Universal Life Insurance

Universal life insurance can help meet the needs of those who want long-term life insurance protection.

We offer several universal life insurance policies. Although each has its own features and benefits, all of them focus on offering a death benefit, the amount paid to your beneficiaries when you die, for your loved ones. Work with a financial professional to learn which policy can best help meet your needs.

Policies We Offer

Ideal choice when you are looking for: PruLife® Universal
Protector
PruLife® Universal
Plus
PruLife® Index
Advantage UL
PruLife® SUL Protector PruLife® Founders Plus UL
Death benefit. Provide death benefit protection for your loved ones no matter when you die. Provide death benefit protection for your loved ones. Provide death benefit protection for your loved ones. Provide a death benefit to your children after both you and your spouse pass away. Provide death benefit protection for your loved ones.
Supplemental income.   Supplement your retirement income with distributions from your life insurance policy. Supplement your retirement income with distributions from your life insurance policy.   Supplement your retirement income with distributions from your life insurance policy.
Cash value growth potential.1   Balance protection with steady cash value growth not tied to the stock market. Balance protection with greater cash value growth potential based on performance on the S&P 500 Index.2   Balance protection with cash value growth potential based on two distinct account options, including one based in part on the performance of the S&P 500®.2
Business needs. Appropriate for key person, buy-sell arrangements, business loan repayment. Appropriate for key person, non-qualified benefits, buy-sell plans, split dollar arrangements. Appropriate for key person, non-qualified benefits, buy-sell plans, split dollar arrangements. Appropriate for family business transfer, specialty key person situations. Appropriate for key person, non-qualified benefits.
Trust and estate planning. Appropriate for wealth transfer and liquidity planning, estate equalization, enhancing gifts to children or grandchildren. Appropriate for wealth transfer and liquidity planning, estate equalization, enhancing gifts to children or grandchildren, private split dollar arrangements. Appropriate for wealth transfer and liquidity planning, estate equalization, enhancing gifts to children or grandchildren, private split dollar arrangements. Appropriate for estate liquidity, wealth transfer planning, dynasty trusts. Appropriate for wealth transfer and liquidity planning, estate equalization, enhancing gifts to children or grandchildren, private split dollar arrangements.
Special needs. Create a complete plan to care for a loved one who has special needs.     Create a complete plan to care for a loved one who has special needs. Create a complete plan to care for a loved one who has special needs.

Policies We Offer

Policy features and benefits: PruLife® Universal
Protector
PruLife® Universal
Plus
PruLife® Index
Advantage UL
PruLife® SUL Protector PruLife® Founders Plus
UL
At a glance. Stay protected: This policy features a guaranteed death benefit. Build steady cash value: This policy offers guaranteed protection plus growth potential. Upside potential with downside risk protection: This policy offers higher cash growth potential compared to other universal life products, plus protection from the negative impact of market losses. Protect two people with one policy: This policy makes it simple to offer a lifetime of guaranteed coverage for two. Flexible premium, permanent life insurance that offers death benefit protection with the added flexibility of cash value accumulation potential and access.
Customize your policy. Additional benefits can provide coverage for your children while they are still young, pay an additional benefit if you die as a result of an accident, and more! (Additional costs apply) Additional benefits can pay your premiums if you become disabled and more! (Additional costs apply) Additional benefits can help your policy gain higher cash value in the early years of the policy and more! (Additional costs apply) Additional benefits can increase or split your policy's death benefit amount based on your needs. (Additional costs apply) Additional benefits can help your policy gain higher cash value in the early years of the policy and more! (Additional costs apply)

 

PruLife Founders Plus UL offers three death benefit options (A, B & C) while PruLife Index Advantage UL offers death benefit Types A & B. You may choose a contract with a Type A (fixed) death benefit, under which the death benefit generally remains at the Basic Insurance Amount you initially choose. You may choose a Type B (variable) death benefit, where the death benefit generally fluctuates in direct relation to the value of the Contract Fund.You may also choose a Type C (return of premium) death benefit. Type C death benefits are generally equal to the Basic Insurance Amount plus the total premiums paid into the Contract less withdrawals.
 

1 Life insurance policy cash values are accessed through withdrawals and policy loans. Interest is charged on loans. In general, loans are not taxable, but withdrawals are taxable to the extent they exceed basis in the policy. Loans outstanding at policy lapse or surrender before the insured's death will cause immediate taxation to the extent of gain in the policy. Unpaid loans and withdrawals reduce cash values and policy benefits. If a policy is a Modified Endowment Contract (MEC), distributions (including loans) are taxable to the extent of income in the policy, and an additional 10 percent federal income tax penalty may apply. You may wish to consult your tax advisor for advice regarding your particular situation.

PruLife Founders Plus UL –  IULNLG-2013

  • The Fixed Account earns a fixed interest rate, declared by Prudential. The current rate is 4.00% and is subject to change.
  • The Plus Account is based, in part, on the performance of the S&P 500 Index, based on a 50% participation rate. The Plus Account also includes a Basic Interest rate. As of January 1, 2014, the current Basic Interest rate is 1.50% and the Index Interest portion of the Plus Account may credit interest as high as 6% (the "Cap"), but never less than 0% (the "Floor"). Please note that Prudential can change the Cap at our discretion down to a minimum of 3% prior to the start of a Plus Account segment period.

PruLife Index Advantage UL –  IUL 2013
PruLife Index Advantage UL is a universal life insurance contract that offers an index interest feature. This product provides death benefit protection and is designed for cash accumulation for supplemental retirement income. It can also be used for income replacement, wealth transfer, business and estate planning.

  • The Basic Interest Account earns a fixed interest rate, declared by Prudential. The current rate is 4.15% and is subject to change.
  • The Index Account earns interest based on the performance of the S&P 500 Index. As of October 1st, 2013, the Indexed Account may credit interest as high as 12.00% (the “Cap”), but never less than 0% (the “Floor”). For policies purchased in Pennsylvania, the “Cap” is 10.5% and the “Floor” is 1%. Please note that the “Cap” percentages are subject to change at Prudential’s discretion.

PruLife Index Advantage UL –  IUL 2011 (Not available in Massachusetts)
PruLife Index Advantage UL is a universal life insurance contract that offers an index interest feature. This product provides death benefit protection and is designed for affordable coverage to help with income replacement, wealth transfer, or estate planning needs. It offers flexible premiums and the ability to accumulate non-guaranteed cash value through two interest accounts.

  • The Basic Interest Account earns a fixed interest rate, declared by Prudential. The current rate is 4.50% and is subject to change
  • The Index Account earns interest based on the performance of the S&P 500 Index. As of October 1st, 2013, the Indexed Account may credit interest as high as 12.00% (the “Cap”), but never less than 0% (the “Floor”). For policies purchased in Pennsylvania, the “Cap” is 10.5% and the “Floor” is 1%. Please note that the “Cap” percentages are subject to change at Prudential’s discretion.

IUL 2013 may not be available in your state.  Once IUL 2013 is available in your state, IUL 2011 will no longer be available for sale.

2 The S&P 500® Index is a product of S&P Dow Jones Indices LLC (“SPDJI”). It has been licensed for use by The Prudential Insurance Company of America for itself and affiliates including Pruco Life Insurance Company and Pruco Life Insurance Company of New Jersey (collectively "Pruco Life"). Standard & Poor's®, S&P®, and S&P 500® are registered trademarks of Standard & Poor's Financial Services LLC (“S&P”). Dow Jones® is a registered trademark of Dow Jones Trademark holdings LLC (“Dow Jones”). These trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Pruco Life. Pruco Life's products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates. None of these parties make any representation regarding the advisability of purchasing such product(s). Also, they do not have any liability for any errors, omissions, or interruptions of the S&P 500® Index. S&P 500® index values are exclusive of dividends.

The potential to build cash value in the Indexed Account or Plus Account is based on the performance of the S&P 500® Index (using an index growth cap and floor) on an annual point-to-point basis based on a 100% participation rate for PruLife Index Advantage UL and a 50% participation rate for Founders Plus (subject to change). Money that is placed in the Indexed Account or Plus 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. Founders Plus and PruLife Index Advantage UL are not variable contracts or investment contracts.

The Index Growth Cap is generally stated as a percentage, which is the maximum rate of index interest that will be credited at the end of the one year Plus Account Segment, regardless of changes to the designated index. The Index Growth Cap is declared for each Plus Account Segment in advance of each Plus Account Segment start date. The Index Growth Cap may be raised or lowered at our discretion before the segment is created, but will not be lower than the guaranteed minimum index growth cap stated in the policy (3% in all states). Once a Segment is created, its Index Growth Cap will not change. Changes to the Index Growth Cap could result in different values than shown here. 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.
 

When you pay premiums, a portion of each payment is used to pay administrative and sales charges. What is left, called the net premium, is applied to the account value, which is also known as the Contract Fund. As monthly charges come due, they are then deducted from the Contract Fund. The Minimum Contract Fund is an alternative way to calculate the insurance benefit and the cash surrender value regardless of Basic Interest Account and Indexed Account performance. The policy will guarantee a cumulative return of 1% annually on net premiums, reduced by monthly charges (other than the asset-based administrative fee), withdrawals, and any partial surrender charges. When the Minimum Contract Fund value is more than the actual Contract Fund value, the Minimum Contract Fund will be used in its place for most policy provisions, including the calculation of surrender value, available loan amount, amount at risk, and death benefits. Please note that there is no guarantee that the Minimum Contract Fund will be a positive value as charges and other reductions can deplete it.

PruLife Index Advantage UL has a 15-year declining surrender charge and Founders Plus has a 14-year declining surrender charge. Surrender charges may reduce the policy's cash value in early years. The policy's cash surrender value is the accumulated value less the surrender charges. Other charges include, but are not limited to, premium-based administrative charges and monthly charges including cost of insurance.

PruLife Founders Plus UL (IULNLG-2013), PruLife Universal Protector (ULNLG-2013), PruLife SUL Protector (SULNLG-2011), PruLife Universal Plus (UL-2010), and PruLife Index Advantage UL (IUL-2011 and IUL-2013) are issued by Pruco Life Insurance Company in all states except New York, where, if available, they are issued by Pruco Life Insurance Company of New Jersey. All are Prudential Financial companies located in Newark, NJ. Each is solely responsible for its own financial condition and contractual obligations.

All guarantees are subject to the financial strength and claims-paying ability of the issuer. These products may not be available in all states


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