Prudential Financial to suspend applications for 30-year term life insurance policies

(Reuters) – Prudential Financial Inc will temporarily suspend taking applications for 30-year term life insurance policies, effective April 13, a spokeswoman said on Friday.

The suspension, which will last until June, is in response to “unprecedented market volatility over the past month and the anticipated low interest rate environment for the foreseeable future,” Prudential said in a statement.

(Reporting by Suzanne Barlyn; Editing by Sandra Maler)