- Early Stage Disability is the first plan in Singapore to offer early assistance and protection, as a result of an illness or injury, when quality of life conditions such as walking, fine hand control, sitting and rising from a chair, lifting and carrying, communicating and eyesight are affected
- It supplements potential loss of income and offsets expenses incurred for recuperation
Singapore (14 February 2011)
Prudential Assurance Company Singapore (Pte) Limited (“Prudential Singapore”), one of Singapore’s leading life insurance companies achieves another first with the new Early Stage Disability which is the first insurance plan in Singapore that provides coverage against partial and temporary disablement based on one’s ability to carry out daily tasks.
Unforeseen twists in life may lead to the inability to perform the simplest tasks such as walking, seeing clearly, sitting and rising from a chair, communicating, lifting and carrying and removing tablets from a pack.* Prudential Singapore understands the physical and financial difficulties faced during this challenging time and is there to offer financial support to supplement the potential loss of income and extra expenses incurred to adapt to partial and temporary disability, such as some ongoing treatment and nursing expenses.
“We recognise that people who are partially or temporarily disabled experience frustration from the inability to perform some of the simplest tasks. Additionally, the financial burden of expenses incurred from having to adapt to disabilities and paying for ongoing medical treatment, may take a toll on a person’s determination to recover, especially if he or she feels like a burden to family members,” said Mr. Tomas Urbanec, Chief Marketing Officer of Prudential Singapore.
“Prudential continues to make major strides in innovation as we deliver more high-value products that protect customers financially and to offer them peace of mind. We innovate by finding gaps in the market and developing products not offered at the moment. Having a deep understanding of our customers’ financial concerns has allowed us to design and enhance our comprehensive suite of products for maximum protection. The Early Stage Disability plan is able to provide protection for various stages of disability ranging from partial and temporary to total and permanent disability. We hope to ease the financial burdens our customers may experience, thereby enabling them to focus on recovering from disability and returning to an active life,” he added.
Additionally, Early Stage Disability provides the assurance of coverage for disabilities due to an injury as a result of selected hazardous activities or National Service under Special Risk benefit1. According to a 2007 report by the Sports Safety Committee, a team appointed by the Ministry of Community Development, Youth and Sports (MCYS) to review sports safety practices in Singapore, more people are participating in sports and exercise, which means that the number of sports-related injuries may be expected to rise as well. Early Stage Disability protects against selected sports-related injuries including high-risk sports activities like scuba diving, rock climbing and skydiving .
Early Stage Disability can be bought as a standalone plan or as a supplementary benefit attached to any regular premium Prudential main plan. For greater peace of mind, it is also available as a supplementary benefit to protect children below the age of 15.
Early Stage Disability adds to Prudential’s comprehensive suite of Accident & Health products. In October last year, the company launched Early Stage Crisis Cover, an innovative product that protects against a wide range of 70 different medical conditions and early stages of critical illnesses. It is the first policy of its kind in the industry to offer coverage for selected diabetes related complications. Together with PRUShield surgical and hospitalisation cover, Prudential now has a complementary range of Accident & Health products that offers protection for early stage illnesses, critical illnesses and also multiple crisis cover.
Additional key benefits of Early Stage Disability at a glance1:
- Policyholder finds comfort in the 50% sum assured paid in a lump sum under Partial Payout benefit when one satisfies two out of six Quality of Life Conditions (QLC)
- Remaining 50% of sum assured will be paid when a third Quality of Life Conditions becomes a difficulty
- With the first lump sum payout of 50% of sum assured, future premiums on Early Stage Disability will be waived while enjoying the reassurance of continued disability coverage
- One of the plans available in the market to provide longer disability protection till aged 70 ensuring you stay protected for the longer term.
1Terms and conditions apply
About Prudential Assurance Company Singapore (Pte) Limited
Prudential Singapore is one of the top life insurance companies in Singapore and is a wholly owned subsidiary of UK-based Prudential plc. As one of the market leaders in investment-linked plans, Prudential Singapore has over S$7.7 billion funds managed under PRULink funds as at 30 June 2010. With the dedicated team of approximately 3,600 financial consultants and over 600 employees, Prudential Singapore has been serving the needs of more than 600,000 policyholders with over 1.3 million policies for almost 80 years in Singapore.
Prudential Singapore is the first life insurer in Singapore named Asia's Life Insurance Company of the Year in 2000. Prudential Singapore won Gold Award in Reader’s Digest Trusted Brands for three consecutive years from 2007 to 2009. Most recently, Prudential Singapore also won the May Day Model Partnership Award 2009.
For media enquiries, please contact:
Lorraine Lee Robert
Prudential Assurance Company Singapore
Tel: +65 6228 5033
Citigate Dewe Rogerson i.MAGE
Tel: +65 6530 7156