New PruLife® Survivorship Index UL helps address estate-and legacy-planning needs

Business Wire

NEWARK, N.J.--(BUSINESS WIRE)-- Pruco Life Insurance Company, a subsidiary of Prudential Financial, Inc. (NYSE:PRU), has introduced, PruLife® Survivorship Index Universal Life, a new product that provides death benefit protection for two lives and the opportunity to build cash value through multiple interest crediting options.

“As the financial environment has improved, we’ve seen an increase in demand for survivorship products that have a potential for higher returns and help build and transfer wealth,” said Steve Roche, vice president of product management with Prudential Individual Life Insurance. “PruLife Survivorship Index UL is designed as a tax-efficient way to provide for estate- and legacy-planning needs.”

Within the policy, customers can choose how the cash value can grow – through an indexed account that credits interest based upon the performance of the S&P 500^®, a fixed account, which credits interest based on a fixed rate, or a combination of both. The indexed account is subject to a cap and a floor on the amount of interest earned, but the crediting rate will never be less than zero percent. The fixed account offers a set rate declared by Prudential, which is guaranteed to never be less than 2%. Clients also have the option of combining the types of interest that is credited to their policy – both index and fixed interest. This can help create a balance between the upside potential of the indexed account and the stability of the fixed account.

“This product expands upon the broad range of solutions we offer and demonstrates our ongoing commitment to meet the diverse and changing needs of consumers,” said Roche. “Our product portfolio provides options for customers looking for affordable death benefit protection, as well as those seeking more comprehensive coverage that can be used to help provide liquidity and build a legacy.”

PruLife Survivorship Index UL is issued by Pruco Life Insurance Company in all states except in New York where, if available, it is issued by Pruco Life Insurance Company of New Jersey. Both are Prudential Financial companies located in Newark, NJ and are solely responsible for their own financial condition and contractual obligations. The contract number is SIUNLG-2015 or ICC15 SIUNLG-2015 and the product may not be available in all states. Our policies contain exclusions, limitations, reductions in benefits and terms for keeping them in force. A financial professional can provide you with costs and complete details.

The PruLife^® Survivorship Index UL policy is not a variable contract or an investment. Money that is placed in the Indexed Account is not a direct investment in the S&P 500® Index. If amounts in the Indexed Account are withdrawn prior to the end of the one-year term, no interest will be credited.

The Index Growth Cap is generally stated as a percentage, which is the maximum rate of interest that will be credited at the end of the one year Index Segment Duration, regardless of changes to the designated index. The Index Growth Cap is declared for each Index Segment in advance of each Index Segment Duration. The Index Growth Cap is subject to change at our discretion, both up and down, but is guaranteed to never be less than 2.00%. Changes are not tied to the performance of the underlying index and may be based on interest rates, market volatility, and other factors. Index Growth Caps and Floors may be different in selected states.

“Standard & Poor’s®”, “S&P®”, “S&P 500®”, and “Standard & Poor’s 500™” are trademarks of Standard & Poor’s Financial Services LLC (“Standard & Poor’s”) and have been licensed for use by The Prudential Insurance Company of America for itself and affiliates. This indexed product is not sponsored, endorsed, sold or promoted by Standard & Poor’s and Standard & Poor’s makes no representations regarding the advisability of purchasing an indexed policy. S&P 500® index values are exclusive of dividends.

Prudential Financial, Inc. (NYSE:PRU), a financial services leader, has operations in the United States, Asia, Europe and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.

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