- Innovative new critical illness plan that continues to provide coverage for death and Terminal Illness even after a critical illness claim
- Plan rewards customers for staying healthy with total refund of premiums
- If critical illness strikes, premiums will be waived while coverage continues for Death and Terminal Illness
- In the event of Accidental Death, loved ones will receive a payout of three times the sum assured
Singapore, 16 October 2015 – Prudential Assurance Company Singapore (Pte) Limited (Prudential Singapore) launches PRUCover Total Refund, a critical illness plan which provides financial support at a time when one needs it most. If critical illness strikes, customers will be able to focus on improving their health and not on the financial burden that the illness may bring. The plan continues to provide coverage for death and Terminal Illness even after a critical illness claim and it is also designed to reward customers who stay healthy with a total refund of premiums.
Protects During Illness and Rewards in Good Health
PRUCover Total Refund is designed to provide much-needed security and peace of mind during times of crises. In the event of critical illness, the customer can focus on improving their health while being assured that they have the financial support to see them through the stressful time. The affected customer will receive a payout as well as waiver of future premiums, while also continuing to receive coverage for death and Terminal Illness. Customers will also be covered with an additional Special Benefit for Angioplasty and Other Invasive Treatments for Coronary Artery should there be no critical illness claim. In the event of Accidental Death, loved ones of the policyholder will receive a payout of three times the sum assured.
PRUCover Total Refund also rewards those for staying in good health. If customers do not have claims on the Critical Illness Benefit, they will receive a refund on the total premiums paid at the end of the policy term.
“PRUCover Total Refund is designed to provide peace of mind for our customers. We understand that during times of need such as when critical illness happens, our customers need to focus on getting better, and not be burdened with the added financial stress. This plan allows the affected customer to receive a payout as well as waiver of future premiums and it continues to provide coverage for death and Terminal Illness even after a critical illness claim has been made,” says Angela Hunter, Executive Vice President and Chief Marketing Officer, Prudential Singapore. “We also celebrate good health with PRUCover Total Refund as it rewards customers who do not have claims for Critical Illness Benefit by giving them a refund of the total premiums they’ve paid at the end of the policy term.”
Shorter Premium Terms to Ease Financial Burden
PRUCover Total Refund offers the choice to pay off the premiums within a shorter time frame so the customer can lessen his or her financial burden in the future. The choice of policy terms are 20 and 40 years while the choice of premium payment terms are 10 and 20 years, respectively.
Enhance the Coverage with Supplementary Benefits
For extra protection and security, customers can enhance their PRUCover Total Refund with supplementary benefits such as Early Stage Crisis Cover/Early Crisis Cover Limited Pay, Early Payer Security and Payer Security III/Payer Security Plus.
- Early Stage Crisis Cover/Early Crisis Cover Limited Pay
This provides coverage for as many as 74 different medical conditions, including early stage cancer (non-invasive stage), chronic kidney disease, dementia and Page 3 of 4 severe asthma. Customers will also receive additional coverage of up to 130% of the sum assured on Angioplasty and Other Invasive Treatments for Coronary Artery, selected diabetic complications and Juvenile Medical Condition. For Early Crisis Cover Limited Pay supplementary benefit, one can choose to pay the premiums with a shorter premium payment term.
- Early Payer Security
This waives the premium payments for a fixed period upon diagnosis of Early or Intermediate Stage Medical Conditions
- Payer Security III/Payer Security Plus
This safeguards the customer’s loved ones policy in the event that Death, Critical Illness or Total and Permanent Disability afflicts him/her. Payer Security III waives the remaining premiums of the customer’s child’s policy till the policy anniversary before he or she turns 25, or the end of the premium payment term, whichever is earlier. Payer Security Plus provides a longer benefit term and it waives the remaining premiums of the loved one’s policy until the policy anniversary before the customer reaches 85, or the end of the premium payment term, whichever is earlier.
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 have been serving the financial and protection needs of Singaporeans for 84 years. Our focus is to bring well-rounded financial solutions to customers through our multi-channel distribution network, with product offerings in Protection, Savings and Investment. We are one of the market leaders in Protection, Savings and Investment-linked plans with S$28.7 billion funds under management as at 30 June 2015. In 2014, we were awarded an AA Financial Strength Rating by leading credit rating agency Standard & Poor’s.
For the last 11 consecutive years, we have been awarded the Gold Award in Reader’s Digest Trusted Brands. Since 2007, we have been conferred the People Developer Award by SPRING Singapore for our efforts in training and developing employees and in 2013 and 2014, we were presented with Asia’s Employer of the Year Brand Award by the Branding Institute and the World HRD Congress. Prudential Singapore was also awarded the NTUC Plaque of Commendation (Gold) Award in 2014, and the Singapore Human Resource Institute presented the company with the Leading HR Practices in Quality Work-Life, Physical & Mental Well-Being Award in 2014 and the Leading HR Practices in Lifelong Learning Award in 2015.
For media enquiries, please contact:
Lorraine Lee Robert / Elizabeth Wong
Prudential Assurance Company Singapore
Tel: +65 6704 7033/ +65 6704 7039
Email: [email protected]
Catherine Ong Associates
Tel: +65 6327 6084
Email: [email protected]