NEWARK, N.J., December 12, 2016 - Prudential Financial, Inc. (NYSE: PRU) announced today that it will suspend the distribution of MyTerm policies through all Wells Fargo bank branches and website, pending the results of Prudential’s review of how the product is sold by Wells Fargo.
Launched in 2007, MyTerm is a simplified issue term insurance product that was created to give customers greater choice and access to life insurance through a self-assisted, technology-enabled application process. In June 2014, Prudential entered into a distribution agreement with Wells Fargo, whereby the MyTerm product was made available to Wells Fargo customers through self-service kiosks in Wells Fargo bank branches and its website.
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