Analyse your life needs in detail and plan ahead for a brighter tomorrow.
PRUsave
We understand you want to save and be covered for your life ahead.
Life is unpredictable. Along with important milestones like getting married, buying a home, providing for your child's education or creating a retirement nest egg, will come sudden bursts of sunshine and showers of rain. That's why, we've designed a single policy that gives you the ability to plan ahead financially while being covered for the unforeseen.
Benefits^
- Flexible policy terms of 10 to 45 years
- Lump sum payment in the event of Death, Terminal Illness1 and Total and Permanent Disability1
- 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+
- Acquires surrender value
- 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.^^
- Offer 2 option at maturity to collect maturity proceeds
- in one lump sum
- in yearly instalments of 3, 4, 10, 15 or 20 years depending on your needs. The outstanding balance will continue to earn interest at 3% per annum*.
- Adds 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 cannot go to work because of the accident.
| ^ | Terms and conditions apply |
| 1 | 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. |
| ** | There is an annual interest rate on the loan amount, which is non-guaranteed and subject to change. |
| + | 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. |
How It Works
Case Study 1: Juvenile
Mr Lim, aged 35 (male, non-smoker) wants to set aside $342 a month for the next 20 years for his son, Kevin's, aged 1 (male, non-smoker) university education. He wants to receive at least $70,000 upon maturity, the current total fee needed for a local degree, in instalments over 4 years.
| Policy Term (Years) | Annual Premium* (Payable for 20 years) | Projected Amount Receivable at Maturity# | ||
| Guaranteed | Non-Guaranteed | Total | ||
| 20 | $4,108 | $70,000 | $55,564 | $125,564 |
| Instalment Option - 4 Years | |||
| Year | Guaranteed | Non-Guaranteed | Total |
| 1 | $17,500 | $13,891 | $31,391 |
| 2 | $17,500 | $14,833 | $32,333 |
| 3 | $17,500 | $15,803 | $33,303 |
| 4 | $17,500 | $16,802 | $34,302 |
At the end of 20 years, the total maturity benefit of $125,564 will sit in an account that earns interest of 3% p.a. @. Mr Lim will receive an instalment payout that increases each year during the instalment period due to the interest earned.
| * | Premiums quoted are based on a non-smoking male aged 1 on his next birthday with PRUsave, with a sum assured of $70,000. |
| @ | Interest earned on maturity instalments are assumed at a non-guaranteed rate of 3% p.a. |
| # | 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. |
Case Study 2: Retirement Income
Mr Goh, aged 45 (male, non-smoker) hopes to retire comfortably by setting aside $502 a month for the next 20 years. After 20 years when Mr Goh reaches age 65, he wants to receive his maturity amount in instalments over 10 years.
| Policy Term (Years) | Annual Premium* | Projected Amount Receivable at Maturity# | ||
| Guaranteed | Non-Guaranteed | Total | ||
| 20 | $6,026 | $100,000 | $79,377 | $179,377 |
| Instalment Option - 10 Years | |||
| Year | Guaranteed | Non-Guaranteed | Total |
| 1 | $10,000 | $7,938 | $17,938 |
| 2 | $10,000 | $8,476 | $18,476 |
| 3 | $10,000 | $9,030 | $19,030 |
| 4 | $10,000 | $9,601 | $19,601 |
| 5 | $10,000 | $10,189 | $20,189 |
| 6 | $10,000 | $10,795 | $20,795 |
| 7 | $10,000 | $11,419 | $21,419 |
| 8 | $10,000 | $12,061 | $22,061 |
| 9 | $10,000 | $12,723 | $22,723 |
| 10 | $10,000 | $13,405 | $23,405 |
At the end of 20 years, the total maturity benefit of $179,377 will sit in an account that earns interest of 3% p.a. @. Mr Goh will receive an instalment payout that increases each year during the instalment period due to the interest earned.
| * | Premiums quoted are based on a non-smoking male aged 45 on his next birthday with policy maturing at 65. |
| @ | Interest earned on maturity instalments are assumed at a non-guaranteed rate of 3% p.a. |
| # | 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. |
Who can apply
- For those between 1 and 70 years of age who are seeking potentially high returns for your savings
- Available for Cash funds with Regular Premium payment
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.
