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February 8, 2021
Life Essentials

Rollercoasters and Tax Rates: Scary when they go up; exciting when they go down.

Tax-efficient investing can help take the fear out of upward-trending taxes. The February Trimester focus is to help ensure that clients who need death benefit protection are also diversified from a tax perspective. The Life Insurance and the Importance of Tax Planning in Retirement flyer and The Tax Challenge can get you started. Visit the Resource Site.

Marketing & Sales Concepts

New! Power of Two On-Demand Webinar: How to Change the Life Insurance Narrative

A new webinar recording that outlines how to change the life insurance narrative. During this webinar Doug Winkler takes you through the five key tax codes that will enable clients to use life insurance to help them navigate tax uncertainty. Take clients beyond why they need life insurance, to why they should also want it to help address taxes in today’s environment.

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Underwriting & Service

Informal Inquiry Process Update – Effective March 1, 2021

In order to continue to provide strong service on large informal cases as well as your formal applications, effective March 1, 2021, we are updating our informal submission guidelines.

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Underwriting Service Update

As we continue to be transparent on the current state of service, here is an update on Prudential’s Service & Underwriting: In November we moved to a goal of reviewing 90% or more of ARR (All Requirements Received) files within five days of receipt. With the VUL repricing deadlines and the completion of year-end business, we struggled to reach this goal. With blitzes, focus days, and an extraordinary effort by our teams, we are now in the range of 70 – 75% of our ARR files within five days. That still leaves more cases outside of standard than we’d like, and we continue to take steps to get back to the service levels we want to provide. With addition of staff, and continued strong efforts by the teams, we will continue to improve service and get to goal. Thank you for your support and patience as we strive to move as many files as possible, and convert them to policies ready to be placed.

A Message from Mike Calabro, Vice President, Prudential Individual Life, Service Operations

As we have been communicating recently, over the past several months, call volume has been extremely heavy, causing extended call times and wait periods. This is primarily driven by COVID-related inquiries (grace period extensions, financial transactions, and market performance). Please click the link below for more information on what we are doing to improve the service experience.

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We’re Making It Easier to Access eInterview for PruXpress Worksheet Applications!

In August of 2020, PruXpress Worksheet applications were connected exclusively to eInterview for fulfillment of Part B of the application. However, sometimes customer email information is missing or illegible, resulting in those cases routing to our telephone interview vendor for handling. Beginning February 22, we’ll reach out to you to gather the email information when it isn’t clear in order to keep the customer on the eInterview path for eligible cases. Best Practice: For fastest handling, please include clear customer email information on all PruXpress Worksheet applications.

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Sixth Street to Acquire Talcott Resolution

Press release issued on Wednesday, 01/20/2021, from Talcott Resolution Life Insurance Company (“Talcott Resolution”) and Sixth Street announcing Sixth Street’s agreement to acquire Talcott Resolution. The press release can be accessed by clicking the following link.

Read press release

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.

© 2021 Prudential Financial, Inc. and its related entities.
1011225-00005-00  Ed. 05/2020  Exp. 04/01/2022