Prudential Life Insurance: Check's In The Mail

Prudential offers a few types of lump-sum payment options, including a single check or immediate access to the entire policy proceeds. The specific payment method depends on the type of policy and the preferences of the beneficiary. For example, beneficiaries can choose to receive regular interest payments with the right to withdraw the unpaid balance or elect to have interest accumulate. Alternatively, they can opt for a lump-sum check, receiving the full benefit in a single payment.

Lump sum check

Prudential offers a few types of lump sum payment options. Each option type provides full payment through either a single check or immediate access to the entire proceeds of the policy.

With the lump sum check option, you will receive the full benefit in a single lump sum check. This is one of the simplest ways to receive your life insurance funds.

Proceeds Held at Interest

While proceeds are held at interest, you receive regular interest payments with the right to withdraw the unpaid balance. You may also elect to have interest accumulate.

Other Payment Options

Prudential also offers a number of deferred payment options, which pay out the proceeds over a period of time that you select. If you select a deferred payment option, Prudential will provide you with a written description of the terms of the installment payment option you selected.

• Life Income: Monthly payments to you for life.
• Life Income with a Certain Period: Monthly payments to you for life with a certain period of guaranteed payments to you or your named beneficiary.
• Fixed Period: Payment for an elected number of years, with the right to withdraw the present value of unmade payments.
• Fixed Amount: Payments of a selected amount until the proceeds and interest earned are fully paid to you, with the right to withdraw the unpaid balance.

Installment payment options

Prudential offers several installment payment options, which allow you to receive your insurance payout over a period of time that you select. Here are the options:

• Life Income: This option provides monthly payments for the rest of your life.
• Life Income with a Certain Period: This option offers monthly payments for life with a guaranteed period of payments to you or your chosen beneficiary.
• Fixed Period: This option allows you to receive payments for a fixed number of years, and you have the right to withdraw the present value of any unmade payments.
• Fixed Amount: This option provides payments of a selected amount until the proceeds and interest earned are fully paid to you, and you have the right to withdraw the unpaid balance.

Prudential will provide you with a written description of the terms of the installment payment option you select. It is important to note that the tax treatment of the death benefit may vary depending on the settlement option you choose, so consulting a tax advisor is recommended.

Life income

Prudential offers a range of life insurance policies, including term and permanent life insurance. Permanent life insurance includes "whole" and "universal" (or "variable") life insurance. Permanent life insurance policies can be kept for as long as the policyholder continues to pay the premiums. Prudential's life insurance policies can be customized to help meet specific goals or address particular concerns.

Prudential offers several options for receiving life insurance funds, including a life income option. This option provides monthly payments to the policyholder for life. There is also a variation of this option that includes a certain period of guaranteed payments to the policyholder or their named beneficiary.

Prudential's life insurance policies can help protect your family and provide financial peace of mind. They can also supplement retirement income or be used to achieve other financial goals.

Fixed period

Term life insurance provides coverage for a fixed period, such as 10 or 20 years. If the insured dies during the policy's term, their heirs receive the death benefit payout. If the insured outlives the term, the coverage and payout expire.

Prudential offers a number of payment options for life insurance proceeds, including a fixed period option. This option allows you to receive payments over a period of time that you select, such as monthly payments for a certain number of years. With the fixed period option, you have the right to withdraw the present value of any unmade payments.

The tax treatment of the death benefit may differ depending on the settlement option chosen. It is recommended that you consult a tax advisor for advice on the tax implications of your chosen settlement option.

Fixed amount

Prudential offers a range of payment options for life insurance policies, including the fixed amount option. This option allows you to receive payments of a selected amount until the proceeds and interest earned are fully paid out to you. You also have the right to withdraw the unpaid balance at any time.

To receive your life insurance funds, you will need to file a death claim. There are two ways to do this: online at www.prudential.com/claims or by contacting your financial professional. Additionally, you will need to provide the date of passing and at least one of the following: the policyholder's full name and date of birth, the policyholder's SSN, or the policy number.

Prudential also offers a retirement readiness tool to help you craft a financial plan and discover financial opportunities. You can connect with one of their advisors to discuss managing your benefits, creating a policy, or any other questions you may have.

For your convenience, Prudential offers direct deposit to U.S. banking institutions. You can enrol in this service by logging into your account and managing your banking information.

Frequently asked questions