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July 20, 2020
Life Essentials

30-Year Term Is Back for
Term Essential® and Term Elite®


Clients have been asking for it; now you can again deliver it—30-year term for Term Essential® and Term Elite®, effective July 20, 2020. We’re also introducing some rate changes, including a decrease for non-NY Term 10.

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Product Announcements

SBAR Coming to PruLife® SVUL Protector

SVUL Protector is about to become even more valuable to clients by offering an optional chronic and terminal illness rider.

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PruLife Index Advantage UL® Gets a Refresh

On August 17, 2020, Prudential will launch revisions to PruLife Index Advantage UL (Advantage UL). This updated version of Advantage UL refreshes the product and includes exciting changes.

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LifeInsight – Expanding Products!

LifeInsight is the go-to resource for managing your inforce Life policies here at Prudential. The tool continues to expand and now includes Essential Universal Life.

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Marketing & Sales Concepts

New eKit: What you need to know about Pru’s three flexible-premium survivorship policies.

A survivorship policy can help clients protect their loved ones and transfer wealth tax-efficiently. To help you determine which of Pru’s three survivorship life products is best suited to a client’s needs, use this new eKit to find the product information and advanced planning solutions you need.

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Underwriting & Service

New Business Applications for Term Products

Effective August 17, we’ll be limiting access to the long-form application for term products. We recommend submitting business via our PruXpress Worksheet process and selecting eInterview, which allows all eligible cases to be considered through Prudential’s PruFast Track accelerated underwriting program. Prudential will continue to order requirements for this segment of business. For applications requesting coverage amounts above $3 million, or for proposed insureds over the age of 60, the BGA/Producer may order medical requirements, or Prudential is available to order requirements as well. For unique situations, please contact your case manager for assistance.


Revised IAUL Product

Effective Monday, August 17, 2020, the PruLife Index Advantage UL Disclosure (ORD 115640-2020) and PruLife Index Advantage UL Supplement (ORD 96200-2020 IUL) will be updated to support the Index Advantage Universal Life product revision. The S&P 500® Indexed Account with Multiplier option will no longer be available with this product and has been removed.

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NEW Human API Consumer Guide Available!

New Human API Consumer Guide Available! Human API is the newest way for Prudential to obtain a client’s medical (APS) records. To make this process easier, a new Consumer Guide is now available!

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Beneficiary Information Request Form (CA, IL, NY) – Effective August 17, 2020

Effective August 17, 2020, in compliance with new regulations in Illinois and California, the Beneficiary Information Request form (ORD 115116 2020) will be introduced. The New York state-specific NY Regulation 200 Information Request form (ORD 115116 2013 NY) will be discontinued. It will be replaced by the generic Beneficiary Information Request form (ORD 115116 2020).

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Tools & Resources

2020 Life Resource “eBook” Guide

Doing Business with Prudential – Life Business Resource Guide Summer 2020. Find what you need to help you do business quickly and easily in this changing environment.

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PRUXPRESS STATE APPROVALS
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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.

FOR FINANCIAL PROFESSIONAL USE ONLY. NOT FOR USE WITH CONSUMERS.
© 2020 Prudential Financial, Inc. and its related entities.
1011225-00005-00  Ed. 05/2020  Exp. 04/01/2022