Company Overview

Chances are that you are familiar with Prudential Insurance and may even recognize its ‘Rock of Gibraltar’ logo and its popular company slogans, “Own a Piece of the Rock” and “Strength of Gibraltar.” Prudential is a well-known and trusted name in the Life Insurance Industry. It was originally founded in 1875 in Newark, New Jersey as The Widows and Orphans Friendly Society by John F.

Dryden, who went on to become a U.S. Senator. The company originally only sold burial insurance.

The Prudential Insurance Company of America is a subsidiary of Prudential Financial, Inc. It is a Fortune 500 company distributing its life insurance, financial and investment management products throughout the U.S. and in more than 30 countries. It is the second largest life insurer in the U.S.

Prudential has through its U.S. operations alone an operating income of over $41 billion. The company headquarters is located at Prudential Plaza, Newark, New Jersey and there are over 47,000 employees nationwide. In the beginning, Prudential was a mutual insurance company and went on to become a joint stock company. Now, it is traded on the New York Stock Exchange under the symbol PRU. The Chairman and CEO is John Strangfeld.

Financial Stability

To protect your family’s future, you want a life insurance company that you can depend on and trust in its ability to pay any claims presented. The Prudential Insurance Company of America has excellent financial strength ratings including ratings from the following insurance rating organizations:

• A.M. Best – A+ (Superior)
  
• Moody’s Investor Service – A1 (Good)
  
• Standard & Poor’s (S&P) – AA- (Strong)
  

Life Insurance Products

Term Life Insurance: With a term life insurance policy, you are buying protection for a certain number of years. With Prudential’s term life policy, you can choose the length of coverage you need including 10, 15, 20 and 30 year policy term limits.

Your policy premium is guaranteed not to increase during the level-premium period. The level-premium period varies with different types of policies. A benefit of the term life policy is that you can convert this policy to a permanent policy without having to undergo a new medical exam.

You may customize your policy to include coverage for your children while they are still young and add an option to pay additional benefits if you die as the result of an accident for an additional charge. Some policy options allow you to borrow against your life insurance policy or receive a cash back benefit after you reach a certain age.

Universal Life Insurance: The universal life insurance policy is for long-term protection with options for insuring multiple people under one policy. The universal life insurance policy has a guaranteed death benefit no matter when you die and you can also add your children to the policy while they are still young at an additional charge.

The policy has the option to create a plan to care for a loved one who has special needs. Some options of this policy provide a supplemental income option where you can receive distributions from your life insurance policy as a way to add to your retirement income. You can add an option to have your premiums paid if you become disabled for an additional cost.

Variable Universal Life Insurance: Variable life insurance policies offer you the potential to build cash value to your life insurance policy. The variable life insurance policy options offer a guaranteed death benefit no matter when you die. This option offers you the potential to grow the cash back value of your life insurance policy. This policy also allows you to add optional protection options such as additional benefits if you die as the result of an accident.

Pros & Cons

Pros

• Excellent financial strength ratings
  
• Ability to receive a life insurance quote online
  
• Helpful tools on website such as life insurance needs estimator and payment option APR calculator
  
• Flexible policy and premium payment options
  

Cons

• There are no whole life insurance policy options.
  

Contact Information

To learn more about Prudential Insurance, its life insurance and other financial products, you can visit the Prudential website. For life insurance customer service, you can call (800) 778-2255, Monday – Friday, 8 a.m. to 8 p.m. Eastern Standard Time.