PruTerm WorkLife 65: Premiums waived in case of disability, unemployment

Prudential recently released PruTerm WorkLife 65, a new term life insurance product that allows premium payments to be waived in the event of unemployment or a disability.

The new product, offered by Pruco Life Insurance Co., will waive premiums in the event of a disability before age 65, with the waiver staying in effect until the insured recovers or turns 65, whichever comes first. The one-time unemployment benefit waives, if certain terms and conditions are met, one continuous year of premiums.

The product offers up to 40 years of coverage, and policyholders can convert the term policy to permanent insurance any time before the age of 65 without having to undergo additional medical testing.