Franklin Madison Announces Up to $50,000 in Prudential-Issued Life Coverage Through Financial Institutions

Franklin Madison announced September 29 that eligible customers can obtain up to $50,000 of group life insurance through a financial institution without health questions, a medical exam or a medical-record review. Franklin Madison administers the Guaranteed Issue Life Insurance offering; The Prudential Insurance Company of America issues the coverage.

For customers who want life coverage without medical screening, the new choice is a financial-institution offer with guaranteed acceptance for those who qualify. The announcement does not name a participating institution, so customers need to check whether their bank or credit union offers it.

Coverage features and boundaries

Franklin Madison says the offer has no waiting period or age-based reduction in benefits. It also includes an accelerated benefit for terminally ill insureds. The maximum coverage amount is $50,000.

Eligibility still matters, and Prudential’s group contract and booklet-certificate govern exclusions, limitations and restrictions. A customer considering the offer can confirm availability with their institution and review the certificate, coverage amount and price before deciding whether it fits their needs.