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Lifetime Protection Guaranteed
Prudential Guaranteed Life is an ideal policy for those who want a completely guaranteed whole life insurance policy. The death benefit it provides can be used to pay off a mortgage or business loan, help your child attend the college you both dreamed about, enable your spouse to retire in the style you've planned, or simply pay funeral expenses.
It is affordable, lets you choose an insurance amount from $25,000 to $10 million, 4 and offers:
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Policy Features
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Prudential Guaranteed Life has a guaranteed death benefit that is payable to your beneficiaries as long as all premiums have been paid when due and there are no outstanding loans, which will reduce the death benefit.1
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A guaranteed level premium to age 85 gives you the security of knowing what your premiums will be year after year, regardless of your age or situation.
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Although the primary reason for buying life insurance is the death benefit it provides, the policy will also build guaranteed cash value, tax deferred. To benefit you while you're alive, you can borrow against that cash value to help meet future goals such as helping to pay off a mortgage or to supplement retirement income. Loans can have tax consequences and, if still outstanding when you die, will reduce the death benefit payable to your beneficiaries.2
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You can choose the method and timing of billing you prefer:
- Annual
- Semiannual
- Quarterly
- Electronic Funds Transfer (EFT)
- Payroll Budget
- Government Allotment
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The following riders and additional benefits are available to help you tailor your policy to your specific needs. Some riders may require additional premiums, and some are not available in all states.
Living Needs BenefitSM:
A long illness that precedes death can be financially devastating to loved ones. For no additional premium, this valuable rider can help relieve some of the financial strain by enabling you to receive part of the death benefit while you are alive if you become terminally ill, are confined to a nursing home, or need a vital organ transplant and meet certain criteria. (The rider form number is ORD 87241.) This rider is not available in Massachusetts. 3
Children Level Term Rider:
You can provide temporary insurance protection for your eligible children. The insurance coverage available with this rider offers level premiums, a level death benefit, and an option to convert to any permanent policy up to five times the rider's face amount, without evidence of insurability. This option may be exercised at specified times, until a child reaches age 25. This rider can help them begin their own life insurance program. This rider is available for an additional premium. (The rider form number is MSB 182-98.)
Waiver of Premium:
A disability can put a financial strain on everyone's budget. To ensure your policy will not lapse during a period of disability, this benefit waives your premium payments should you become totally disabled, under the terms of your policy, for at least six months (waiting period). This benefit is available for an additional premium. (The rider form number is MSB 110-95.)
Accidental Death Benefit:
An accidental death can be especially devastating. To help your loved ones, this rider will pay your beneficiaries an additional death benefit if your death is accidental as defined in the rider. This benefit is available for an additional premium. (The rider form number is MSB 110-2000.)
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Prudential Guaranteed Life is issued by The Prudential Insurance Company of America. Today, Prudential and its affiliates help to meet the insurance and financial security needs of millions of people worldwide. You can rely on Prudential to deliver on their promises.
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1 Prudential may have the right to contest the policy for misrepresentation or to apply a suicide clause.
2 Loans are at interest. Loans outstanding at policy lapse or surrender prior to death of the insured will cause immediate taxation to the extent of gain in the contract. For policies that are modified endowment contracts, distributions (including loans) are taxable to the extent of gain in the contract, and there may be an additional 10% federal income tax penalty on the taxable portion of distributions taken prior to reaching age 59½. Neither Prudential nor its financial professionals render tax advice. Please consult your tax adviser regarding your particular situation.
3 When a claim is paid under this rider, the eligible death benefit amount is reduced and a $150 processing fee is deducted. Each policy on which a Living Needs Benefit is paid for the same claim will have an additional processing fee of up to $150. Receipt of the accelerated death benefit may be taxable; please consult your personal tax adviser. Receipt of the accelerated death benefit may affect eligibility for public assistance programs. The Living Needs Benefit is not available in Minnesota to new purchasers over age 65 until the policy has been in force for one year, and the nursing home option is not available in New York or the District of Columbia. Availability and terms vary by state.
4 Face amounts are subject to Prudential's retention limits. Face amounts in excess of Prudential's retention limits will be considered, on a case-by-case basis, subject to the availability of reinsurance.
Life insurance policies contain exclusions, limitations, reductions of benefits and terms for keeping them in force. Your licensed financial professional can provide you with costs and complete details.
This material is designed to provide general information about Prudential Guaranteed Life and is not a contract. This material is not intended to provide legal or tax advice. Consult your own professional advisers on how any product discussed may benefit your particular situation and how best to utilize any such product.
All guarantees are based on the claims-paying ability of The Prudential Insurance Company of America, 751 Broad Street, Newark, NJ 07102 (California Certificate of Authority 1179).
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