Prudential – New Pricing on PruLife SUL Protector

 
Changes to SUL Protector

Prudential strives to offer a relevant suite of products that align to a variety of customers’ needs. To reinforce our commitment to the no-lapse guarantee marketplace we are introducing new pricing on PruLife SUL Protector, effective August 21, 2017.

The updated version has similar changes to those made to PruLife Universal Protector earlier this year. The new pricing incorporates the 2017 CSO table, uses Principal Based Reserves, and will help maintain the sustainability of SUL Protector. We will continue to monitor pricing on our entire suite of products and exercise the financial discipline that has helped Prudential provide enduring value to its clients for over 140 years.

Reprice Details

* Level pay scenarios will increase 6% on average.

* Single pay scenarios will increase 14% on average.

* Face amount limits will be removed on applied for policies using the new rates.

* Introduction of 1st year flexibility, limits impacts to the No-Lapse Guarantee when premiums are paid later in the first year than anticipated in illustrations. This can be particularly beneficial for 1035 exchanges and backdated policies.

* CTPs will be increased and generally be higher than level pay premiums.

* Limited NLG (premium based) period increasing from 5 years to 10 years.

 

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Posted in Life Insurance.