- New PRUCrisis Cover Vantage to supplement PRUVantage suite of Wealth Management Products
- A first of its kind critical illness protection of up to S$3.6 million - highest level of coverage in the market
- Offers payout of up to S$500,000 for the diagnosis of an Early Stage Medical Condition
Singapore, July 19, 2012 - Prudential Assurance Company Singapore (Pte) Limited (“Prudential Singapore”), one of Singapore’s leading life insurers and market leader in critical illness protection, launches PRUCrisis Cover Vantage, the company’s first critical illness product specially designed for affluent individuals. With a high sum assured of half a million dollars to start with, this new insurance plan adds to the PRUVantage Portfolio suite of wealth management products with a maximum payout of up to $3.6 million upon diagnosis of Critical Illness, the highest level of coverage in the market.
Individuals who have worked hard to achieve the success they have today should be able to enjoy the assurance of being able to recuperate with first class medical treatments and highest standard of care if critical illness strikes. That is why Prudential Singapore developed the PRUCrisis Cover Vantage with the assurance of higher coverage right from the onset of critical illness. This is the only plan of its kind in Singapore that offers a payout of up to $500,000 for the diagnosis of an Early Stage Medical Condition and up to $250,000 for selected diabetic complications.
“Prudential is a market leader in critical illness protection and we are proud to launch a first of its kind protection for our customers, especially during a time where medical costs are escalating. PRUCrisis Cover Vantage is an extension of the PRUVantage Portfolio suite of wealth management products catered specifically to address the special needs of affluent and successful individuals. Besides wealth preservation, it is equally important that affluent individuals are assured of access to first class medical treatments in the event of an unexpected illness”, said Mr. Tomas Urbanec, Executive VP and Chief Marketing & Partnerships Distribution Officer of Prudential Singapore.
In the event of an accident or mishap, the policy has an Accidental Death benefit of 100% sum assured coverage or $1 million, whichever is the lower, to give the victim’s family added assurance that they will be taken care of. In the event of death, the payout is 10% of the sum assured or $100,000, whichever is lower.
“As individuals accumulate more wealth, they should safeguard against the loss of their assets from hefty medical bills or death so that they can continue to provide for the needs of their families without compromising on the lifestyle that their loved ones are used to”, Mr Urbanec added.
>PRUCrisis Cover Vantage can be bought as a standalone plan or added to an existing PRUTerm Vantage plan for protection of Critical Illness till 85 years, ensuring comprehensive coverage, and greater peace of mind.
Key highlights of PRUCrisis Cover Vantage at a glance:
- Higher coverage
- High coverage limit of up to $3.6 million
- Up to $500,000 right from the diagnosis of a selected Early Stage Medical Condition
- Up to $1 million for selected Intermediate Stage Medical Condition
- Diabetic Complications
- First of its kind to make payouts for selected Diabetic Complications of up to $250,000
- Angioplasty and other Invasive Treatment for Coronary Artery
- One-time claim of S$25,000 for Angioplasty and other Invasive Treatments of the Coronary Artery
- Accidental Death benefit
- 100% sum assured coverage or $1 million, whichever is lower in the event of an accident
- Death Benefits (Not applicable to Crisis Cover Vantage)
- 10% of the sum assured or $100,000, whichever is lower in the event of death
ABOUT Prudential Assurance Company Singapore (Pte) Limited (Prudential Singapore)
Prudential Singapore, an indirect wholly-owned subsidiary of UK-based Prudential plc, is one of the top life insurance companies in Singapore. We are one of the market leaders in investment-linked plans with over S$7.38 billion funds managed under PRULink funds as at 31 December 2011. With a rich history that has spanned more than 80 years, Prudential Singapore now has a dedicated team of approximately 3,100 financial consultants and over 700 employees. We are committed to serving the needs of more than 680,000 policyholders with over 1.6 million policies.
Prudential Singapore is the first life insurer in Singapore to be named Asia's Life Insurance Company of the Year in 2000. We were also presented with the Gold Award in Reader’s Digest Trusted Brands for five consecutive years from 2007 to 2011 and the May Day Model Partnership Award in 2009. In 2010, we emerged as one of the top insurers in Singapore in the Customer Satisfaction Index, which is a national barometer that tracks 104 companies from eight sectors.
For media enquiries, please contact:
Lorraine Lee Robert
Prudential Assurance Company Singapore
Tel: +65 6228 5033