NU Online News Service, June 21, 12:45 p.m. – The Prudential Insurance Company of America, Newark, N.J., has introduced a new variable universal life insurance policy, the PruLife Custom Premier policy.
The new policy will be issued in most states by Pruco Life Insurance Company, and in New York and New Jersey by Pruco Life Insurance Company of New Jersey.
Prudential will market the policy through affiliated broker-dealers as well as its own insurance agents and financial advisors.
The new policy, available in face amounts from $75,000 to $30 million, offers a choice of seven investment funds managed by Prudential, and nine options funds managed by other large money managers.
Policy features include a choice of three death benefit guarantee periods, and a choice of two definitions of life insurance tests.