Prudential Financial Expands EssentialTerm Suite, Affordable and Flexible Life Insurance to Help Protect What Matters Most

Prudential Financial, Inc. (NYSE: PRU) announces the expansion of its EssentialTerm Suite for policies of $250,000 face amount and above, offering more consumers greater choice to match their individual needs and budgets. Designed with the flexibility to transition to permanent coverage for long-term financial security, the suite of solutions helps customers protect what matters most now and as their needs change.

Prudential’s EssentialTerm Suite features two enhanced term life solutions issued by Pruco Life Insurance Company. EssentialTerm Value^® is Prudential’s most cost-effective option for consumers seeking temporary protection with the option to convert to a permanent policy as financial goals evolve. By converting to a permanent policy, consumers can benefit from lifelong coverage and additional benefits like cash-value growth. EssentialTerm Plus^® offers a more robust conversion option for consumers who are focused on their long-term financial planning goals.

“At Prudential, we recognize the important role life insurance plays in safeguarding your life’s work, not only as death protection but for long-term planning,” says Rob Schaffer, Prudential’s head of Product Design and Innovation, Individual Life Insurance. “The EssentialTerm Suite bridges short-term needs with opportunities for lasting value, empowering policyholders to convert to permanent life insurance as their lives evolve.”

Key features of the EssentialTerm Suite include:

• Flexible Term Options: A choice of 10-, 15-, 20- or 30-year term durations, with guaranteed consistent premium payments throughout the selected term.
• Conversion to Permanent Policies: The ability to convert to one of Prudential’s permanent life insurance policies, maintaining the same health underwriting classification. Additionally, a conversion credit is available within the first seven years to help reduce premiums during the transition.
• Terminal Illness Rider: Automatically included, the rider allows access to a portion of the death benefit if the policyholder becomes terminally ill.
• Optional Riders: Customers can enhance the policy with additional riders, such as the waiver of premium in the event of disability, an accidental death benefit and convertible life insurance for a child.

The EssentialTerm Suite is designed with a quick and straightforward approval process, featuring online interviews that take approximately 20 minutes. It also qualifies for PruFast Track, Prudential’s accelerated underwriting process, which eliminates the need for medical exams and lab work. Additionally, applications can be seamlessly tracked and managed through Prudential’s new Life Case Tracker.

The EssentialTerm Suite joins Prudential’s comprehensive portfolio of term and permanent life solutions, including universal life, indexed universal life, indexed variable universal life and variable universal life insurance. “We’re expanding and enhancing our product portfolio to meet a wide range of life insurance needs, providing more protection and flexibility as financial needs change. We’re committed to helping our customers build financial security and unlock financial opportunities,” adds Schaffer.

For more information about EssentialTerm Value^®, EssentialTerm Plus^® and Prudential’s broad range of product offerings, please visit prudential.com/personal/life-insurance/find-life-insurance-policy/term-life-products.

ABOUT PRUDENTIAL

Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.6 trillion in assets under management as of June 30, 2025, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential’s iconic Rock symbol has stood for strength, stability, expertise, and innovation for 150 years. For more information, please visit news.prudential.com.

EssentialTerm Value^® and Essential Term Plus^® are issued by Pruco Life Insurance Company located in Newark, NJ. Subject to state availability. (ICC24-ETV, ETV-2024; ICC24-ETP, ETP-2024).

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