NEWARK, N.J.—Prudential Financial, Inc. is offering CU members a simplified issue, term-life insurance policy called “MyTerm” that will be made available through credit unions.
The company said members can apply online, with qualified members having a policy in about 10 minutes. Members will have the option of printing the documents or saving them electronically.
“We’ve created this new access point for consumers who look to their financial institution as their trusted advisor,” said Jim Avery, president of Prudential’s Individual Life Insurance business.
MyTerm is being targeted at the middle-market consumer, and offers a 10-, 20- or 30-year level term policy with face values between $50,000 and $250,000, issued by Pruco Life Insurance Co. Credit unions, in turn, can earn non-interest fee income. For info: 800-527-0066.
