competitive rates and are designed to be flexible when life changes.
- SimplyTerm (Only Death Benefit+Business)
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.
- Term Essential
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.
- Term Elite
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.
- PruTerm One
PruTerm One is unlike a lot of policies because it offers coverage one year at a time.
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.
Universal Life Insurance
Universal life (UL) insurance is a form of permanent life insurance with an investment savings element plus low premiums, which can accumulate cash value. Each of Prudential?s UL can provide optional features, called riders, to tailor the policy to best meet consumers? needs.
- PruLife Essential UL
PruLife Essential UL can help you do just that. It provides a death benefit for your loved ones.
PruLife Essential UL also has features that are designed for you to use while you?re living. These benefits include cash value accumulation and access to optional living benefits.
- PruLife-SUL Protector
SUL Protector covers two lives and will pay a death benefit when the second insured dies. The policy has a death benefit guarantee like UL Protector. It can be used to help protect and pass on your wealth to your heirs or a charity with a generally tax-free benefit (according to IRC