Prudential Expands Financial Wellness Capabilities

The new solutions will help employees manage student loan debt, navigate job changes, access financial coaching and develop a personalized financial roadmap.

Prudential Financial Inc. introduced a range of new financial wellness solutions, which will be available via employers, to help individuals manage student loan debt, navigate job changes, access financial coaching and develop a personalized financial roadmap.

Prudential’s workplace financial wellness platform now includes LINK by Prudential, an interactive, personalized resource that enables people to identify their most important financial milestones and create a path toward achieving them. Already available to individuals through Prudential’s website, employees can use LINK to create an online personal profile and establish goals like building an emergency fund, insuring loved ones, saving for retirement or purchasing a home.

LINK by Prudential leverages AI technology, allowing employees to integrate their existing Prudential retirement accounts and non-Prudential financial accounts to help round out their financial wellness roadmap. The LINK experience enables employees to be self-guided, work with an investment adviser via video chat or phone or meet in person with a financial professional from Prudential Advisors.

Prudential is also expanding its financial wellness engagement capabilities to include a financial coaching service, available via phone and one-way screen share. This coaching service is designed to help individuals learn about and adopt healthier financial behaviors, such as developing and sticking to a budget. The service is being piloted with selected employers.

The company is adding several new solutions that focus on specific life events and customer needs. In addition to the emergency savings and budgeting solutions it already offers, Prudential is launching Student Loan Assistance, an online resource that enables individuals to evaluate student loan consolidation and repayment options, and allows employers to make one-time or ongoing repayment contributions. Prudential is partnering with Vault, an Austin, Texas-based student loan technology benefits firm, to provide this service.

The company is also introducing PruPassages, a new program that helps people make more-informed decisions and maintain financial wellness during a job transition. As part of the service, a licensed financial professional from Prudential Advisors proactively reaches out to employees to offer guidance on their options to continue life insurance coverage. Employees can also receive a complimentary evaluation of their financial needs, priorities and goals.

In addition, Prudential is providing new beneficiary services for individuals who have just lost a loved one, with an easier claim process and resources to help guide their decision-making. These new capabilities include digital submission of claim forms, text and email status alerts, and online resources that help beneficiaries navigate tasks like planning a funeral and managing their loved one’s financial and social media accounts.

“Each person’s journey to financial wellness is deeply personal and constantly evolving,” says Judy Dougherty, who was recently appointed Prudential’s chief financial wellness officer. “We all face pivotal financial decisions throughout our lives, when the choices we make have the potential to either put us on a track toward financial health or derail us. This insight has guided our work on new solutions that are designed to be as in sync as possible with our customers’ lives. From digital experiences to coaching and in-person advice, our goal is to meet our customers where they are, and to help them to make informed decisions that establish and sustain their financial wellness over a lifetime.”

To learn more about Prudential’s Financial Wellness offerings for the workplace, visit www.prudential.com/employers/financial-wellness.

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