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 |
| Death benefit | Provide death benefit protection for your loved ones no matter when you die | Provide death benefit protection for your loved ones no matter when you die | Provide death benefit protection for your loved ones no matter when you die | Provide a death benefit to your children after both you and your spouse pass away |
| Supplemental income | Supplement your retirement income with distributions from your life insurance policy | Offset out-of-pocket expenses in later years | ||
| Cash value growth potential | 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 Index1 | ||
| 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 |
| 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 |
| 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 | ||
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Policies We Offer
| Policy features and benefits | PruLife® Universal Protector |
PruLife® Universal Plus |
PruLife® Index Advantage UL |
PruLife® SUL Protector |
| At a glance | Stay protected: This policy features a guarantee 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 1, 2, 3 | Protect two people with one policy: This policy makes it simple to offer a lifetime of guaranteed coverage for two |
| 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) |
| Learn more | Get a Quote Download Brochure |
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With PruLife® Index Advantage UL, you have the potential to build cash value through two interest accounts:
- The Indexed Account earns interest based on the performance of the S&P 500® Index (which excludes dividends)2. Money in the policy is not directly invested in the S&P 500® Index. As of September 1st, 2012, the Indexed Account may credit interest as high as 10.75% (the "Cap"), but never less than 0% (the "Floor"). For policies purchased in Pennsylvania, the "Cap" is 9.5% and the "Floor" is 1%. Please note that the "Cap" percentages are subject to change at Prudential's discretion.3,4
- The Basic Interest Account earns a fixed interest rate, declared by Prudential. The current rate is 4.75% and is subject to change.
1 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”). They have been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by The Prudential Insurance Company of America for itself and its affiliates. The S&P 500 is a product of S&P Dow Jones Indices LLC, and has been licensed for use by The Prudential Insurance Company of America for itself and its affiliates. Prudential's product is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, or their respective affiliates, and neither S&P Dow Jones Indices LLC, Dow Jones, S&P, or their respective affiliates make any representation regarding the advisability of investing in such product(s).
2 The potential to build cash value in the Indexed 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 (subject to change). 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.
3 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 3.00%. 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.
4 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.
5 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 and negate any guarantee against lapse. 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 Index Advantage UL has a 15-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 Universal Protector (ULNLG-2010), PruLife Universal Plus (UL-2010), and PruLife Index Advantage UL (IUL-2011) 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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