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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.”