Analyse your life needs in detail and plan ahead for a brighter tomorrow.
PRUflexicash
We understand your need for flexibility.
PRUflexicash is a savings plan that has been specially tailored to help you save for the future while giving you protection against death, disability and terminal illnesses. It also offers you financial flexibility with a Yearly Cashback1. You can decide when you want to receive your Yearly Cashback1 which entitles you the freedom to align the payouts to best suit your needs.
Benefits^
- Lump sum payment in the event of Death, Terminal Illness2 and Total and Permanent Disability2
- Flexible policy terms of 15, 20 or 25 years
- Get your cashbacks (Yearly Cashback1) starting from the end of the 2nd policy anniversary or after the end of the 10th policy anniversary. You can choose to:
- take the Yearly CashBack1 and use it as you wish
- use the Yearly CashBack1 to pay for your premiums
- plan the CashBack according to your needs
- reinvest the Yearly CashBack1 into the policy and enjoy higher interest
- Offers 2 options at maturity to collect maturity proceeds in
- one lump sum
- yearly installments over 3, 4, 10, 15 or 20 years depending on your needs. The outstanding balance will continue to earn interest at 3% per annum*
- Allows increase of coverage at life's major milestones without evidence of good health. Within 3 months of marriage, upon the birth of your child or the adoption of a child, you can choose to take up a new endowment or term plan.^^
Whichever policy term you choose, upon maturity you will receive in total 120% of the original amount you were insured for, plus all the bonuses (non-guaranteed) that were added to the plan every year.
- Choice of cashing in bonuses (non-guaranteed) accumulated
- Option to borrow up to 90% of policy's cash value**
- Interest-free loans to cover medical expenses resulting from a surgical operation+
- Add on these supplementary benefits for more comprehensive coverage
- Crisis Cover III provides you with a lump sum payment in the event that you are diagnosed with any one of 30 critical illnesses
- Crisis Waiver III pays for your premiums in the event that you are diagnosed with any one of the 30 critical illnesses
- Comprehensive Personal Accident III provides an additional lump sum payment in the event of accidental death and dismemberment
- reimburse your medical expenses incurred due to the accident and pays out a weekly income if you are unable to work because of the accident.
| ^ | Terms and conditions apply |
| 1 | Yearly Cashback starts after the 2nd policy anniversary |
| 2 | Policy provides coverage against Terminal Illness ("TI") and Total and Permanent Disability("TPD") during the term of the policy, and before the anniversary of the policy on which the Life Assured will attain the age of 65. The Life Assured cannot claim for both TI and TPD. |
| + | This loan is available at the discretion of the insurance product provider and may be granted upon satisfying required conditions. |
| * | The interest of 3% per annum is not guaranteed and is subject to change according to the prevailing market condition. |
| ^^ | Subject to the conversion terms and conditions, and availability at time of conversion. |
| ** | There is an annual interest rate on the loan amount, which is non-guaranteed and subject to change. |
How it works
Case Study 1: Education Fund
Mr Kee, aged 35 (male, non-smoker) wants to set aside $393 a month for the next 25 years for his son's [James, aged 1 (male, non-smoker)] university education.
He wants to receive at least $18,000 yearly over 4 years to fund James' university education when he reaches 21 years of age.
| End of Policy Year | Annual Premium* | Projected Amount receivable at end of each policy year |
||
| Projected amount receivable at maturity# | ||||
| Guaranteed | Non-Guaranteed | Total | ||
| 1 | $4,711 | - | - | - |
| 2 | $4,711 | - | - | - |
| 3 | $4,711 | - | - | - |
| . . . |
. . . |
. . . |
. . . |
. . . |
| 22 | $4,711 | $18,000 | - | $18,000 |
| 23 | $4,711 | $18,000 | - | $18,000 |
| 24 | $4,711 | $18,000 | - | $18,000 |
| 25 | $4,711 | $18,000 | $105,510 | $123,510 |
| Total | $117,765 | $72,000 | $105,510 | $177,510 |
| * | Premiums quoted are based on a non-smoker male aged 1 on his next birthday with a PRUflexicash (25 years) with sum assured of $60,000. |
Case Study 2: Retirement Income
Mr Tan, aged 45 (male, non-smoker) hopes to start planning for his retirement by setting aside $563 a month for the next 25 years. After 20 years when Mr Tan reaches age 65, he wants to get a part time job and start receiving his yearly cashback over the remaining 5 years. The lump sum will then be paid out over 10 years in instalments as his retirement income.
| End of Policy Year | Annual Premium* | Projected Amount receivable at end of each policy year |
||
| Projected amount receivable at maturity # | ||||
| Guaranteed | Non-Guaranteed | Total | ||
| 20 | $6,758 | $16,000 | - | $16,000 |
| 21 | $6,758 | $16,000 | - | $16,000 |
| 22 | $6,758 | $16,000 | - | $16,000 |
| 23 | $6,758 | $16,000 | - | $16,000 |
| 24 | $6,758 | $16,000 | - | $16,000 |
| 25 | $6,758 | $16,000 | $137,593 | $153,593 |
| Total | $168,512 | $96,000 | $137,593 | $233,593 |
| * | Premiums quoted are based on a non-smoker male aged 45 on his next birthday with a PRUflexicash (25 years) with sum assured of $80,000. |
At maturity, Mr Tan continues his maturity instalment option over 10 years using his last yearly cashback of $16,000 + the Non-Guaranteed Maturity Benefit of $137,593.
| Instalment Option - 10 years | |||
| Year | Guaranteed | Non-Guaranteed | Total |
| 1 | $1,600 | $13,759 | $15,359 |
| 2 | $1,600 | $14,220 | $15,820 |
| 3 | $1,600 | $14,695 | $16,295 |
| 4 | $1,600 | $15,184 | $16,784 |
| 5 | $1,600 | $15,687 | $17,287 |
| 6 | $1,600 | $16,206 | $17,806 |
| 7 | $1,600 | $16,740 | $18,340 |
| 8 | $1,600 | $17,290 | $18,890 |
| 9 | $1,600 | $17,857 | $19,457 |
| 10 | $1,600 | $18,440 | $20,040 |
Over 10 years, Mr Tan has collected up to a total returns (Guaranteed and Non-Guaranteed) of $176,078.
Case Study 3: General Savings Plan
Ben, aged 25, (male, non-smoker) aims to start a general savings plan by putting aside $1,407 a month for 15 years with access to his cash yearly of at least $6,000 starting from the end of the second policy year for his personal expenses and a lump sum upon maturity when he reaches age 40.
| End of Policy Year | Annual Premium* | Projected Amount receivable at end of each policy year | ||
| Projected amount receivable at maturity# | ||||
| Guaranteed | Non-Guaranteed | Total | ||
| 1 | $12,568 | - | - | - |
| 2 | $12,568 | $6,000 | - | $6,000 |
| 3 | $12,568 | $6,000 | - | $6,000 |
| 4 | $12,568 | $6,000 | - | $6,000 |
| 5 | $12,568 | $6,000 | - | $6,000 |
| 6 | $12,568 | $6,000 | - | $6,000 |
| 7 | $12,568 | $6,000 | - | $6,000 |
| 8 | $12,568 | $6,000 | - | $6,000 |
| 9 | $12,568 | $6,000 | - | $6,000 |
| 10 | $12,568 | $6,000 | - | $6,000 |
| 11 | $12,568 | $6,000 | - | $6,000 |
| 12 | $12,568 | $6,000 | - | $6,000 |
| 13 | $12,568 | $6,000 | - | $6,000 |
| 14 | $12,568 | $6,000 | - | $6,000 |
| 15 | $12,568 | $66,000 | $72,509 | $138,509 |
| Total | $188,514 | $144,000 | $72,509 | $216,509 |
| * | Premium quoted are based on, a male PRUflexicash (15 years) policyholder, non-smoker and aged 25 next birthday with a sum assured of $120,000. |
| # | The illustrated values use bonus rate assuming a projected investment rate of return of 5.25% p.a.. As the bonus rates are not guaranteed, the actual benefits payable will vary according to the future performance of the Participating Fund. |
| 1 | Yearly Cashback starts after the 2nd policy anniversary |
Who can apply
- For those between 1 and 60 years of age seeking a long-term savings plan with relatively higher liquidity than other insurance products due to the liquid nature of Yearly Cashbacks1
- Recommended for those who want easy access to regular funds while enjoying insurance protection
- An Endowment product available for Cash funds with Regular Premium payment
| 1 | Yearly Cashback starts after the 2nd policy anniversary |
Download Brochure
Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high cost 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.
