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Last updated on Apr 03, 2020

Prudential Life Insurance Review

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Prudential

  • Reputable, experienced, and well-known insurance company
  • Widespread coverage with customized riders
  • No whole life insurance
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How We Reviewed Prudential Life Insurance

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7 companies compared

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2 features evaluated

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5 ratings analyzed

Prudential Life Insurance Review

Prudential offers a host of life insurance options to meet a wide audience. With some policies allowing you to skip a medical exam at sign-up, Prudential uses technology and innovation to its advantage. Its online platform, in particular, allows for greater convenience and higher transparency with your policy management. However, while Prudential does what you hire it to do, don’t expect high levels of customer service. It scores about average for customer service in J.D. Power studies; instead of face-to-face interaction, its mobile tools allow for greater autonomy and initiative than you might be used to, allowing you to take control of your policy yourself.

Sign-up is slow to start, but once approved, you have plenty of options for term life insurance to easily customize your policy to your circumstances and future plans. Be aware that it does not offer whole life insurance; therefore, it’s not the best option if you’re looking for lasting coverage.

ProsCons
Online features
Good for complicated medical histories
Competitive riders
Slow application processing
Average customer satisfaction

The Life Insurance Factors We Analyzed

Customer experience

Prudential has a shaky reputation with customer service. The National Association of Insurance Commissioners (NAIC) reports that the company received more than the average number of complaints for a company of its size in 2018, and J.D. Power gave it a mediocre score of just three out of five for overall customer satisfaction.

Customers face lengthy turnaround times for application processing, but online tools like claims processing, beneficiary filings, and quick access to account information all help with policy management. Prudential will also allow your beneficiary easy access with online processing.

A brief glimpse at the Prudential online quote process

Coverage and rider information

Prudential specializes in diverse term and universal life policies, and one unique benefit is that Prudential’s survivorship policy allows for two people on a single policy that grows in value over time. Riders allow for more coverage, like a disability waiver, child protection rider, and accelerated death benefit rider. Some Prudential policies will even return premiums paid at the end of the term should the policyholder still be alive at that time.

The main drawback of Prudential is that while it offers a few vehicles to grow a cash account through its universal life policies, it lacks any options for traditional whole life insurance. Whole life insurance is best for people who want coverage for their whole life, with a cash value account that may be accessed during life; if this sounds like you, you may be better off with a company like Northwestern Mutual or State Farm.

Life insurance coverage features

Insurance types offeredTerm, universal, indexed universal, variable universal, survivorship universal, variable universal
Term lengths offered10, 20, or 30 years
Standout coverage featuresWidespread, flexible coverage
No medical exams for some policies
Coverage for policyholder’s minor children
Disability credit
End-of-term credit for premiums paid
Short-term coverage options

Prudential Life Insurance Overview: Financial Strength, Availability, and History

Today, Prudential is one of the country’s oldest and largest life insurance companies. It has over 140 years of experience and millions of customers nationwide. With that said, it holds only a C- rating from the Better Business Bureau (BBB) and was given a score of just over three out of five by Consumer Affairs. With high ratings from credit agencies, there is no real issue with payouts, though its customer service as a whole may fall slightly short.

  • In business since: 1875
  • S&P Global financial strength rating: AA-
  • Moody’s financial strength rating: A3
  • AM Best financial strength rating: A+
  • States served: 50 plus Washington, D.C.

The Competition

RankReviews.com ScoreCustomer Experience
Score
Financial Strength Score
Prudential122.8/52.3/54.3/5
Prudential14.9/55/54.7/5
Prudential24.8/55/54.3/5
Prudential34.5/54.3/53.7/5
Prudential44.4/54.3/54.7/5
Prudential54.25/54.3/54/5
Prudential64.2/53.7/54.3/5

All information accurate as of February 5, 2020.

The Bottom Line

Prudential offers term life insurance in addition to universal, indexed, and variable life insurance to provide unique coverage. Prudential was the first major insurance company to offer coverage for those living with HIV, meaning it may be worth looking into if you have a complicated health history. Prudential may not be the best fit for you if you are not technologically savvy or prefer a representative for customer support, as customer service ratings are about average, but it could still be worth getting a quote to see what the company can offer you.

Prudential Life Insurance FAQ