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April 28, 2020
Life Essentials

Index Account Updates – May 2020

Impacts of market volatility and the low interest rate environment will cause IUL index parameters to be adjusted. The new caps and spreads for impacted accounts will be effective for May segments.

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Underwriting and Service

Underwriting and Service Updates

As we continue to navigate through the COVID-19 environment, Prudential’s underwriting team is continuously evaluating our underwriting guidelines. Based on your feedback and experiences, we have issued additional temporary underwriting guidelines.

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Regulatory & Compliance Policies & Procedures

New York Customer Rights Under Life/Annuity Contracts Related to COVID-19

A recent Executive Order issued by Governor Cuomo, together with recent amendments to the insurance and banking regulations issued by the New York State Department of Financial Services, extended grace periods and gave New York (NY) customers other rights under their life insurance policy and/or annuity contract if they can demonstrate financial hardship as a result of the COVID-19 pandemic. These grace periods and rights are currently in effect but are temporary, though they may be extended. As part of the Executive Order, Prudential is required to notify all NY customers of these rights. Letters will be sent starting this week to meet this requirement. Due to the significant volume of NY customers, the release of the letters will be staggered and span over several weeks.

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Marketing & Sales Concepts

New – “Count on Prudential” Brochure

No one can predict what world event might rock the markets next, but you can count on the fact that Prudential has withstood every trial we have faced in our 145 years of existence. Click below to learn why you and the clients you serve can rely on us when it matters most.

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Life insurance is issued by The Prudential Insurance Company of America, Pruco Life Insurance Company (except in NY), and Pruco Life Insurance Company of New Jersey (in NY). Variable universal life policies are offered by Pruco Securities, LLC. All are Prudential Financial companies located at 213 Washington Street, Newark, NJ.

This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any clients or prospective clients. The information is not intended as investment advice and is not a recommendation about managing or investing clients’ retirement savings. Clients seeking information regarding their particular investment needs should contact a financial professional.

© 2020 Prudential Financial, Inc. and its related entities.
1011225-00005-00  Ed. 04/2020  Exp. 04/01/2022