On Monday, June 26th, Prudential released their new PruLife SVUL Protector.
On Monday, June 26th, Prudential further enhanced its variable universal life offering with the introduction of their new survivorship product, the PruLife SVUL Protector. Coming to the market with competitive premiums and strong primary guarantees, the SVUL Protector enters the ring as one of the strongest contenders for the Survivorship VUL market.
As a protection play, SVUL Protector offers two distinct forms of guarantees-either as a baseline primary guarantee with every policy or as a specified, dial able no-lapse guarantee. The average age for primary guarantees in endowment at maturity scenarios is about age 86. Premiums tend to land right at or near the top, mostly finding their way into the top quartile when considering endowment at maturity scenarios. At either 8% or 6% illustrated rate, SVUL Protector is very competitive. Illustrating at 8% has a slight competitive edge with more scenarios at the peak of the market, but both rates illustrate extremely well. Combining top-tier premiums and significant guarantees creates a strong narrative, especially for clients who desire the high-risk, high-reward of the variable market, but still desire a solid foundation in case of catastrophic market downturns.
SVUL Protector, while not intended as an income-oriented product, gives a better showing than perhaps expected. Distributions landed right around the middle of the pack, and were frequently within 10% of the leader at 8% illustrated rate. For this reason, we included them in LifeTrends maximum distribution benchmarks.
Targets tended towards the back of the pack for both endowment and income solves.
SVUL Protector’s position of strength is only further enhanced by utilizing Prudential’s Age Last Birthday advantage.
CLICK HERE to view the Official Announcement PDF
CLICK HERE to view the SVUL Protector Snapshots
CLICK HERE to view the SVUL Protector ALB Snapshots