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Prudential Waives Late Fees for Flood Victims

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Prudential Insurance Company’s customers in North Dakota, South Dakota and Northern Minnesota who are victims of the record flooding will not have to worry about paying their Prudential bills for now.

Prudential announced today it will extend its premium payment deadlines for life insurance and property and casualty insurance coverage. In addition, Prudential Bank announced it will offer assistance on credit card accounts to help people in areas affected by the flooding cope with this disaster.

The Prudential Foundation made a $25,000 contribution in support of the Salvation Army’s flood relief efforts and Prudential HealthCare is donating money to the American Red Cross for administering Tetanus vaccinations.

“We know how difficult it will be for these families to rebuild their communities and their lives after the waters recede. We want to do our part to help them get their lives back to normal,” said Prudential Chairman and CEO Arthur F. Ryan.

Auto and homeowner insurance customers get an extension to July 3 to pay their May and June premiums. Policies in the areas affected will not be terminated because of non-payment during this period. In addition, Prudential will take the flooding situation into consideration on late payments made prior to the extension period. Customers who have questions should call 800-437-5556.

Life insurance customers who are unable to make life insurance premium payments due from March through May 1997 can pay those premiums through July 3, without fear of penalty.

In addition, if a life insurance policy has dividend or loan value, Prudential will do everything possible to expedite a request for funds from these values, should the customer need the money. Customers with life insurance questions should call 800-778-2255.

Prudential Bank credit card customers who fall behind as a result of the flooding conditions can have their late penalties waived by contacting the bank. This program will apply to bills generated during May and June. Credit card customers with questions should call 800-322-2369.

Meanwhile, Prudential employees in the Minneapolis/St. Paul area initiated special collection centers at Prudential facilities for donations of cleaning supplies, food items and paper products for families affected by the severe flooding in Grand Forks and the surrounding area.

This initiative is just the latest relief effort by Prudential and its employees to reach out to families affected by the devastating floods in the Midwest. When homes were ravaged by flood waters in New Albany, Indiana, volunteers from Prudential’s Individual Insurance Group collected more than $2,000 — with an additional donation of $1,000 from Prudential Property and Casualty Insurance Company office in Oakbrook, Illinois to purchase cleaning supplies and then distributed them to area residents as they returned to their homes.

Prudential HealthCare employees in Cincinnati, Ohio took part in a similar effort, collecting money, batteries, baby food, blankets, and other supplies for flood victims there. And in Louisville, Kentucky, where more than 60 Prudential families had their homes damaged by flood waters, Prudential provided cash advances and leave with pay for these families.

The Prudential Foundation, an independent nonprofit grant-making organization funded by contributions from the Prudential Insurance Company of America, made a $25,000 donation earlier this month to the American Red Cross for flood relief efforts.

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