Upcoming PruLife UL and Term Essential product changes for Prudential

News Image 02-27-2017

CHANGES TO PRULIFE UL PROTECTOR

Please Note: UL Protector Reprice - NEW Launch Date
The UL Protector reprice that had been targeting a February 27, 2017 effective date will now launch on March 6, 2017. SEE RELATED RESOURCES FOR TRANSITION RULES.



NEW PRICING EFFECTIVE FEBRUARY 27TH:

Prudential continually strives to offer a relevant suite of product solutions at a competitive price that align with the needs of your customers. With that in mind, they are introducing new pricing on PruLife UL Protector, effective February 27, 2017, pending state approval.

This price change is necessary to maintain the sustainability of UL Protector during this ongoing period of historically low interest rates. They will continue to monitor pricing on their entire suite of products and exercise the financial discipline that has helped Prudential provide enduring value to its clients for over 140 years.

REPRICE DETAILS
*Level pay increases will range from 4 10% varying by cell. Average increase of 6% for ages 55 75.
*Single pays increases will range from 9 19%. Average increase of 12% for ages 55 75.
*CTPs will be increased. Generally, CTPs will be higher than level pay premiums.
*Face amount limits will be removed on applied for policies using the new rates.


TERM ESSENTIAL ENHANCEMENTS EFFECTIVE FEBRUARY 27TH:


Changes to Rates

  Improves competitiveness across more age ranges.
  Targeted increases to some rates, mostly within the smoker category,
   to maintain sustainability.

Reduced Modal Factors
  Monthly factor will drop from 8% to 5%.
  Aligns more closely with industry standard.

Benefit Payout Options
  Death benefit can be distributed to beneficiaries in several payments over time.
  Now part of the Term Essential presentation.



Please note: different rules and dates apply to this transition, please refer to the transition rules for further detail.