What's New with Term Essential & Term Elite in 2009?
01-26-2009
The following changes apply to Term Essential® & Term Elite®
Prudential's Term Essential and Term Elite products have recently been repriced – Pru enjoys continued competitiveness with their term portfolio – especially at face amounts of $1 million and above. Add in their Age Last Birthday and their rates are even more competitive! Please note the other product changes:
Maximum Issue Age Changes
The Maximum Issue Age for Term Essential 30 for NonSmoker Underwriting Categories will change from 50 to 55 (applies to all states except Washington). The maximum issues ages (except in WA) for Pru’s term policies are:
NonSmoker Underwriting Categories
Term Ess/Elite 10 Max Issue Age 75
Term Ess/Elite 15 Max Issue Age 70
Term Ess/Elite 20 Max Issue Age 65
Term Essential 30 Max Issue Age 55 – NEW!
Smoker Underwriting Categories
Term Ess/Elite 10 Max Issue Age 75
Term Ess/Elite 15 Max Issue Age 70
Term Ess/Elite 20 Max Issue Age 65
Term Essential 30 Max Issue Age 45
These maximum issue ages now include New York! New York has also changed its maximum age of coverage to match the other states – instead of having your New York clients’ term policies end at age 80 – they now end at age 95.
Maryland Maximum Issue Age Changes:
NonSmoker Underwriting Categories
Term Elite 20 Max Issue Age65 – NEW!
Smoker Underwriting Categories
Term Essential 30 Max Issue Age45 – NEW!
Issue Company Change
The issue company for both Term Essential and Term Elite in New Jersey will change from Pruco Life Insurance Company of New Jersey to Pruco Life Insurance Company. This will result in higher first year compensation rates in New Jersey.
For more information, or if you have any questions, please contact your Brokerage Sales Consultant.
