Fox Business has reported that Prudential Insurance is suspending applications for some life insurance products during the Coronavirus Pandemic. Their article beings as follows:
Americans seeking life insurance coverage have one less option to choose from, as one of the industry’s major players announces coronavirus-related changes.
Prudential said it would suspend its acceptance of applications for 30-year term life insurance policies due to “unprecedented market volatility” and “the anticipated low interest rate environment for the foreseeable future.”
The suspension will be in place until June.
“It’s not shocking that a major life insurer like Prudential is suspending its 30-year term life coverage until June,” Les Masterson, managing editor at Insure.com, told FOX Business. “There is so much in flux right now. Insurance companies don’t like volatility. Their business is all about preventing risk.”
To see full article, click: Prudential suspends applications for some life insurance policies | Fox Business
Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.