Prudential is the only leading insurance carrier that does not place restrictions on conversions. While some remove restrictions for an additional cost, Prudential’s flexibility means there’s no extra charge for Pru term to Pru perm conversion. Prudential allows conversion at any time during the conversion period—without a medical exam. What’s more, many of Prudential's permanent policies offer the BenefitAccess Rider (BAR), an optional chronic illness rider.
Age Last Birthday Pricing
An advantage to Prudential’s underwriting is that they use age last birthday to calculate premiums. This means potential savings on annual premiums for the clients. For example, many other companies calculate premiums at age nearest birthday. So, a client who is age 59½ plus one day will get age 60 rates. Prudential would calculate at age 59.
An Accelerated Death Benefit Rider—At No Extra Charge
The Living Needs BenefitSM (LNB) is one of the most robust accelerated death benefit riders offered in the industry. It’s critical component of Prudential’s term policies because it pays a portion of the death benefit early, while the insured is still alive, but terminally ill, it also goes on to providing superior value. LNB also covers permanent confinement to a nursing home and life-saving organ transplant procedures. LNB can be a valuable resource as the money can be used in any way the client chooses. In approved states, up to 100% of the death benefit can be accelerated.