PRUsave privilege accelerator

We understand you want the assurance that you can reach your savings goal

Financial security can bring you peace of mind. Whatever your financial goals, you may need a plan that helps you grow your savings. The PRUsave privilege accelerator is a 10 year endowment policy where you only make premium payments for the first 3 years. This helps secure your savings while you are able and eases your financial commitments in the later years.

Benefits

  • Receive your maturity benefit1 in one lump sum.
  • Death benefit1 from PRUsave privilege is the lower of:
    • 105% of the total premiums paid that are added to PRUsave privilege at the time of death; or
    • the Face Value3
    plus all bonuses4 that we have added to your policy.  In the event that the total premiums paid to PRUsave privilege at the time of death is higher than the total amount calculated above, we will pay the total premiums paid to PRUsave privilege , inclusive of any yearly Premium Credit provided by Premium Accelerator. Death benefit1 for Premium Accelerator is 105% of the total premiums paid to Premium Accelerator.
  • Enjoy potential returns with just a 3 year premium payment with PRUsave privilege accelerator.
  • Receive a one-time cash reward on the fourth Policy Anniversary2 (1.25% of the total premiums paid into Premium Accelerator). 
  • Simple and hassle free application. No medical check ups or answering questions about your health are required.

How it works

How PRUsave privilege accelerator works

A packaged plan comprising PRUsave privilege and Premium Accelerator, PRUsave privilege accelerator is a fixed 10-year term policy with premium payments only for the first 3 years. This allows you to save for the future as you pay off your premiums early while your propensity to earn is still strong.

The diagram below illustrates your policy’s premium payment and the maturity benefit expected at the end of the 10-year period.

PRUsave Privilege Accelerator

Peace of Mind Should Anything Happen

PRUsave privilege accelerator offers protection against death1 provided through PRUsave privilege (during the policy term) and Premium Accelerator (before the fourth Policy Anniversary2). You can be assured that as you save, your family’s future is secure if anything should happen to you.

The death benefit1 from PRUsave privilege will be the lower of:

  • 105% of the total premiums paid that are added to PRUsave privilege at the time of death, or
  • Face Value3

plus Bonuses4 that are added.

You are assured that if the total premiums paid to PRUsave privilege at the time of death is higher than the total amount calculated above, we will pay1 the total premiums paid to PRUsave privilege inclusive of any yearly Premium Credit provided by Premium Accelerator.

The death benefit1 from Premium Accelerator is 105% of the total premiums paid to Premium Accelerator, less the total Yearly Premium Credit added to PRUsave privilege (if any). The Premium Accelerator will cease after it has provided for the fifth year premium for PRUsave privilege and the Cash Reward has been paid out (i.e. at the fourth Policy Anniversary2).

Lump Sum Maturity Benefit

With PRUsave privilege accelerator, you can look forward to receiving your maturity benefit1 in one lump sum. The maturity benefit is the Face Value3 plus Bonuses4 (i.e. Reversionary, Performance and Maturity Bonuses) that are added.

Example

Mr. Tan (aged 35 on his next birthday, non-smoker) would like to start saving to prepare for important milestones in life such as saving for his retirement planning. He would like to set aside approximately $50,000 per annum for 3 consecutive years, so that he can receive the maturity proceeds for his retirement planning.

PRUsave Privilege Accelerator

3-year Commitment That Rewards

You can now enjoy potential returns with just a 3-year premium payment with PRUsave privilege accelerator.

Our Premium Accelerator has a Yearly Premium Credit feature that automatically pays for your premiums for PRUsave privilege in the fourth and fifth year of your policy. Therefore, you are relieved from continuing to pay premiums throughout your policy term, hence easing your financial commitments to enjoy other pursuits. What’s more, you will also receive a one-time cash reward (1.25% of the total premiums paid into Premium Accelerator) on the fourth Policy Anniversary2.

Hassle-free Application

Application for PRUsave privilege accelerator is simple and hassle-free. No medical check-ups or answering questions about your health is required. Simply submit your application and you are on your way to financial peace of mind.

Download Brochure

Footnotes:
1 Any death benefit/maturity payment will less any outstanding amounts owed to us in connection with the policy.
2 “Policy Anniversary” is the anniversary of the first premium due date of the policy. The first premium due date is shown on the Certificate of Life Assurance.
3 Face Value is a notional value used to determine the Reversionary Bonuses (non-guaranteed), the Maturity Benefit and the Death Benefit. It is not the sum assured of the policy.
4 Bonuses are not guaranteed and will vary according to the future performance of the participating fund, which PruSave Privilege is written out of.
5 The illustrated values use bonus rates assuming a projected investment rate of 4.75% p.a. for the participating fund. Bonus rates are not guaranteed and will vary according to the future performance of the participating fund.

 

Note:

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.

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 on 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 this insurance product 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 only 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-Brochures, the English version shall prevail.

Information is correct as at 27 May 2016.