PRUsave limited pay

We understand you want to save for the long term, but with a shorter premium term

PRUsave limited pay is a regular premium endowment plan designed to help you save for the long term, but gives you the option of paying off your premiums within a shorter period. You can be assured knowing your savings goals are not compromised.

Benefits

  • Look forward to receiving your maturity benefit in one lump sum payout once your PRUsave limited pay policy matures.
  • Receive 100% of the sum assured plus any accumulated bonuses1 in a lump sum should Death, Terminal Illness, or Total and Permanent Disability2 strike you.
  • Should your needs change as you get married, become a parent, or adopt a child, you can buy another endowment or term plan3 without undergoing another medical examination.
  • As an insurance savings plan for your child’s education funds, PRUsave limited pay allows your child to buy a new policy4 at the policy maturity, if he is below 25 years of age, without the need for any medical examination.
  • Add on these supplementary benefits for more comprehensive coverage 
    • Max Protection Multiplier5 provides a sum assured of 5 times or 10 times of the annual premium of your main endowment plan, up to S$300,000.
    • Early Stage Crisis Waiver, which waives the premium payments for a fixed period6 upon diagnosis of early or intermediate stage medical conditions, so you can concentrate on your treatment.
    • Crisis Waiver III, which waives the remaining premium payments7 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 period6 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 limited pay works – if you’re a parent of a child...

Madam Lim (age 35 on her next birthday, non-smoker) is a mother who wants to plan for her son’s (age 1 on next birthday) university education. She is able to set aside an annual premium of S$6,1988 for 10 years, so that she can receive a lump sum payout at the end of 20 years upon maturity of the policy.

Policy Term (Years) Annual Premium (Payable for 10 years) Projected Amount Receivable at Maturity
Guaranteed Non-Guaranteed9 Total9
20 S$6,198 (S$17 a day)10 S$65,000 S$43,387 S$108,387

 At the end of 20 years, the total projected maturity benefit is S$108,3879.

And for as little as S$0.5410,11 a day, Madam Lim can add Payer Security III to her PRUsave limited pay policy that ensures her son’s education plan will not be jeopardised in the event of her Death, Critical Illness, or Total and Permanent Disability.


How PRUsave limited pay works - if you're in your first job...

Harry (age 25 on his next birthday, non-smoker) is a fresh graduate who has just started his career, and would like to save enough for his dream car down payment by the time he reaches 35. He is able to set aside an annual premium of S$6,06312 for 5 years, so that he can receive the maturity proceeds in a lump sum to finance his dream car.

Policy Term (Years) Annual Premium (Payable for 5 years) Projected Amount Receivable at Maturity
Guaranteed Non-Guaranteed9 Total9
10 S$6,063 ($17 a day)10 S$28,000 S$8,163 S$36,163

 At the end of 10 years, the total projected maturity benefit is S$36,1639.

 

How PRUsave limited pay works - if your're saving for retirement...

Mr. Tan (age 45 on his next birthday, non-smoker) is planning for his retirement when he reaches 60. He is able to set aside an annual premium of S$12,32213 for the next 5 years, wishes to have a policy term of 15 years and plans to receive his maturity payout in one lump sum.

Policy Term (Years) Annual Premium (Payable for 5 years) Projected Amount Receivable at Maturity
Guaranteed Non-Guaranteed9 Total9
15 S$12,322 (S$34 a day)10 S$63,500 S$30,477 S$93,977

 At the end of 15 years, the total projected maturity benefit is S$93,9779.

And for as little as S$0.5610,14 a day, Mr. Tan can add Crisis Waiver III to his PRUsave limited pay policy that ensures his retirement plan will not be jeopardised, should he be diagnosed with any of the 35 listed Critical Illnesses.

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* Footnotes:
1 Bonuses are not guaranteed and will vary according to the future performance of the participating fund.
2 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 pay for either Terminal Illness or Total and Permanent Disability benefit, but not both.
3 This benefit is only applicable to PRUsave limited pay policy 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 the 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 This benefit is only applicable to PRUsave limited pay 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 PRUsave limited pay policy increased at a compounded rate of 5% for each year the customer held the PRUsave limited pay policy. However, the maximum sum assured is limited to S$300,000 per life.
5 Subject to terms and conditions, Max Protection Multiplier pays out in the event of Death, Accidental Death or Total and Permanent Disability.
6 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.
7 Future premiums of the covered benefits are waived up to age 85 or until the end of the premium payment term, whichever is earlier.
8 Premium quoted is based on a non-smoking male, age 1 next birthday, with a PRUsave limited pay plan (10/20 year payment term) with a sum assured of S$65,000.
9 The illustrated values use a bonus rate assuming a projected investment rate of return of 4.75% per annum for the participating fund. Bonus rates are not guaranteed and will vary according to the future performance of the participating fund.
10 The premium stated is an approximate figure and is rounded to the nearest cent.
11 Premium quoted is based on a non-smoking female, age 35 next birthday, with an annual premium of S$6,198 and a premium payment term of 10 years.
12 Premium quoted is based on a non-smoking male, age 25 next birthday, with a PRUsave limited pay plan (5/10 year payment term) with a sum assured of S$28,000.
13 Premium quoted is based on a non-smoking male, age 45 next birthday, with PRUsave limited pay plan (5/15 year payment term) with a sum assured of S$63,500.
14 Premium quoted is based on a non-smoking male, age 45 next birthday, with an annual premium of S$12,322 and a premium payment term of 5 years.

 

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.