Prudential’s New EssentialTerm Suite- Effective October 14, 2024

Two new term life insurance products, Prudential EssentialTerm Value and Prudential EssentialTerm Plus will be available beginning 10/14 to better match the budgets and long-term planning needs of clients. Both products will first be available on policies with face amounts up to $249,999. 

EssentialTerm Value – Our most affordable option is here to help you meet the needs of budget-conscious buyers. This product includes the ability to convert to any of our permanent products for the first 7 years, or until age 70, whichever comes first. In year 8 through the end of the level premium period or age 70, whichever comes first, clients can convert to a designated conversion product.

EssentialTerm Plus – Designed for clients who want term insurance today, but are long-term planning-minded. This option provides our most robust conversion option, allowing clients to convert to our permanent products for the length of the level premium period, or to age 70, whichever comes first.

Term Essential® will be retiring for face amounts below $250,000 on Oct. 14, 2024. See the transition rules here.