Term Life Insurance

18:46 / Posted by - Dwix - /

Term insurance provides protection for a limited period of time, such as 10, 15, 20, or 30 years, and pays a benefit if the insured dies during this period. Although term policies do not accumulate cash value, many do offer a feature that allows you to convert to a permanent policy within a certain time. This can be beneficial if you'd like to buy a permanent policy but your budget right now does not allow it, or you like having the option to convert to a permanent policy later on.
Term Essential® is a budget-friendly entry into insurance, with premiums that remain the same during the initial period and an option to convert the term policy to a permanent one.

  • Premiums remain the same for your choice of 10, 15, 20, or 30 years. We guarantee it!
  • If you continue coverage beyond the initial term, premiums are not guaranteed and will increase annually to age 95 (80 in New York), but will never be more than the maximum stated in the contract.
  • The policy can be converted to a permanent policy.
Term Elite® is a stepping-stone to permanent life insurance, with premiums that remain the same during the initial period and a generous option to convert the term policy to a permanent one.
  • Premiums remain the same for your choice of 10, 15, or 20 years. We guarantee it!
  • If you continue coverage beyond the initial term, premiums will increase annually and are guaranteed to age 95 (80 in New York).
  • The policy can be converted to a permanent policy. This is available to age 65 or 5 years from issue, whichever is later.
  • If you convert the policy to a permanent one within the first five years, you can receive a credit, which is applied toward the permanent policy's first-year premium.
PruLife® Return of Premium Term offers insurance protection for your beneficiaries while providing you with a guaranteed return of out-of-pocket policy premiums.
  • Premiums remain the same for your choice of 15, 20, or 30 years.
  • If you continue coverage beyond the initial term, premiums will increase annually and are guaranteed to age 95.
  • Your out-of-pocket premiums are guaranteed to be returned to you at the end of the level premium period. Any loans taken and not paid back plus interest owed on loans will be subtracted from the amount returned to you. Note: any premiums waived under the Waiver of Premium will not be returned.
  • The policy can be converted to a permanent policy. This is available to the earlier of age 65 or 10 years from issue, with a minimum period of 5 years from issue.
  • You must be alive at the end of the selected level premium period and the policy must still be in force at the end of the policy term you selected for you to receive the return of your premiums.

Term Elite®, Term Essential®, and Return of Premium Term are issued by Pruco Life Insurance Company, an AZ corporation, except in New Jersey and New York, where the issuer is Pruco Life Insurance Company of New Jersey, both located at 213 Washington Street, Newark, NJ 07102. Policy form numbers are PLTI-2007, PLTIC-2007, and PLTIR-2006, respectively. Both are Prudential Financial companies. All guarantees are based on the claims-paying ability of the issuer. Each company is solely responsible for its own financial condition and contractual obligations.

Life insurance policies contain exclusions, limitations, reductions in benefits and terms for keeping them in force. Your licensed financial professional can provide you with costs and complete details. The issuing company may have the right to contest the policy for misrepresentation or to apply a suicide clause.

Source : http://www.prudential.com/view/page/public/11385

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