Life Insurance Quotes

Prudential to offer in-person financial advice to retirees

09/29/11

Prudential Life Insurance is resurrecting a familiar program in the United Kingdom with the return of the door-to-door insurance premium's collector, according to Financial Services Net. This updated version of the "man from the Pru" will provide financial advice to seniors and those approaching retirement, selling Prudential products like life insurance policies and pension plans.

The pilot program will enlist 80 financial advisers, all of whom will exclusively recommend Prudential products, though a potential expansion would enlist independent financial planners. Officials at Prudential say that many people approaching retirement have not enlisted the advice of a financial planner, and the program is designed to help these persons understand their options.

While many companies are offering more automated online services for life insurance enrollment and administration, Prudential's initiative aims to put a friendly face on life insurance and financial planning.

In the United States, life insurance enrollment, especially on an individual policy level, has seen significant decline in the wake of the economic downturn. A 2011 LIMRA study found that just one in three Americans was covered by an individual life insurance policy in 2010, the lowest rate in half a century.

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