NEWARK, N.J.--(BUSINESS WIRE)--Prudential Financial, Inc. (NYSE:PRU - News) announced today the repricing of its survivorship universal life insurance product, PruLife SUL Protector, which is now more competitive in the marketplace, particularly for consumers who are in need of flexible premium, second-to-die life insurance protection.

“We updated this product with a focus on providing our customers with a survivorship policy that is competitive and provides lifetime protection, lifetime guarantees and flexible premiums,” said Mark Hug, chief marketing officer for Prudential’s Individual Life Insurance business. “In addition, improved underwriting experience has resulted in more competitive rates in certain situations.”

PruLife SUL Protector is now based on the 2001 Commissioner's Standard Ordinary (CSO) mortality table. The 2001 CSO table reflects the most current mortality assumptions since the development of the previously used 1980 CSO table. It offers a flexible guarantee against lapse that ensures the death benefit is secure regardless of changes to the policy’s interest-crediting rates, charges or cash value, provided the appropriate premiums are paid. Additional features include:

• Estate Protection Rider, which is an option that can increase the death benefit by up to 100% of the base policy if both insureds die before the policy’s fourth anniversary.
• Guaranteed Policy Split Rider, which is an option that can allow the policy to be split into two individual policies in the case of divorce or a change in the tax law that would eliminate the marital deduction.
• Waiver of Surrender Charge Endorsement for Estate Tax Repeal, which can allow policyholders to surrender their policy without surrender charges should the federal estate tax be permanently repealed.

PruLife SUL Protector is a survivorship, or “second-to-die,” universal life insurance policy, meaning it insures two people with the death benefit payable when the second insured passes away. It offers the flexibility of choosing when and how premium payments are made, subject to certain limitations.

PruLife SUL Protector is issued by Pruco Life Insurance Company in all states except New York, where it is issued by Pruco Life Insurance Company of New Jersey, both located at 213 Washington Street, Newark, NJ 07102-2992. Both are Prudential Financial companies and each is solely responsible for its own financial condition and contractual obligations. Life insurance policies contain exclusions, limitations, reductions of benefits and terms for keeping them in force. The policy form number is SULNT-2007. Repricing may not be approved in all states.

Prudential Financial, Inc. (NYSE: PRU - News), a financial services leader with approximately $637 billion of assets under management as of September 30, 2007, has operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company’s well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. For more information, please visit www.prudential.com.

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Source: Prudential Financial, Inc.

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