Prudential vs. Nationwide: Term Insurance Compared

When it comes to Prudential vs. Nationwide, you’re comparing two A+ rated carriers that price term insurance within a few dollars of each other, and that split their term lines in ways that matter more than the premium. In our live rate check, neither carrier won consistently: Nationwide was cheaper in three of five profiles, Prudential in the other two, and the gaps ranged from about $1.31 to $7.88 a month. The real differences are in conversion windows, living benefits, how many term products each carrier sells, and whether a no-exam route costs you your conversion rights.

Live Rate Comparison: Prudential vs. Nationwide

Rates below come from Compulife® as of October 2026 for a $500,000 20-year term policy, non-tobacco, Nevada. Rates are subject to change and depend on full underwriting. Individual outcomes vary.

Profile	Prudential (Pruco)	Nationwide	Difference
Male, 30, Preferred Plus, $500K 20-yr	$24.94/mo	$22.75/mo	$2.19 (Nationwide cheaper)
Female, 40, Preferred Plus, $500K 20-yr	$31.07/mo	$27.13/mo	$3.94 (Nationwide cheaper)
Male, 45, Preferred Plus, $500K 20-yr	$49.88/mo	$51.19/mo	$1.31 (Prudential cheaper)
Male, 45, Standard (Regular), $500K 20-yr	$96.25/mo	$104.13/mo	$7.88 (Prudential cheaper)
Male, 55, Preferred Plus, $500K 20-yr	$130.38/mo	$123.81/mo	$6.57 (Nationwide cheaper)

Rates sourced from Compulife® October 2026, NV, non-tobacco. A.M. Best ratings shown by Compulife: Pruco Life A+, Nationwide Life and Annuity A+. Rates subject to change. Not an offer of insurance.

Key takeaway: There is no clean age pattern here. Nationwide was cheaper at 30, for the 40-year-old woman, and at 55, while Prudential was cheaper for the 45-year-old man in both health classes. The biggest gap we found was $7.88 a month at age 45 Standard, which would add up to roughly $1,900 over a 20-year term. This is a five-profile sample, so run your own age and health class before deciding on price.

Which products are these quotes for? Compulife returns one price per carrier and does not say which product it is quoting. Each carrier sells more than one term product, so confirm the exact product when you request a quote.

Prudential: Overview — EssentialTerm Value vs. EssentialTerm Plus

Prudential Financial, founded in 1875, is one of the largest life insurers in the country. Its EssentialTerm Suite is issued through Pruco Life Insurance Company (Pruco Life Insurance Company of New Jersey in NY) and includes two term products that differ almost entirely in their conversion privilege:

• EssentialTerm Value is the more affordable, budget-focused option. For the first seven years, or until age 70 if that comes first, you can convert to any Prudential permanent product, with a conversion premium credit in years two through seven. From year eight through the end of the level premium period (or age 70, whichever comes first), conversion is still available but only to a designated permanent product.
• EssentialTerm Plus costs a bit more but lets you convert to any permanent product Prudential offers throughout the level premium period or until age 70, whichever comes first, with the same conversion credit in years two through seven. The tradeoff is a narrower issue-age window: Prudential’s fast-facts sheet lists a non-tobacco maximum issue age of 62 on 10-, 15-, and 20-year terms for Plus, versus 75 on EssentialTerm Value’s 10-year term.

Both products are available in 10-, 15-, 20-, and 30-year terms with a $100,000 minimum face amount, and both include a Terminal Illness accelerated benefit at no additional premium. Both also qualify for PruFast Track, Prudential’s accelerated underwriting process, which can waive the medical exam and lab work for eligible applicants (generally ages 18 to 60; confirm current limits). Applicants who do not qualify go through traditional underwriting with an exam.

What Prudential Does Well

• Two-tier conversion strategy. Budget-focused buyers get Value’s 7-year any-product window; buyers who expect to convert later can choose Plus for any-product access through the level term.
• Conversion window that can reach age 70 on EssentialTerm Plus, including on a 30-year term.
• A possible no-exam path that keeps conversion rights. PruFast Track can waive the exam for eligible applicants without changing the product’s conversion privilege.
• Competitive pricing for the 45-year-old male in both health classes we checked.

Prudential’s Limitations

• The living benefit included on the term policy itself is generally limited to the Terminal Illness Rider.
• EssentialTerm Plus’s broader conversion privilege comes with a much lower maximum issue age than EssentialTerm Value.
• Priced above Nationwide at ages 30 and 55 and for the 40-year-old woman in our check.

Nationwide: Overview — Guaranteed Level Term vs. Life Essentials

Nationwide is one of the largest life insurance providers in the U.S., and, like Prudential, it sells two term products that serve different buyers:

• Nationwide YourLife Guaranteed Level Term is the traditionally underwritten product. It is offered in 10-, 15-, 20-, and 30-year terms and carries guaranteed conversion privileges. A Nationwide product highlights sheet lists issue ages of 18 to 70 on 10-year terms, 18 to 65 on 15- and 20-year terms, and 18 to 50 (men) or 18 to 55 (women) on 30-year terms. That sheet is undated, so confirm current limits when you quote.
• Nationwide Life Essentials is the direct digital, no-exam product. Nationwide’s term page says no medical exam is needed for 10- or 20-year coverage up to $1.5 million, and that anyone ages 21 to 55 can apply. Published summaries put the minimum at $250,000. Nationwide’s own educational material says Life Essentials does not offer a conversion option to permanent insurance.

Living benefits. Nationwide says its Chronic Illness, Critical Illness, and Terminal Illness benefits are automatically included on most Guaranteed Level Term policies, with no initial cost or upfront monthly charge. A cost is incurred if a benefit is used, because the payout reduces the death benefit by more than the amount paid. Nationwide notes that the chronic and critical illness benefits are not available on 10-year terms or after age 55, and the chronic illness benefit is limited to up to 20 percent of the death benefit.

What Nationwide Does Well

• A real no-exam digital option up to $1.5 million (Life Essentials), if you can accept no conversion right.
• Conversion without evidence of insurability on Guaranteed Level Term, issued at the risk class of the original term policy.
• Chronic, critical, and terminal illness benefits automatically included on most Guaranteed Level Term policies, within the limits above.
• Competitive pricing at ages 30, 40 (female), and 55 in our check.
• A+ A.M. Best rating and a broad lineup that includes whole life for conversion planning.

Nationwide’s Limitations

• The conversion window on Guaranteed Level Term is shorter on long terms. It covers the first 10, 15, 20, or 20 policy years on 10-, 15-, 20-, and 30-year terms, and conversion must occur before attained age 65. On a 30-year term, that is only the first 20 years.
• The no-exam product has no conversion right and a narrower age range (21 to 55).
• Chronic and critical illness benefits are not available on 10-year terms or after age 55.
• Priced above Prudential for the 45-year-old male in our check, with the largest gap at the Standard class.

Features Side by Side

Feature	Prudential (EssentialTerm Value / Plus)	Nationwide (Guaranteed Level Term / Life Essentials)
Term lengths	10, 15, 20, 30 years	Guaranteed Level Term: 10, 15, 20, 30. Life Essentials: 10 or 20
Underwriting	Traditional with exam, or PruFast Track accelerated underwriting (no exam) for eligible applicants	Guaranteed Level Term: traditional underwriting. Life Essentials: no medical exam
Face amounts	$100,000 minimum	Guaranteed Level Term: confirm the minimum and maximum when you quote. Life Essentials: $250,000 to $1.5M
Issue ages	Per Prudential’s fast-facts sheet, maximum issue age (non-tobacco), minimum 18: Value 75 (10-yr), 70 (15-yr), 65 (20-yr), 55 (30-yr). Plus 62 (10-, 15-, and 20-yr), 55 (30-yr). Tobacco maximums are lower on 20- and 30-year terms	Guaranteed Level Term per an undated sheet: 18 to 70 (10-yr), 18 to 65 (15- and 20-yr), 18 to 50 men / 18 to 55 women (30-yr). Life Essentials: 21 to 55
Conversion window	Value: any product for years 1 to 7, then designated product. Plus: any product through the level term. Both limited to age 70	Guaranteed Level Term: first 10, 15, 20, or 20 policy years (10-, 15-, 20-, 30-year terms), before age 65. Life Essentials: none
Living benefits on term	Terminal illness acceleration included at no additional premium	Guaranteed Level Term: chronic, critical, and terminal benefits automatically included on most policies, no upfront charge (chronic and critical not on 10-year terms or after age 55)
A.M. Best rating (per Compulife)	A+	A+

Conversion Options Compared

• Prudential EssentialTerm Value: Convert to any permanent product during the first seven years (or until age 70, whichever comes first) with a premium credit in years two through seven; designated-product-only conversion from year eight through the end of the level premium period or age 70.
• Prudential EssentialTerm Plus: Convert to any permanent product throughout the level premium period or until age 70, whichever comes first, with no designated-product restriction.
• Nationwide Guaranteed Level Term: Nationwide guarantees conversion without evidence of insurability to its permanent products, with a few listed exceptions such as CareMatters II. The conversion period is the first 10 policy years on a 10-year term, 15 on a 15-year term, 20 on a 20-year term, and 20 on a 30-year term, and conversion must occur before attained age 65. The converted policy is issued at the risk class of the original term policy, with premiums based on attained age.
• Nationwide Life Essentials: No conversion option.

Conversion rights matter most to people who expect their needs to outlast the term. On a 30-year term, Prudential’s EssentialTerm Plus window can run to age 70, while Nationwide’s covers only the first 20 policy years and closes before age 65 at the latest.

Which Carrier Fits Which Buyer

The profiles below are illustrations built from the rates above, not descriptions of real client cases.

• A 30-year-old buying $500,000 of 20-year term on price alone. In our check, Nationwide was $2.19 a month lower ($22.75 vs. $24.94).
• A 40-year-old woman comparing the two. Nationwide was $3.94 a month lower ($27.13 vs. $31.07).
• A 45-year-old man in the Standard class. Prudential was $7.88 a month lower ($96.25 vs. $104.13), the largest gap in our check.
• A 40-year-old buying a 30-year term who may want to convert in their 60s. Prudential’s EssentialTerm Plus window can run to age 70, while Nationwide’s Guaranteed Level Term window on a 30-year term covers only the first 20 policy years, which would end at age 60.
• Someone who wants a fully online, no-exam policy of $250,000 to $1.5 million and does not expect to convert. Nationwide’s Life Essentials is built for that, with the tradeoff that it has no conversion right. An eligible applicant might also qualify for Prudential’s PruFast Track and keep conversion rights.

The Verdict

Choose Prudential if:

• You want the longest, broadest conversion window (EssentialTerm Plus, any product, up to age 70).
• You want the most affordable option with a 7-year any-product conversion window (EssentialTerm Value).
• You want a possible no-exam route that does not cost you conversion rights (PruFast Track, if you qualify).
• You are a 45-year-old male comparing prices, where Prudential came out ahead in both health classes we checked.

Choose Nationwide if:

• You want chronic, critical, and terminal illness benefits automatically included on a traditionally underwritten term policy, within the 10-year-term and age-55 limits above.
• You want a fully online no-exam option up to $1.5 million and can live without a conversion right (Life Essentials).
• You want conversion without evidence of insurability and your likely conversion date falls inside Nationwide’s window (before age 65, and within the first 20 policy years on a 30-year term).
• You are in one of the profiles where it priced lower in our check (30, 40 female, or 55).

Because the price result flips by profile and each carrier sells two quite different term products, the right answer depends on your age, health class, and how much you value conversion and living benefits. See our guide on why an independent broker beats going direct for why that comparison is worth doing before you apply anywhere. If you are weighing a no-exam route, read our overview of life insurance without a medical exam, and if you are not sure how much coverage you need, our life insurance needs calculator is a good starting point.

Frequently Asked Questions

Is Prudential or Nationwide cheaper for term life insurance?

Neither was cheaper consistently in our October 2026 Compulife check. Nationwide was cheaper for a 30-year-old male ($22.75 vs. $24.94), a 40-year-old female ($27.13 vs. $31.07), and a 55-year-old male ($123.81 vs. $130.38), while Prudential was cheaper for a 45-year-old male in both Preferred Plus ($49.88 vs. $51.19) and Standard ($96.25 vs. $104.13). All figures are for $500,000 of 20-year term, so compare both at your own age and health class.

What is the difference between Prudential EssentialTerm Value and EssentialTerm Plus?

EssentialTerm Value is the more affordable option, allowing conversion to any Prudential permanent product during the first seven years with a premium credit, then to a designated product only. EssentialTerm Plus costs somewhat more but allows conversion to any permanent product throughout the level premium period or until age 70, whichever comes first, though it has a narrower maximum issue age.

What is the difference between Nationwide Guaranteed Level Term and Life Essentials?

Guaranteed Level Term is Nationwide’s traditionally underwritten term product, offered in 10-, 15-, 20-, and 30-year terms with conversion privileges and automatically included living benefits on most policies. Life Essentials is a direct digital, no-exam product for ages 21 to 55, in 10- or 20-year terms up to $1.5 million, and it has no option to convert to permanent coverage.

How long can I convert a Nationwide term policy to permanent coverage?

On Guaranteed Level Term, conversion is allowed during the first 10 policy years of a 10-year term, 15 of a 15-year term, 20 of a 20-year term, and 20 of a 30-year term, and before attained age 65, without evidence of insurability. Nationwide Life Essentials does not offer conversion. Confirm the exact window in your policy.

Which carrier has the longer conversion window, Prudential or Nationwide?

Prudential’s EssentialTerm Plus allows conversion to any permanent product throughout the level premium period or until age 70, whichever comes first. Nationwide’s Guaranteed Level Term window ends before age 65 and, on a 30-year term, covers only the first 20 policy years. EssentialTerm Value’s any-product window is shorter, covering the first seven years, with designated-product conversion afterward.

Does Nationwide term life insurance include chronic and critical illness benefits?

According to Nationwide, its chronic illness, critical illness, and terminal illness benefits are automatically included on most Guaranteed Level Term policies with no initial cost or upfront monthly charge. Using a benefit reduces the death benefit, and the chronic and critical illness benefits are not available on 10-year terms or after age 55. Prudential’s term policies generally include only a terminal illness benefit.

Authoritative Resources

• NAIC — Life Insurance Consumer Information
• A.M. Best — Insurer Financial Strength Ratings