PRUterm total refund

We understand you want protection that pays back what you paid for it.

Now, there's an insurance policy that offers you not just comprehensive protection against the unforeseen, but also a full refund of all the premiums that you pay for it1.

Benefits^

PRUterm total refund allows you to pay off your premiums in 10 years, be covered for 20 years, and get your premiums back upon cover expiry1.

Guaranteed refund of premiums upon cover expiry1
PRUterm total refund covers you against Death, Terminal Illness and Disability2 for 20 years, but you'll only pay premiums for the first 10 years of this plan. When the policy expires after 20 years, you can look forward to getting back all the premiums you paid for it.

Lump sum payout plus premium refund1
In the event of Death, Terminal Illness or Disability2, you or your loved ones will receive the sum assured, plus total premiums, paid in one lump sum.

Accidental Death Benefit
In the event of Accidental Death, your loved ones will receive an additional sum assured. This also covers Accidental Death due to participation in high-risk activities3, including those carried out in the course of peace-time reservist duty or full-time National Service3.

Guaranteed premiums and renewability4
Your PRUterm total refund premiums will remain unchanged throughout the policy term; plus, you'll enjoy the additional reassurance of guaranteed renewal throughout the 20-year policy term.

 

^ Terms and conditions apply
Footnotes:
1 The total premiums paid, without interest, will be refunded upon Death, Terminal Illness or Disability of the life assured; or the Cover Expiry Date of the policy, whichever event occurs first. If the policy is surrendered before Cover Expiry Date, policy will return a percentage of the total premiums paid without interest. In some situations, there may be no refund of total premiums paid. Please refer to the policy document for the exact terms and conditions.
2 For Accelerated Terminal Illness and Accelerated Disability Benefit, the benefit will cease on the policy anniversary immediately before the life assured turns 65.
3 Reduction of benefits due to High-Risk Activities to 50% or 75% of the sum assured for Accidental Death Benefit. Exclusions apply. Please refer to your policy document for the exact terms and conditions.
4 The premium amount and renewal is guaranteed provided premiums are paid within 30 days of the date they are due.

How it works

Mr. Ang, a Singaporean, non-smoker, who'll be 35-years old on his birthday, has a PRUterm total refund policy with a sum assured of S$100,000 and an annual premium S$1,7655. In the 5th year of his policy, Mr. Ang meets with an unfortunate car accident and passes away 1 week later. His total premiums paid till then are S$1,765 x 5 = S$8,8255.

 

His loved ones will receive the following payouts
Death benefit $100,000
Accidental Death benefit $100,000
Refund of Total Premiums paid $8,825
Total policy payouts6 $208,825

 

However, if Mr. Ang had continued with his PRUterm total refund policy without any claims made, upon the cover expiry of the policy, the refund on his total premiums paid1 would have been S$1,765 x 10 = S$17,650.

 

Footnotes:
1 The total premiums paid, without interest, will be refunded upon Death, Terminal Illness or Disability of the life assured; or the Cover Expiry Date of the policy, whichever event occurs first. If the policy is surrendered before Cover Expiry Date, policy will return a percentage of the total premiums paid without interest. In some situations, there may be no refund of total premiums paid. Please refer to the policy document for the exact terms and conditions.
5 Premium quoted is based on an annual basis for PRUterm total refund with sum assured of S$100,000, on a standard life, age 35 next birthday, male non-smoker. Total premiums paid-to-date is calculated based on the annual premium x 5 years ($1,765 x 5 = $8,825)
6 We will deduct any outstanding amounts owing to us in connection with this policy before paying any benefits.

Who can apply

  • For those between 17 and 50 years of age seeking the security of 20-years protection with 10-years premium payment terms.
  • A Term product available for cash funds with Regular Premium payment

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Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable may be less than the total premiums paid.

This is not a contract of insurance and reference should be made to the respective policies for the exact terms and conditions applicable to the insurance policy. Please refer to the exact terms, conditions, exclusions and specific details applicable to this insurance in the policy document that can be obtained from a Prudential Financial Consultant.

The information contained in this website is not required to be reviewed or endorsed by the Monetary Authority of Singapore.

Information correct as at 30 March 2011.