PRUsave

We understand you want to save and protect your life goals against uncertainties

Saving for the future is the first step towards achieving your dreams. Whatever your commitments may be, whether it’s seeing your child through university, buying a new home or enjoying retirement, you can attain your important milestones with a plan that helps you save while being covered against the unforeseen at the same time.

PRUsave, a regular premium endowment plan, offers you both the benefits of disciplined savings and protection in a single plan. Designed to offer you a choice of different policy terms that best suit your life’s changing needs, you can now be assured that even while you save, you and your loved ones are protected against the unforeseen.

Benefits

  • Flexible policy terms of 10 to 45 years
  • Covers against Death, Terminal Illness1 and Total and Permanent Disability1
  • Option for your child to buy a new policy2 at the maturity of the PRUsave policy, if he is below 25 years of age, without the need for any medical examination.
  • Allows increase of coverage at life's major milestones such as getting married, becoming a parent or adopting a child through legal means. You can choose to take up a new endowment or term plan3 without the need for any medical examination.
  • Add on these supplementary benefits for a more comprehensive coverage 
    • Early Stage Crisis Waiver, which waives the premium payments for a fixed period4 upon diagnosis of early or intermediate stage medical conditions, so you can concentrate on your treatment.
    • Crisis Waiver III, which waives the remaining premium payments5 upon diagnosis of any one of the 35 listed Critical Illnesses and ensures that your financial plan remains in place.
    • Early Payer Security, which waives the premium payments for a fixed period4 upon diagnosis of Early or Intermediate Stage Medical Conditions, so that you need not worry about your loved ones losing coverage while you concentrate on your treatment.
    • Payer Security III / Payer Security Plus safeguards your loved one’s policy in the event that Death, Critical Illness or Total and Permanent Disability strikes you.

 

How It Works

How PRUsave works:

Example 1:

Mr Lim (male, non-smoker), age 35 next birthday, wants to start saving for the university education for his son, Kevin (male, non-smoker), age 1 next birthday. He is able to set aside S$4,1086 per annum for the next 20 years. At the end of 20 years, his total projected maturity payout amount will be S$117,1037.

 

Policy Term (Years) Annual Premium6
(Payable for 20 years)
Projected Amount Receivable at Maturity
Guaranteed Non-Guaranteed7 Total7
20 $4,108 $70,000 $47,103 $117,103

 

Example 2:

Mr Goh (male, non-smoker), age 45 next birthday, hopes to retire by age 65. He is able to set aside S$6,0268 yearly for the next 20 years. At the end of 20 years, Mr Goh looks to receive a projected maturity benefit of S$167,2907. Here’s how PRUsave may help Mr Goh to prepare for his retirement.

 

Policy Term (Years) Annual Premium8
(Payable for 20 years)
Projected Amount Receivable at Maturity
Guaranteed Non-Guaranteed7 Total7
20 $6,026 $100,000 $67,290 $167,290

 

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Footnotes:
1 Policy provides coverage against Terminal Illness and Total and Permanent Disability during the term of the policy and before the anniversary of the policy on which the Life Assured will attain the age of 65. We will either pay for Terminal Illness or Total and Permanent Disability, but not both.
2 This benefit is only applicable to PRUsave policy purchased on your child on standard terms. The sum assured for the new policy can be up to the amount equal to the sum assured of the Death Benefit in the PRUsave policy increased at a compounded rate of 5% for each year the customer held the PRUsave policy. However, the maximum sum assured is limited to S$300,000 per life.
3 This benefit is only applicable to PRUsave purchased on standard terms. The sum assured for the new policy at each life event cannot be more than 25% of the original sum assured or S$150,000, whichever is lower. The option to purchase a new policy can only be exercised twice in a lifetime of the Life Assured. The maximum additional cover for these two life events can only be up to 50% of the original sum assured or S$300,000, whichever is lower.
4 Upon diagnosis of Early or Intermediate Stage Medical Conditions, the future premiums of the covered benefits will be waived for 5 years or 10 years respectively, or the remaining premium payment term, whichever is shorter. The maximum premium waiver period is 10 years, after which the benefit terminates and premium payment for the covered benefits resumes.
5 Future premiums of the covered benefits are waived up to age 85 or until the end of the premium payment term, whichever is earlier.
6 Premium quoted is based on a non-smoking male, age 1 next birthday with PRUsave (policy term of 20 years) with a sum assured of S$70,000.
7 The illustrated values use bonus rates assuming a projected investment rate of return of 4.75% per annum for the participating funds. Bonus rates are not guaranteed and will vary according to the future performance of the participating fund.
8 Premium quoted is based on a non-smoking male, age 45 next birthday with PRUsave (policy term of 20 years) with a sum assured of S$100,000.


 

Note:

You are recommended to read the product summary and seek advice from a qualified Prudential Financial Consultant for a financial analysis before purchasing a policy suitable to meet your needs.

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 (if any) may be less than the total premiums paid.

Buying health insurance products that are not suitable for you may impact your ability to finance your future healthcare needs. Premiums for the supplementary benefits are not guaranteed and may be adjusted based on future claims experience.

This website is for reference only and is not a contract of insurance. Please refer to the exact terms and conditions, specific details and exclusions applicable to these insurance products in the policy documents that can be obtained from your Prudential Financial Consultant.

The information contained on this website is intended to be valid in Singapore and shall not be construed as an offer to sell or solicitation to buy or provision of any insurance product outside Singapore. In case of discrepancy between the English and Mandarin versions of the e-brochure, the English version shall prevail.

Information is correct as at 5 October 2016.