Repriced PruLife® Custom Premier II VUL Includes Socially Responsible Investment Choices
Publish Date : 5/30/2008 8:28:00 AM Source : Business News Onlypunjab.com
Prudential Financial, Inc. (NYSE:PRU) announced today that Pruco Life Insurance Company has repriced its variable universal life insurance product, PruLife® Custom Premier II VUL. The repricing makes the product more competitive for policies with face amounts over $1 million. Product improvements also include the addition of a number of name brand funds along with socially responsible investment choices.
“We’re proud to offer our customers the choice to invest in funds of companies that have positive social and environmental benefits for society,” said Rich Brugger, vice president, marketing in Prudential Financial’s Individual Life Insurance business.
The Limited No-Lapse Guarantee period for PruLife® Custom Premier II VUL has been extended by 5 years to the later of 10 years or age 75 and the Short-Term No-Lapse guarantee increased by one year for all ages to 8 years for ages 59 and younger and 6 years for ages 60 and above. “We are responding to consumer needs with this product by offering socially conscious investment choices and longer guarantees,” added Brugger. “In addition, while many carriers use ‘Age Nearest Birthday’ pricing, PruLife® Custom Premier II VUL utilizes ‘Age Last Birthday’ pricing that, in many situations, can result in lower policy charges.”
PruLife® Custom Premier II is issued by Pruco Life Insurance Company in all states except New York, where it is issued by Pruco Life Insurance Company of New Jersey, and offered by prospectus only through Pruco Securities, LLC (Member SIPC), located at 751 Broad Street, Newark, NJ 07102-3777, or through broker-dealers that have selling agreements with Pruco Securities, LLC. Pruco Life Insurance Company, Pruco Life Insurance Company of New Jersey, and Pruco Securities, are Prudential Financial companies and each are solely responsible for their own financial condition and contractual obligations. All products and benefits may not be available in all states.
Policies contain exclusions, limitations, reductions of benefits and terms for keeping them in force. We can provide costs and complete details. All guarantees are based on the claims-paying ability of the issuer. Withdrawals from policy cash values may impact the length of the No-Lapse Guarantee while loans negate the No-Lapse Guarantee.