Prudential: PruFast Track New Requirement – Important Update
Prudential's full suite of eCapabilities streamline the life insurance buying process and provide a better customer experience, faster cycle times, and higher placement rates. To get more clients on their way to a faster, more convenient buying experience, Prudential launched a new requirement that all PruFast Track eligible business must be submitted via Prudential Xpress QuickForm on July 19, 2021. A grace period was provided to accommodate long applications for cases started before July 19. Beginning September 1, 2021, the grace period ends, and Prudential will no longer accept long applications following the traditional, full underwriting path for cases that are eligible for PruFast Track.
If Prudential receives a long application for a PruFast Track eligible case on or after September 1, they will send the customer a link to the online interview. When the interview is completed, the case will be reviewed through PruFast Track. The case will not be eligible for an instant decision but may still qualify for an accelerated decision without additional requirements such as exams, labs, or APS records. The underwriter will review both the online interview responses and any part two information submitted with the long application and may reach out to resolve any discrepancies. The additional review may create delays and reduces the efficiency created through accelerated underwriting.
To ensure customers have the best opportunity for a streamlined buying experience, please ensure all PruFast Track eligible cases are submitted via Prudential Xpress QuickForm worksheet on or after September 1.
• Age: 18 to 60
• Face Amounts: $100,000 to $3,000,000
• Quoted Underwriting Category: Smoker or better
• Products: Most of Prudential’s term and permanent products (excludes PruTerm One and survivorship products)
• U.S. residents
Some key facts about the Prudential Xpress Worksheet, did you know?
• Automatically connected to eInterview for streamlined application completion.
• It can be used on ALL single life products.
• It can be used for ALL ages and face amounts.
• It can be used for ALL ownership scenarios, including trust owned and entity owned.
• It can be electronically signed either when submitting via iPipeline iGO or using DocuSign* on a PDF form.
• If an exam or lab is needed it uses the shorter modified experience vs. full paramed for the client.
The Prudential Xpress Worksheet is the most versatile submission tool available; if there is a need to use the long form full Part 1 application, please contact us at 1-800-792-6795.