Prudential Life Insurance Review
How We Reviewed Prudential Life Insurance
7 companies compared
2 features evaluated
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.
Good for complicated medical histories
Average customer satisfaction
The Life Insurance Factors We Analyzed
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.
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 offered||Term, universal, indexed universal, variable universal, survivorship universal, variable universal|
|Term lengths offered||10, 20, or 30 years|
|Standout coverage features||Widespread, flexible coverage
No medical exams for some policies
Coverage for policyholder’s minor children
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.
All information accurate as of February 5, 2020.