Prudential

  • 1994 0613 - APNews - Life Insurance Buyers Allege Misleading Sales Tactics Were Used With PM-Vanishing, by Mark Dennis - [link]  
  • 1996 0626 - LA Times - Prudential Told Staff to Destroy Documents, Memo Shows, by Scot J. Paltrow - [link]
    • A spokeswoman for the New Jersey insurance department said the task force had not been aware of any alleged destruction of potential evidence until it was shown a copy of the memo by The Times.
    • The spokeswoman, Kathleen Bird, added that the task force had not specifically looked into the materials related to Prudential’s “private pension” program, which were the subject of the memo.
    • The memo refers to sales material Prudential agents used to sell the firm’s private pension program, in which older people were urged to take money out of other investments, such as certificates of deposit, and invest it with Prudential for retirement income. Some Prudential customers have alleged in lawsuits that they were misled into believing they were making investments and weren’t told they were actually buying life insurance.
    • The memo, sent via the firm’s internal message system, stated: “We just learned this morning that one state is looking into possible violations regarding our ‘private pension’ materials. You must destroy all private pension letters other than the approved versions I referred to in my earlier focus message today. . . . Again, destroy and discard any other letters. I remind you that we’re mailing you copies of the approved versions today. ‘Life insurance’ now appears in both.”
  • 1996 1127 - LATimes - Ex-Insider Offers Look at Seeds of Prudential Scandal, by William C. Rempel and Scot J. Paltrow - [link]
  • 1996 1218 - NYT - Prudential Policyholders' Deadline Nears, By Joseph B. Treaster - [link]
    • The last opportunity for 10.7 million Prudential Insurance policyholders to battle the company on their own over whether they were cheated by agents is fast approaching
  • 1997 0311 - NYT - Life Insurance Settlement (Prudential), by Andy Newman - [link]
  • 1997 1018 - Tampa Bay Times - Pru boss linked to material removal, by Richard Verrier - [link]
    • Prudential had placed a moratorium on production of its sales and marketing materials after the state Insurance Department began investigating the sales practices of Metropolitan Life Insurance Co.
      • MetLife was accused of illegally selling its life insurance disguised as retirement policies and annuities.
  • Prudential Experience
  • Prudential Financial Modeling
  • Prudential Mortality
  • Prudential Regulation

We were very unenthusiastic latecomers to universal life.

--  Gilbert W. Fitzhugh, Senior Vice President and Actuary at PRUCO Life, stock subsidiary of the Prudential Insurance Company

1986 - SOA - Variable Life/Fixed and Flexible Premium, Society of Actuaries - 38p

  • 33 percent of the sales complaints concerned misrepresentation by agents in the course of a sale. (p8)
  • Such complaints were not new, but due to recent media attention and other factors, have been received and handled in large numbers. (p12)
  • There is ample evidence to suggest that many of the practices at Prudential are, or were, present at other life insurers.

1996 05 - Report of The Multi-state Life Insurance Task Force and Multi-state Market Conduct Examination of The Prudential Insurance Company of America - By the Examiners of The Multi-state Life Insurance Task Force From Several State Departments of Insurance and other State Regulatory Agencies - 270p

  • Robert Beck
  • Walter Miller
  • Julius Vogel
  • * Paying more than the required minimum premium can help build cash value

2021 - Prudential - Cash Value: Life Insurance in Retirement Planning - 2p

  • 2022 - Prudential - THE TAX ADVANTAGES OF LIFE INSURANCE - 3p