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Lincoln Financial vs Prudential
Both are public insurers selling term and indexed life; Prudential has higher ratings and online term, Lincoln has MoneyGuard hybrid long-term care.
Verdict
Lincoln Financial and Prudential are shareholder-owned insurers that sell individual term and universal-life-type coverage, and neither sells whole life to new buyers. Prudential ranked #4 by 2024 individual life premiums ($7.99 billion) and Lincoln #5 ($6.37 billion), according to NAIC data. Both reach customers mostly through financial professionals, but Prudential also sells SimplyTerm online, while Lincoln does not sell individual life online.
Financial strength is the clearest gap. Prudential's profile lists AM Best A+ (Superior, August 2026), S&P AA-, Moody's Aa3 and Fitch AA- (on Fitch Rating Watch Negative since May 2026). Lincoln's lists AM Best A (Excellent, February 2026), S&P A+, Moody's A2 and Fitch A+, which its profile calls solid but noticeably lower than the largest mutuals and Prudential. In the J.D. Power 2026 study Prudential ranked 5th of 23 (672 points) and Lincoln 9th (661), both above the 649 average.
Corporate history matters for both. Lincoln reinsured large universal life with secondary guarantees, MoneyGuard and fixed annuity blocks to Fortitude Re in 2023, sold its wealth management arm in 2024 and took a 9.9% investment from Bain Capital in 2025; it stopped new sales of lifetime no-lapse universal life. It also faces cost-of-insurance litigation on older universal life. Prudential reinsured part of its guaranteed universal life block in 2024 and sold its legacy variable annuity company in 2022. In both cases the issuing company generally keeps servicing the policies.
Choose Lincoln Financial if
- You want a hybrid life and long-term care policy such as MoneyGuard.
- You want 30-year term convertible until age 70, or a survivorship indexed universal life.
- You work with an independent advisor and want a broad IUL and VUL lineup with recent launches.
- You want long-term care or critical illness riders on an IUL or VUL.
Choose Prudential if
- You want the higher financial strength ratings of the two.
- You want to buy a smaller term policy online without an exam (SimplyTerm).
- You want term with a one-year option or EssentialTerm coverage up to $65 million.
- You want the higher J.D. Power 2026 result (5th versus 9th).
Key differences
| Lincoln Financial | Prudential | |
|---|---|---|
| Ownership | Public (NYSE: LNC) | Public (NYSE: PRU) |
| 2024 individual life premiums | $6.37 billion (#5) | $7.99 billion (#4) |
| Level term | 10, 15, 20 or 30 years | 10, 15, 20 or 30 years; 1-year renewable |
| Hybrid life and long-term care | MoneyGuard | Not listed |
| AM Best | A (Excellent), February 2026 | A+ (Superior), August 2026 |
| S&P / Moody's | A+ / A2 | AA- / Aa3 |
| Online purchase | None for individual life | SimplyTerm term |
| J.D. Power 2026 | 9th of 23 (661) | 5th of 23 (672) |
Before you decide
Compare the same coverage from each, and for an IUL or VUL ask for illustrations at a conservative assumption plus the guaranteed column. Check the rating dates and, if you buy hybrid coverage, ask how long-term care benefits are paid. See how to compare life insurance quotes fairly, AM Best, S&P, Moody's and Fitch ratings explained and Indexed universal life (IUL) explained.
Side by side
| Lincoln Financial | Prudential | |
|---|---|---|
| Type | Shareholder-owned life insurers | Shareholder-owned life insurers |
| Customer service | 800-487-1485 | 800-778-2255 |
| Website | lincolnfinancial.com | prudential.com |
| NAIC group | Lincoln National group | Prudential of America group |
| Headquarters | Radnor, Pennsylvania | Newark, New Jersey |
| Founded | 1905 | 1875 |
| Ownership | Public company | Public company (demutualized in 2001) |
| Stock ticker | NYSE: LNC | NYSE: PRU |
| New York company | Lincoln Life & Annuity Company of New York | Pruco Life Insurance Company of New Jersey |
| How it sells | Independent financial professionals, broker-dealers, banks and other intermediaries, supported by its wholesaler arm Lincoln Financial Distributors | Prudential Advisors, independent brokers, banks and general agencies, plus online term (SimplyTerm) |
| U.S. individual life rank (2024) | 5 | 4 |
| Individual life premiums (2024) | $6.37 billion | $7.99 billion |
| U.S. market share (2024) | 4.07% | 5.11% |
| AM Best financial strength | A (Excellent) | A+ (Superior) |
| S&P | A+ (Strong) | AA- (Very Strong) |
| Moody's | A2 (Good) | Aa3 (Excellent) |
| Fitch | A+ (Strong) | AA- (Very Strong) |
| J.D. Power | Ranked 9th of 23 brands (661 points; study average 649) in the J.D. Power 2026 U.S. Individual Life Insurance Study | Ranked 5th of 23 brands (672 points; study average 649) in the J.D. Power 2026 U.S. Individual Life Insurance Study |
| Term lengths | Level term for 10, 15, 20 or 30 years (Lincoln LifeElements Level Term) | 10, 15, 20 or 30 years (EssentialTerm and Term Essential); 1-year renewable (PruTerm One); 5 to 20 years online (SimplyTerm) |
| No-exam options | — | SimplyTerm is sold online with no medical exam or lab work for $25,000 to $1 million; applicants under 60 may not need an exam for EssentialTerm |
| Best suited to | Buyers working with an independent advisor who want indexed or variable universal life, or life insurance combined with long-term care coverage. | Buyers who want a large term policy, indexed or variable universal life, or quick online term coverage from a long-established public insurer. |
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Facts come from each insurer's profile, where every figure carries its source and review date. Premiums are personal: compare quotes for the same coverage, not just companies.
Last reviewed October 24, 2026