Analyse your life needs in detail and plan ahead for a brighter tomorrow.
PRUUniversal Vantage Zenith & PRUUniversal Vantage Optimum
Your gift of love. Your legacy of protection.
To give your family the best that life has to offer, the PRUUniversal Vantage Portfolio, which consists of PRUUniversal Vantage Zenith & PRUUniversal Vantage Optimum, is designed to help build your wealth and ensure that your loved ones will be well protected.
Two plans to choose from:
PRUUniversal Vantage Zenith - a single premium, whole-of-life1 insurance policy which gives you the protection and may help to accumulate your wealth with potential returns from Accumulated Value2.
PRUUniversal Vantage Optimum - a single premium, whole-of-life1 insurance policy which provides you with the high coverage. PRUUniversal Vantage Optimum may be suitable for you if you do not require the Accumulated Value2 to potentially be equal to the Sum Assured when you turn 100 years old.
Terms and Conditions apply
|1||If the Accumulated Value is reduced to zero and you have not attached the No-Lapse Guarantee Benefit or the No-Lapse Guarantee Benefit has terminated without any reinstatement whatsoever, the policy will lapse. Once the policy lapsed, no reinstatement of the policy is allowed.|
|2||When you pay us your premium, we will deduct the policy premium charge before placing it into an account, where the "Accumulated Value" is computed. We will apply the applicable Crediting Rates and deduct relevant charges from this account. The Accumulated Value of PRUUniversal Vantage Optimum will start to decrease at some point during the policy term such that it is projected to reduce to zero at the life assured's age of 100. The Accumulated Value of PRUUniversal Vantage Zenith is projected to be the Sum Assured at the life assured's age of 100.|
|3||The Crediting Rates include New Money Crediting Rate, General Crediting Rate, Minimum Guaranteed Crediting Rate and Bonus Crediting Rate (If applicable).|
|4||The Minimum Guaranteed Crediting Rate is non-guaranteed and is subject to review from time to time. However, once the policy or top-up is effected based on the applicable Minimum Guaranteed Crediting Rate at that point in time, it will be guaranteed and will apply throughout the policy term.|
|5||You can do a lump sum top-up into your Accumulated Value. Every top-up is subject to a top-up charge and will earn interest based on the applicable New Money Crediting Rate, General Crediting Rate and Minimum Guaranteed Crediting Rate at the time of the top-up. Making a top-up does not increase the Sum Assured, but it increases your Accumulated Value. We will not allow any top-ups if there are outstanding premiums due at that time of application. If you withdraw from the top-up within 15 years from the time you made the top-up, then it is subject to a top-up withdrawal charge.|
|6||You can apply for full or partial surrender from your Accumulated Value. Surrender charges apply within the first 15 policy years. Additionally, your Sum Assured and Accumulated Value will be correspondingly reduced by the partial surrender amount and any charges incurred. Should the remaining Accumulated Value and/ or Sum Assured fall below the minimum amounts, we will treat it as a full surrender. Any partial surrender will terminate your No-Lapse Guaranteed Benefit (if any). If you have made a top-up previously, you cannot apply to partial surrender your policy. However, you can choose to withdraw from your top-up balance.|
|7||The Death Benefit or Accelerated Terminal Illness benefit amount shall be payable to you after deducting all outstanding amounts owning to us in connection with your policy. If we paid your Accelerated Terminal Illness benefit and it is lower than the Death Benefit, your Accelerated Terminal Illness Benefit terminates and the Sum Assured of the Death Benefit shall be reduced to an amount equal to the difference between the Sum Assured of the Death Benefit and the Sum Assured under the Accelerated Terminal Illness Benefit.|
|8||The optional No-Lapse Guarantee Benefit (for as long it is not terminated) guarantees that we will pay the Sum Assured, even if there is no Accumulated Value, upon a death or Terminal Illness claim any time during the term of the policy and before the life assured attains 90 years of age. We will apply a different Policy Premium Charge and Policy Expense Charge if and when this benefit is added to your policy. The optional No-Lapse Guarantee Benefit will automatically terminate upon certain conditions.|
|9||Subject to the conditions set out in the policy document, you can choose to change the life assured only once during the term of your policy, on any policy anniversary and only in the event that the Accumulated Value (less any lump sum top-up, after deducting any top-up withdrawals and crediting any interest earned on any lump sum top-up) is equal or greater than a value determined by us at out discretion. Otherwise, an additional lump sum premium (subject to a charge) is required to make up the difference before the change of life assured can be effected. The cover on the Former Life Assured terminates and the cover on the New Life Assured will commence. A one-time charge will be payable if the revised Policy Expense Charge based on the New Life Assured is higher than that based on the Former Life Assured. The optional No-Lapse Guarantee Benefit will be terminated once the change of life assured is effected.|
|10||All premiums and benefits are payable in US Dollars. We do not bear the loss resulting from any currency conversion or the cost of charges incurred on any transaction pertaining to currency conversions.|
|11||The New Money Crediting Rate and General Crediting Rate will never be lower than the "Minimum Guaranteed Crediting Rate".|
|12||The "New Money Crediting Rate" is the interest rate applicable to the Accumulated Value for new monies (means the first year's premium or the lump sum top-up deposited into your account) during the New Money Crediting Rate Guarantee Period only.|
|13||After the New Money Crediting Rate Guarantee Period, and/ or premiums that are not new monies, we will apply another interest rate which is called the "General Crediting Rate" (GCR). This interest rate is subject to review from time to time. In the event that the GCR is adjusted following such review, the new applicable rate shall apply until the next adjustment. The GCR is determined based on investment-related factors such as actual investment returns, prevailing market interest rates, future outlook of investment returns and the Minimum Guaranteed Crediting Rate. The GCR may be smoothed to avoid sharp fluctuations from year to year.|
|14||From the start of the 7th Policy Year onwards and throughout the rest of the policy term, we will apply the "Bonus Crediting Rate" (BCR) to the Accumulated Value on a daily basis, provided that the General Crediting Rate (GCR) declared is higher than the Minimum Guaranteed Crediting Rate. The payment of the BCR will only be credited to the Accumulated Value on a monthly basis. It is payable in addition to the GCR then in use. The BCR will be reflected in the quarterly statements or in any other communication(s) that we send to you, as we in our sole discretion deem appropriate. It is not guaranteed and is subject to review from time to time. The BCR is determined based on investment-related factors such as actual investment returns, prevailing market interest rates, future outlook of investment returns and the Minimum Guaranteed Credit Rating. The BCR will not be applicable to top-ups.|
|15||We reserve the right to vary the rates and charges (where applicable) but will give you 30 days written notice before doing so.|
|16||An interest rate will be charged on the policy loan amount. If the total outstanding amount (including but not limited to monies from a policy loan) owning to us under your policy exceeds 90% of the Surrender Value, we reserve the right to terminate your policy and the No-Lapse Guarantee Benefit (if any).|
|17||We will impose a one-time charge and bill to the account when you reduce your Sum Assured within the first 15 years from the cover start date of your policy.|
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 website is for reference only and not a contract of insurance.
Please refer to the exact terms and conditions, specific details and exclusions applicable to this insurance in the policy document that can be obtained from your Prudential Financial Consultant. You are recommended to seek advice from a qualified Prudential Financial Consultant for a financial analysis before purchasing a policy suitable to meet your needs.
The information contained in this website is not required to be reviewed or endorsed by the Monetary Authority of Singapore.
Information is correct as at 7 February 2012.