Prudential Life
Insurance Review
Prudential Life Insurance is known for their high quality whole life insurance polices. However many people don't know that Prudential Insurance also has a number of affordable term life insurance polices that can easily be converted to a whole life insurance policy at a later date.
If you are considering a whole life insurance policy but are concerned with the high cost of these plans then Prudential Life Insurance is a good option.
If you are looking for a cheaper term life insurance option or other types of life insurance choices then use our
Life Insurance Company Review
to find information on other quality life insurance companies.
Prudential Term Life
Insurance Policies
Prudential Insurance offers three term life insurance polices that can ultimately be converted into a whole life insurance policy.
The TERM ESSENTIAL Plan is the cheapest policy and covers you for a 5, 10, 15, 20-30 period. The policy is fairly priced and gives you the option to convert to a whole life insurance policy. The downside is that you do not receive any benefits for your past term life payments when you convert to the whole life insurance plan.
The TERM ELITE Plan is slightly more expensive and offers the same traditional coverage. However your recaptured benefits upon conversion to the whole life insurance policy are more favorable. If you convert to the whole life insurance policy within the first five years, you will receive a credit that is applied to the first year’s whole life insurance plan's premiums.
If you are truly committed to eventually purchasing a whole life insurance plan then the PRULIFE RETURN OF PREMIUM TERM Plan is a sound option. This is the best conversion plan they offer in terms of recapturing prior term life insurance payments.
With the PRULIFE RETURN OF PREMIUM TERM Plan all out of pocket premium expenses are guaranteed to be returned to you at the end of your level premium period. This plan allows you to protect your family with a cheaper term life plan. Then when you are ready you can switch to the whole life insurance plan and still get the benefit from your prior term life payments.
Prudential Whole Life Insurance
Prudential Life Insurance offers two traditional whole life insurance options. They call their whole life insurance polices "Universal Policies"
Both of these policies have flexible payment options. This company is one of the few national insurers that allow users to control premium payment levels on whole life insurance products.
When you lower the premium amount the investment portion of your plan is decreased accordingly. However, you will still receive life time protection and then when your financial position improves you can regain focus on the investment content of your plan.
They also have a variable life insurance option that offers aggressive investment options. This is a great way (and one of the only ways) for wealth individuals to make before tax investments.
The Survivorship life insurance plan is another aggressive investment option for the wealthy. This policy allows a greater portion of your life insurance premium to be applied towards an investment vehicle. It also pays out a death benefit on two people.
Prudential Insurance is a good option if you need a quality whole life insurance policy. There convertible term life insurance polices are also a very useful platform to save money, receive great protection, and then ultimately switch to a high quality whole life insurance policy.
Other national life insurers do not offer these types of high quality converting plans.
If you are looking for a cheaper term life insurance policy or other types of hybrid life insurance plans then you should use our
Life Insurance Company Review
to find other life insurance companies that can better accommodate these needs.
Also feel free to visit the official
Prudential Life Insurance
website for additional information.
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