Compare Prudential Life Insurance vs. Lincoln Financial Life Insurance

Do you need to compare Prudential life insurance vs. Lincoln Financial life insurance? It makes sense — both companies have strong reputations and vast policy selections. Whether you need short-term protection or a policy that lasts your entire life, you'll find plenty of options that fit the bill.

What Types of Life Insurance Products Do Prudential and Lincoln Financial Offer?

Prudential and Lincoln Financial both offer a wide selection of life insurance products. Lincoln Financial tends to offer higher coverage limits, particularly when it comes to term life insurance policies. Make sure to check policy availability in your state; not all options are available in every location.

Because the two companies' life insurance offerings are so similar, it's worth your time to compare quotes for the policy types that meet your needs — you may find that one company offers lower prices for similar benefits.

Prudential Life Insurance Products

Term Life Insurance

Prudential's term life insurance policies are affordable and flexible. Choose from two options:

• SimplyTerm: With terms of 10, 15, 20 or 30 years and coverage that ranges from $100,000 to $1,000,000, SimplyTerm offers ample flexibility. You can get a quote in minutes and apply online.
• Term Essential: For these term life policies, premiums stay the same for your chosen term of 10, 15, 20 or 30 years. Before the end of the term, you have the ability to convert the policy to a permanent policy without scheduling a medical exam. You can also add on the Living Needs Benefit to access part of the death benefit early in case of terminal illness.

Universal Life Insurance

Universal life insurance policies from Prudential offer long-term or lifetime protection. They come with a death benefit and the ability to change your premium payments. These policies earn interest and build cash value. 

• PruLife Essential UL: These affordable policies come with a no-lapse guarantee, as long as you pay premiums and meet Prudential's requirements. It offers a minimum crediting rate of 2% to ensure growth.
• PruLife SUL Protector: This type of insurance covers two people, and it doesn't pay a death benefit until both people have passed. You can adjust the guaranteed coverage period by changing the premium amount.

Indexed Universal Life Insurance

These policies are tied to a market index; they accumulate cash value based on index performance. All options offer flexible premium amounts and payment frequency.

• PruLife Founders Plus UL: Balance affordable premiums with growth potential with these policies, which offer three crediting options. 
• PruLife Index Advantage UL: This type of policy offers the biggest growth potential. You can choose between a fixed interest rate and two S&P 500 index accounts with a 0% floor to prevent financial losses.
• PruLife Survivorship Index UL: These policies insure two people. They offer similar crediting options to the Index Advantage UL.

Variable Universal Life Insurance

Variable universal policies offer growth potential for people with a higher risk tolerance. Each one gives you control over investment options, so you can maximize cash value growth.

• VUL Protector: VUL Protector offers moderate growth and moderate risk, along with a no-lapse guarantee.
• PruLife Custom Premier II: Designed for long-term growth, this policy is designed for people who can tolerate a high level of risk. The no-lapse guarantee helps protect your policy in the years before it accumulates significant cash value.
• PruLife SVUL Protector: This survivorship policy covers two people and comes with a no-lapse guarantee.

Lincoln Financial Life Insurance Products

Term Life Insurance

Lincoln Financial's term life policies provide temporary coverage. Both offerings are available in terms of 10, 15, 20 or 30 years. 

• Lincoln TermAccel Level Term: These policies offer online applications and automated approvals; in some cases, you may need a phone interview or lab work. Coverage amounts range from $100,000 to $2,500,000.
• Lincoln LifeElements Level Term: If you need high-value coverage, this type of term life insurance delivers; it starts at $250,000 and caps out at higher amounts based on your qualifications.

Universal Life Insurance

With lifetime protection and a set interest rate, universal policies offer moderate, predictable growth potential. Each policy enables you to adjust the premiums and death benefit.

• Lincoln LifeGuarantee UL: With guaranteed premiums, an optional guaranteed death benefit and plenty of flexibility, this universal policy adapts to your needs.
• Lincoln LifeGuarantee SUL: This survivorship insurance offers coverage protection, a funding level test and flexible options.

Indexed Universal Life Insurance

Indexed Universal life insurance offers medium growth potential and downside protection. Your policy is linked to a market index.

• Lincoln WealthAccumulate 2 IUL: Choose from six indexed accounts; as your cash value grows, you can access it through loans.
• Lincoln WealthPreserve 2 IUL: With a long-term death benefit guarantee and five indexed account options, these policies offer peace of mind and protection.
• Lincoln WealthPreserve 2 Survivorship IUL: This survivorship policy is designed to minimize your tax exposure and offer growth via six indexed accounts.

Variable Universal Life Insurance

If building wealth is your primary goal, Lincoln Financial's variable universal policies offer the biggest potential. With more than 75 investment options, you have ample control over how your premiums are invested.

• Lincoln VULONE: With a guaranteed death benefit and flexible rider options, these policies offer maximum protection.
• Lincoln AssetEdge VUL: This policy doesn't have income limits and offers a 20-year no-lapse provision.
• Lincoln AssetEdge Exec VUL: These policies can fund your company's executive benefits plan or buy-sell agreement.
• Lincoln SVULONE: This survivorship insurance covers two people and is available with enhanced death benefit protection.

Compare Prudential Life Insurance vs. Lincoln Financial Life Insurance: Rider Availability

Prudential and Lincoln Financial both offer a selection of riders to help customize your life insurance policy. Not all riders are available with all policies, but some options include:

• Accelerated benefits
• Children's level term insurance
• Waiver of premium
• Chronic illness 
• Accidental death benefit
• Waiver of monthly deductions
• Enhanced cash value
• Overloan protection
• Estate protection 
• Guaranteed policy split

Prudential Life Insurance vs. Lincoln Financial Life Insurance: Financial Strength Ratings

Prudential and Lincoln Financial are both established, respected life insurance providers with a long history in the United States. The companies' financial strength ratings are based on an outside assessment; these ratings can help you decide if the company is likely to pay claims and meet its obligations.

It's important to note that while Prudential ratings come with a stable outlook rating across the board, Lincoln Financial's ratings include a negative outlook from S&P in December of 2021.

How Easy Is It To Get Life Insurance From Prudential and Lincoln Financial?

Prudential and Lincoln Financial allow you to get quotes and apply online for certain term life policies. To get other types of insurance from either company, you'll need to work with a financial professional.