New second-to-die life insurance from Prudential

As of May 2, 2011, Prudential has reduced prices on their second-to-die life insurance product.  Over the last few months I’ve compared various second-to-die or survivor UL’s  (SUL), and United of Omaha had the best rates at age 65, non tobacco, for $1,000,000.  All carriers quoted have lifetime no lapse guarantees, which is what you want: pay on time and coverage is guaranteed to stay in force for life.

Survivor or second-to-die life insurance is for a couple’s estate planning needs.  They are much less expensive than individual coverage, and with many carriers only one in the couple needs to be insurable.  Let’s see how Prudential matches up against the strongest competition.

PruLife SUL Protector  – Age 65

Face Amount Annual at Preferred Plus Annual at
Annual at Non Smoker Plus Annual at Standard
$1,000,000 $10,551 $11,155 $13,722 $15,722

United of Omaha – Age 65

Face Amount Annual at Preferred Plus Annual at
Annual at Standard Plus Annual at Standard
$1,000,000 $11,710 $12,282 $14,311 $14,720

Analysis:  Quite impressive rates for Prudential.  They become the new leader for SUL’s, also called survivorship life insurance.  Standard was higher than United of Omaha, but from my experience with Prudential, their non smoker plus rate is almost like a standard.  They have very favorable underwriting.

Granted this is a very, very small sample, but it is a starting point.  You need a broker like myself that can run comparison quotes on all they major competitive carriers and factor in age, health and carrier underwriting to find the best deal.