Company Overview of Pruco Life Insurance Company
Pruco Life Insurance Company provides various individual life insurance and annuity products. It offers universal life insurance, variable life insurance, term life insurance, and fixed and variable annuities. The company markets its products through third party channels, including independent financial planners, general agencies, producer groups, wirehouses, banks, and broker-dealers in the District of Columbia, Guam, and in various States except New York. The company was founded in 1971 and is based in Newark, New Jersey. Pruco Life Insurance Company is a subsidiary of The Prudential Insurance Company of America.
213 Washington Street
Newark, NJ 07102
Founded in 1971
Key Executives for Pruco Life Insurance Company
Chief Executive Officer, President and Director
Chief Financial Officer, Vice President and Director
Compensation as of Fiscal Year 2014.
Pruco Life Insurance Company Key Developments
Prudential Enhances its Permanent Life Insurance Product Portfolio
Jan 8 14
Pruco Life Insurance Company introduced its newest universal life insurance product that offers consumers death benefit protection with tax-advantaged growth potential and the ability to access cash value. PruLife Founders Plus UL provides cost-effective death benefit protection with an extended No-Lapse Guarantee, and offers a choice between two interest crediting account options that can help build cash value in the policy. Additionally, an optional BenefitAccess Rider, available for an additional cost, allows consumers to advance up to 100% of the death benefit should they become chronically or terminally ill. Founders Plus UL has two account options that support cash value accumulation. The Fixed Account offers a competitive interest crediting rate with a guaranteed minimum. The Plus Account combines the potential to earn both Basic Interest and Index Interest, which is tied to the performance of the S&P 500(R)2. Additional key elements of the product include: an extended No-Lapse Guarantee that has the potential to provide consumers with guaranteed coverage into the mid to late 80s or longer, provided certain circumstances are met. An optional Waiver of Premium Rider that can cover the cost of premiums or certain monthly policy charges should the insured become disabled provided they meet the terms and conditions. The ability to choose the amount of premium payments (within limits) to improve the policy's cash value accumulation potential.
Pruco Life Insurance Faces Lawsuit over Denial of Policy Claim
Jul 22 13
TLO LLC sued Pruco Life Insurance Co. over alleged refusal to pay a life insurance claim related to an employee's death. Pruco denied paying a claim for a $40 million life insurance policy related to Hank Asher's death. TLO said in its lawsuit that Pruco Life Insurance denied coverage and canceled the employee's policy saying he did not disclose certain health disorders.
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