Author:Andrew Richardson

Read:14 mins

Review of Prudential Life Insurance

Pru Life is a subsidiary of Prudential plc, which is a well-known British financial services company with over 168 years of legacy. Prudential Life Insurance has around 24 million insurance customers and manages over £599 billion of assets as of December 2016.

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Pros
Cons

About Prudential

Prudential Life Insurance, known as Pru Life UK was incorporated as Pru Life Insurance Company of UK in January of 1996. They offer term life insurance, whole of life insurance, and Variable Universal Life (VUL) insurance. VUL policies are investment life insurance policies.

Prudential Life Insurance does not offer online applications or quotes. You can, however, request an inquiry to gain additional information on the policies that are outlined here.

How User-Friendly is Prudential’s Insurance Buying Process?

The insurance buying process with Prudential Insurance is generally considered user-friendly. Often when purchasing insurance, the process can be overwhelming, leaving consumers feeling lost in the financial jargon. Prudential, however, has created a simplified process with straightforward language and clear navigation. The website has been built with the user experience in mind, ensuring all essential information is easily accessible and simple to understand.

Furthermore, Prudential provides a range of support options for customers who have questions or difficulties during the insurance purchase process. They boast a responsive customer service team reachable via multiple communication channels including phone, email or even live chat. Coupled with their vast online resources such as articles, guides and FAQs, Prudential works hard to make insurance buying friendly and effortless.

Prudential Insurance Pricing: Value for Money?

Value for money is a critical factor when choosing an insurance provider. With Prudential, policyholders can get comprehensive coverage at competitive prices. Of course, insurance premiums depend on many factors, but overall, the pricing structure is seen as affordable and value-driven.

The expense of monthly premiums is weighted against the features and benefits offered. Insurance should never just be about the ‘cheapest’. Prudential stands strong in the balance of affordable costs against substantial coverage and service. As a company, they are dedicated to providing robust policies without breaking the bank and have a broad range of policies to cater to diverse needs and budgets.

Understanding Prudential’s Insurance Policy Terms

At Pure Cover, we understand that policy terms can be daunting and complex to navigate. With Prudential’s insurance policies, you’ll find straightforward, understandable terms. Prudential distinguishes itself by adopting clear and transparent language that customers appreciate. It’s part of their commitment to keeping the customer informed and empowered.

Not only are the terms easy to grasp, but the company also strives to ensure that all aspects of your insurance, from what you are covered for to what you’ll be paying, are clearly defined. This approach aids in averting any nasty surprises down the line. Overall, the transparent handling of policy terms by Prudential is a refreshing and commendable characteristic.

A Look into Prudential’s Insurance Customer Service

Prudential’s commitment to customer service is evident from the first interaction, as reflected in customer reviews and testimonials. They take pride in their team of dedicated consultants who are ready to answer questions, address concerns, and assist policyholders. Their customer service is marked by professionalism, responsiveness, and empathy, ensuring that customers feel valued and well-taken care of.

Their customer service extends beyond phone calls and emails; Prudential believes in offering holistic assistance. This approach includes comprehensive online resources and tools for customers, giving them the information they need 24/7. Their swift response to claims and transparent communication lines have ensured a trustworthy relationship with clients.

Prudential’s Claims Process: Fast and Fair?

Making a claim with Prudential is drama-free for the most part, as their process is designed to be both swift and fair. They understand that the claims process often comes at a distressing time, hence the commitment to making it as smooth and stress-free as possible. Claims can be filed online, over the phone or through your policy advisor.

One of Prudential’s commendable features regards fairness in claim evaluations. They promise to assess every claim with utmost accuracy, ensuring each customer gets the full payout they deserve. They are transparent about the waiting periods, letting you know precisely when and what to expect during their claim process. Thus, Prudential emerges as a reliable choice when considering potential insurance providers.

Customer Opinions on Prudential Insurance Products

Prudential’s insurance products generally have favourable customer reviews. Clients express satisfaction with the comprehensive range of policies tailored to fit different personal, professional, and family needs. The competitive pricing and exceptional customer service also win points with policyholders across different products.

However, like any company, a handful of customers have voiced displeasure on various aspects. It’s important to note that in the grand scheme of things, these complaints represent only a small portion of their huge client base. Thus, overall, Prudential has a good reputation backed by a large number of satisfied customers.

The Strengths and Weaknesses of Prudential Insurance

Every insurer has its strengths and weaknesses, and Prudential is no exception. One noteworthy strength is their decades of experience in providing insurance services, enabling them to master their craft and offer top-notch products. Their commitment to transparency, user-friendly policies, excellent customer service, and wide range of products also work in their favour.

As for weaknesses, just like any other insurer, not all of Prudential’s offerings are perfect for everyone. Some customers may find their policies lacking in certain aspects compared to other insurers. There is also scope for improving their digital interfaces to enhance customer experience further. However, these weaknesses don’t overshadow the numerous advantages of choosing Prudential as an insurance provider.

The Coverage You Get with Prudential Insurance

When it comes to coverage, Prudential offers a broad selection. From life insurance to health insurance, retirement plans and investment solutions, their product catalogue is diverse, allowing customers to find an insurance product that matches their needs and lifestyle.

Prudential’s life insurance, for example, covers comprehensive life occurrences, giving customers peace of mind about their financial security. Similarly, their health insurance offers extensive coverage for various medical services and treatments. All in all, the comprehensive coverage of Prudential’s insurance policies is a strong suit of this long-standing insurance company.

Insurance Options: Our Honest Breakdown

Prudential Life Insurance offers one whole-of-life policy, one term policy, and several VUL policies both whole-of-life and term.

PruLife

Prudential Life Insurance PruLife is a whole-of-life plan. It offers a guaranteed death benefit as well as a guaranteed living benefit.

Applicants must be 7 days old up to 75 years of age. The cover will last until age 99.

Prudential Insurance offers a selection of riders that will add to the benefits of your plan. Accidental Death, Waiver of Premium, Total and Permanent Disability, and Personal Accident are just a few.

PruTerm15

Prudential Life Insurance is a term policy with up to 15 years of term cover. It is available to residents of the UK ages 18 to 65. It offers guaranteed renewability and the guaranteed ability to convert the term to a whole-of-life or VUL policy.

PruTerm15 offers a selection of riders that will add to the benefits of your plan.

Accelerated Total and Permanent Disability with Prudential Insurance (UK) will release the benefit early if insured is totally disabled due to an injury or illness.

Accelerated Life Care Benefit will release the benefit early from the cover amount if diagnosed with one of the 36 covered critical illnesses, such as cancer or diabetes.

Accidental Death and Disablement will pay the cover amount if insured dies due to the accident.

The personal Accident policy of Uk Prudential Insurance pays the insured for injury or death due to an accident.

Hospital Income pays daily and lump sum cash benefits to the insured to cover hospitalization costs due to an injury or illness.

Waiver of Premium on Total and Permanent Disability will waive future premiums until the end of the term if the insured becomes totally and permanently disabled due to disease or injury.

Life Care Waiver with Prudential Insurance waives all future premium payments until the end of the term if the insured is diagnosed with a critical illness.

Variable Universal Life

Prudential Life Insurance offers 5 Variable Universal Life (VUL) policies. These are insurance policies with investment options attached. In the event of death, the insured is covered for the sum assured, the value of units in the policy, and 125% of all top off minus any withdrawals on the top of units.

These policies are available for UK residents aged 0 through 70. The policy will last up to the age of 100. The PruElite availability age is 0 – 75.

Prudential Life Insurance VUL policies offer these core benefits to each policy.

Accelerated Total and Permanent Disability will release the benefit early if the insured is totally disabled due to an injury or illness.

Accidental Death and Dismemberment will pay the cover amount if the insured dies due to an accident

Prudential Life Insurance has 2 whole of life VUL.s and 3 Term VUL options. While each has the same core benefits, they each have separate optional riders to assist with tailoring the policy to your specific needs.

PRUlink Assurance Account Plus

It is a Whole of Life policy. It offers these additional riders to enhance the policy benefit.

Accelerated Life Care Benefit pays early the benefit amount if diagnosed with any of the 36 covered critical illnesses presented by Prudential Insurance (UK).

Life Care Plus pays the benefit amount if diagnosed with any of the 36 covered critical illnesses AND keeps the basic sum insured intact.

Multiple Life Care Plus pays for multiple critical illnesses on top of the basic cover with Prudential Insurance (UK).

Life Care Advance Plus pays early plus an additional amount with early diagnosis of any one of the 10 covered critical illnesses.

Payor Term or Payor Waiver pays if the person who pays dies or waives premiums if the payor becomes disabled.

Personal Accident compensates the insured for death or injury due to an accident.

Hospital Income Benefit where UK-based Prudential Insurance will pay a daily lump sum benefit for hospitalization costs due to illness or injury.

Life Care Waiver will waive future premiums until the end of the term if the insured is diagnosed with any of the critical illnesses covered under the Accelerated Life Care Benefit.

Waiver of Premium on Total and Permanent Disability will waive future premiums until the end of the term with Prudential Life Insurance policy if the insured becomes totally disabled due to disease or injury

PRUlink Exact Protector and PRUlink Elite Protector Series

It is a term policy of Prudential Insurance (UK). It offers four different term options. 5 pay, 7 pay, 10 pay, and 15 pay. It offers these additional riders to enhance the policy benefit.

Protection against accident, death, and disability with riders such as Personal Accident which pays in the event of an accident, Payor Term pays should the payor die, and Waive of Premium which pays in the event of injury or illness causes disability are just a few.

Protection against critical illness. These are the same benefits as with the Prudential insurance PRUlink Assurance Account Plus plan. Life Care Benefit, Life Care Plus, Multiple Life Care Plus, Life Care Advance Plus, Hospital Income Benefit and Life Care Waiver provided by Prudential Life Insurance.

Comparing these policies together has shown that; PRUlink Exact Protector is easier for planning and protecting your finances there as PRUlink Elite Protector Series protects your wealth accumulation, be it; education, a new house, business, or retirement savings. Making your savings more attainable and manageable.

PRUlink Exact Protector – Low Premium

It is a term policy. It offers two different term options. 10 pay and 15 pay. In the UK, Prudential Insurance offers these additional riders to enhance the policy benefit

Protection against accident, death, and disability with riders such as Personal Accident which pays in the event of an accident, Payor Term pays should the payor die, and Waive of Premium which pays in the event of injury or illness causes disability are just a few.

Protection against critical illness. According to Prudential Life Insurance, in the UK these are the same benefits as with the PRUlink Assurance Account Plus plan. Life Care Benefit, Life Care Plus, Multiple Life Care Plus, Life Care Advance Plus, Hospital Income Benefit and Life Care Waiver

PRUlink Assurance Account Plus – Low Premium

It is a whole-of-life policy offered by UK Prudential insurance company. It offers these additional riders to enhance the policy benefit.

Accidental Death and Disablement where Prudential Life Insurance claims to pay benefit amount if the insured dies within 180 days of an accident before age 73

Crisis Cover Benefit where Prudential insurance pays benefit amount early if diagnosed with any of 15 critical illnesses before age 60.

Payor Waiver will waive future premiums if the Payor dies or becomes totally disabled.

Guaranteed Insurability Option Benefit where Prudential Life Insurance will guarantee the ability to purchase additional policies without the insured being subject to additional medicals.

PruMax Invest Hybrid

It is a term policy and investment tool wrapped in one, provided by Prudential Insurance (UK). Applicants must be 18 years of age up to 68. It is available with term options up to 15 years.

Death Benefit is made up of the sum assured of the policy and the death benefit of the Variable Life Rider.

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PruLife Series for Critical Illness

Available to ages 18-64. The policy must end by age 70.

Multiple Life Care Plus will provide the ability to file a claim under the policy up to three times.

Life Care Advance Plus will pay early 25% of the sum assured if diagnosed with any one of the 10 critical illnesses at an early stage. Can be used up to four times. Remaining paid out when the insured reaches advanced stages.

Life Care Plus with Prudential Insurance will pay the sum assured if diagnosed with any one of the 36 covered critical illnesses.

PruShield

Is available to ages 18 to 64. It is a one-year term policy with Prudential Life Insurance. It will pay a:

  • Daily Hospital Income Benefit
  • Term Policy.

PruWellness

Is available to users of Prudential Insurance aged 18 to 64. It is a one-year term policy. It will pay a:

  • Daily Hospital Income Benefit
  • Dread Disease Benefit
  • ICU Benefit
  • Surgical Expense Benefit
  • Long-term Hospitalization Benefit
  • And a Term Policy

PruPersonal Accident

Is for the Prudential Life Insurance users aged 5 to 64. The policy will end at age 70. It will pay a:

  • Accidental Death and Disablement
  • Total and Permanent Disability
  • Burial Benefit
  • Murder and Assault (except for PA-Junior)
  • Renewal Bonus

How Prudential Insurance Stands Against Major Competitors

Compared to other insurance providers on the market, Prudential holds its ground as a solid choice. What defines Prudential is its track record of excellent customer service, robust insurance products, and competitive pricing. They offer a mixture of traditional and contemporary insurance policies, providing a comprehensive range that serves their customers’ multitude of needs.

Whilst competitors may have their unique selling points, Prudential’s long service history and consistent quality of services make them a competitor to be reckoned with. Plus, their diverse portfolio of insurance products is a big plus.

Is Prudential Insurance Worth the Investment?

In conclusion, our review finds that Prudential Insurance is indeed worth the investment for many people. While no insurer can be all things to all people, Prudential does an impressive job of catering to a wide range of needs and budget ranges. Their commitment to customer service, fair claims process, and variety of coverage options are strong indicators that an investment with them is an investment worth considering.

Frequently Asked Questions(FAQ)

Is Prudential a reliable insurance provider?

Yes, Prudential has a long-standing history in the insurance industry, with a solid reputation for reliability and customer satisfaction.

Does Prudential offer affordable insurance plans?

Prudential offers a range of insurance plans at competitive pricing levels. The cost will depend on the specific policy and the individual’s circumstances.

Does Prudential have a user-friendly buying process?

Yes, Prudential’s online insurance buying process is user-friendly and intuitive, with support available for any questions or difficulties.

What coverage does Prudential offer?

Prudential offers a broad range of insurances such as life and health insurance, as well as financial products like retirement plans and investments.

How does Prudential compare to its competitors?

Prudential is competitive in the insurance market due to its extensive range of products, excellent customer service, and competitive pricing.

Conclusion: Prudential Life Insurance

Prudential Insurance provides these stand-alone policies for Health and Wellness. A Lump sum is paid to the insured in the event of death.

We hope this review has satisfied your curiosity about Prudential Insurance. For more such unbiased reviews and informational content, keep visiting Pure Cover.

Andrew Richardson is a highly respected expert in UK life insurance, with over 25 years of industry experience. Holding an honours degree from the London School of Economics and being a Fellow of the Chartered Insurance Institute, Andrew has made significant contributions to the field, including developing ground-breaking life insurance products. Known for his ability to simplify complex life insurance concepts, he regularly shares his insights through articles and workshops, empowering people to make informed decisions about their life insurance needs. His commitment to client service, education, and staying at the forefront of industry advancements solidifies his reputation as a trusted and leading figure in UK life insurance.

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About Andrew Richardson

Andrew Richardson, an accomplished expert in UK life insurance, brings to the table a wealth of knowledge amassed over 25 years in the industry. Andrew holds an honours degree in Business and Finance from the London School of Economics and is a Fellow of the Chartered Insurance Institute. He has dedicated his career to ensuring his clients receive the best possible advice and solutions to safeguard their futures.

Embarking on his career in London’s bustling finance district, Andrew’s unique ability to unravel and simplify the complexities of life insurance policies became evident. This skill, coupled with his intuitive understanding of market dynamics, led him to hold high-ranking positions in some of the country’s most well-respected insurance firms.

Renowned for his industry-leading expertise, Andrew has shared his valuable insights through articles in prestigious publications such as The Economist, The Telegraph, and the Financial Times. He has significantly contributed to shaping public understanding of life insurance by presenting complex information in an accessible and digestible format.

Notably, as a former Director of Life Insurance Products at a top insurance company, Andrew played a key role in the development and launch of ground-breaking life insurance products. These innovative policies have since become industry standards, demonstrating the significant impact of Andrew’s work.

Andrew’s commitment to educating the public on life insurance doesn’t stop at his writing. He frequently conducts workshops and seminars throughout the UK, empowering individuals to make informed decisions about their life insurance plans. His ability to present complex information in a clear, easy-to-understand manner has made these sessions highly sought after.

Beyond his professional achievements, Andrew actively utilises his expertise to support charitable causes, offering his knowledge of life insurance to help non-profit organisations secure their financial futures.

Always at the cutting edge of industry advancements, Andrew continually upgrades his knowledge, ensuring he offers the most current, relevant, and reliable advice to his clients. His unwavering dedication to professional growth has cemented his status as an industry leader in life insurance.

Andrew Richardson is more than just an insurance expert; he is a trusted advisor, a visionary product developer, and an invaluable asset to anyone seeking guidance on their life insurance needs. His deep knowledge, innovative spirit, and tireless commitment to client service make him an irreplaceable figure in the UK’s life insurance landscape.

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Meet our authors

Amelia Thompson

Dr. Amelia Thompson is an esteemed expert in UK health insurance, with a career spanning over 25 years. A Cambridge graduate in Medicine and a Master's holder in Health Policy from the University of London, Amelia has made significant contributions to the field, notably in the development of consumer-focused health insurance products. Renowned for her ability to simplify complex concepts, she frequently shares her insights in leading publications and educational seminars. Her commitment to ethical practice, client service, and industry advancement makes her a trusted and influential figure in UK health insurance.

Andrew Richardson

Andrew Richardson is a highly respected expert in UK life insurance, with over 25 years of industry experience. Holding an honours degree from the London School of Economics and being a Fellow of the Chartered Insurance Institute, Andrew has made significant contributions to the field, including developing ground-breaking life insurance products. Known for his ability to simplify complex life insurance concepts, he regularly shares his insights through articles and workshops, empowering people to make informed decisions about their life insurance needs. His commitment to client service, education, and staying at the forefront of industry advancements solidifies his reputation as a trusted and leading figure in UK life insurance.

Benjamin Turner

Benjamin Turner is a highly regarded expert in UK funeral insurance, boasting a professional career that spans over 20 years. A University of Manchester graduate and a distinguished member of the Chartered Insurance Institute, Benjamin has significantly contributed to the field, notably in the creation of comprehensive funeral insurance products. Renowned for his ability to clarify complex concepts, he frequently shares his insights in leading publications and workshops. His commitment to client service, ethical practice, and industry advancement makes him a trusted figure in the UK funeral insurance landscape.

Jonathan Harvey

Jonathan Harvey is a distinguished expert with over twenty years' experience in the UK's life, health, and funeral insurance sectors. A Cambridge graduate and Fellow of the Chartered Insurance Institute, Jonathan has a proven track record in designing innovative insurance policies, and a strong reputation for making complex insurance matters comprehensible for the public. Known for his empathetic approach, he has helped thousands make informed decisions on their future security. Regularly contributing to leading publications and hosting educational workshops, Jonathan's commitment to client service and public education truly sets him apart in the insurance industry.

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