NU Online News Service, May 18, 2004, 5:48 p.m. EDT – Prudential Financial Inc., Newark, N.J., has added a variable universal life policy to its PruLife product family.[@@]
The new Prulife Custom Premier II VUL policy does more to protect death benefits from the effects of market downturns, Prudential says.
As long as policyholders pay all required premiums on time, Pruco Life Insurance Company of New Jersey, the company issuing the policy, will keep the death benefits in effect to age 70, or, for insureds over 60, for at least 10 years.
The first Custom Premier policy guaranteed death benefits only to age 65.
In a related move, Prudential says it has cut the price of the no-lapse guarantees that come with its PruLife Universal Protector universal life policy for insureds ages 55 to 65.