Effective January 9, 2023, Term Essential rates will be reduced by an average of 9%. This means that you can offer more affordable life insurance protection to clients.

In addition to the reduced pricing, Prudential’s Term Essential delivers great value from a company that clients know and trust:

  • Face amounts to cover the varying needs of clients
  • Opportunity to convert to ANY of Prudential’s currently sold permanent products to help meet changing protection needs
  • Age last birthday pricing; this may mean lower premiums for clients
  • Consistent and strong underwriting
  • Speed and convenience through emerging eCapabilities
  • Living Needs benefits, one of the most robust accelerated death benefit riders offered in the industry. It advances a portion of the death benefit while the insured is still alive but terminally ill, is permanently confined to a nursing home, or has undergone lifesaving organ transplant procedures

Transition Rules

IMPORTANT DATES (subject to state approval)

  • January 8, 2023 (Last Day for Old Rates): Last day that an application can be signed with a request for Old Rates. The inventory of cases with a sign date of January 8th or prior will have a price compare performed at policy issue. The policy will be updated to the new rates if lower at the time of underwriting approval.
  • January 9, 2023 (Ready to Sell Date): New Rates for the repriced product are in effect. All applications signed and dated1 on or after January 9, 2023, will receive New Rates.
  •  January 13, 2023 (Home Office Receipt Date): Last day that an application can be received in the Home Office with Old Rates.
  •  March 10, 2023 (Placement Date): Last day that a pending case can be placed with old rates. All delivery requirements must be received in good order by end of business day (4 PM EST).

Updates to applications as part of establishing a trust or finalizing the ownership arrangement can be made after the application deadlines outlined in the transition rules. However, these cases must still meet the application deadlines for the original application and comply with all other deadlines outlined in the transition rules.


Informal/Inquiry Applications
Informal/Inquiry applications will not be eligible for Old Rates unless replaced by a live application by the “Last Day for Old Rates” deadline outlined in the transition rules.


  • Requests for New Rates are subject to all of the deadlines outlined in the transition rules.
  • New application submissions cannot be backdated greater than 6 months prior to the application signed date.
  • Important Note: No application or request to change to new rates can be backdated greater than 6 months prior to their State’s Ready to Sell Date.


Read Announcement | Read Transition Rules

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