Per the National Association of Insurance Commissions, all life insurers are required to adopt the new principle-based reserves (PBR) framework.

Effective October 28, 2019, the overall average increase for Term Essential is 1.9%. Term Elite will also experience some increases. This includes terms for 15, 20, and 30 years; there is no increase for 10-year terms. Prudential term products remain competitive and aren’t expected to experience changes for the remainder of the year.

Prudential’s Term Essential and Term Elite deliver some of the greatest value from a company and brand clients know and trust:

  • Face amounts to cover the varying needs of clients
  • Opportunity to convert to ANY of Prudential’s 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 BenefitSM,1, one of the most robust accelerated death benefit riders offered in the industry. It pays 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 life-saving organ transplant procedures.

Term Essential Transition Period – Rate Basis Automation
There is no longer a need for a financial professional to request the lower-priced premium during the October transition period. Through “Rate Basis Automation,” Term Essential applications (for either the old product or the new product) received during the transition period will be priced with a premium based on the lesser of the two–automatically.

Securities offered through The Leaders Group, Inc. Member FINRA/SIPC 26 W. Dry Creek Circle, Suite 800, Littleton, CO 80120, 303-797-9080.

GBS Insurance and Financial Services, Inc. is not affiliated with The Leaders Group, Inc. You may check the background of investment professionals on FINRA Broker Check

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