PRUGolden Retirement Premier
You are never too old to set another goal or dream a new dream with PRUGolden Retirement Premier. With just one payment, you can start looking forward to more financial security in your retirement.
PRUGolden Retirement Premier, a single premium payment term plan, provides a regular monthly income1 after your selected retirement age. With peace of mind from a steady income, you can focus on enjoying your golden years with those who matter most.
Highlights
Choice of 10, 15 or 20 years.
From selected retirement age of 55, 60, 65 or 70
Death and Disability Monthly Income2 if Total and Permanent Disability arise from an accident3
Successor Life Assured4 under Surviving Spouse Benefit5
No medical underwriting6
Product Details
| Product Type |
Endowment |
| Payment Term |
Single Premium
|
| Policy Term |
Varies based on choices of Retirement Age and Monthly Income Period:
|
| Issuance Age |
Cash & SRS PRUGolden Retirement Premier @ 55 : 19 to 51 Age Next Birthday PRUGolden Retirement Premier @ 60 : 19 to 56 Age Next Birthday PRUGolden Retirement Premier @ 65 : 19 to 61 Age Next Birthday PRUGolden Retirement Premier @ 70 : 19 to 66 Age Next Birthday |
| Limits |
Minimum Guaranteed Monthly Income: $200 Minimum Single Premium: SRS: $20,000 Cash: $50,000 Maximum Disability Monthly Income2: $6,250 per month |
| Maturity Benefit |
On the maturity date of the policy, we pay one instalment of Monthly Income1; any accumulated Monthly Income with interest; and Maturity Bonus, less any amounts owning to us. |
| Death Benefit |
During the Accumulation Period The Death Benefit will be the higher of:
The Death Benefit will be the higher of:
plus any accumulated Monthly Income1 & interest earned (if any). |
| Total & Permanent Disability Benefit |
Accidental Disability If the life assured becomes "Totally and Permanently Disabled" because of an Accident3 before age 70, we will pay a stream of monthly income ("Disability Monthly Income2") equal to the Guaranteed Monthly Income until the maturity of the policy or upon of the death of the life assured, whichever is earlier. |
| Cash Benefit |
Known as Monthly Income Benefit Once your Monthly Income Period begins, we will pay you on a monthly basis:
Monthly Income1 is payable for 10, 15 or 20 years |
| Critical Illness Benefit |
Not Applicable |
| Accidental Death Benefit |
Not Applicable |
| Other Benefit |
Surviving Spouse Benefit5 |
| Enhance Your Coverage |
Not Applicable |
How PRUGolden Retirement Premier works:
David, age 50, would like to receive a Monthly Income1 from age 65 for 20 years.
He pays a single, upfront premium of $145,270.
Accumulation Period The duration from policy inception to the commencement of the Monthly Income Period.
Monthly Income Period The duration when Monthly Incomes are payable by Prudential. Choice of Monthly Income Period of 10, 15 or 20 years.
Note: The Non-guaranteed Monthly Income and Maturity Bonus are not guaranteed, and are illustrated at a projected investment rate of 4.75% per annum for the participating fund. The actual benefits payable will vary according to the future performance of the participating fund.
Footnotes:
- PRUGolden Retirement Premier provides a stream of Guaranteed Monthly Income starting from the Policy Anniversary immediately before the life assured attains the selected retirement age of 55, 60 65 or 70 years old for a period of 10, 15 or 20 years.
- If the life assured becomes disabled due to an Accident before the Policy Anniversary before the life assured attains age 70 years old, we pay a Disability Monthly Income which is equal to the Guaranteed Monthly Income until the maturity of the policy or upon the death of the life assured, whichever is earlier. If the life assured stops being disabled, we stop the Disability Monthly Income payments and this benefit will terminate. The maximum Disability Monthly Income payable is $6,250.
- An “Accident” is an unforeseen and involuntary event, which directly causes death or injury by violent, external and visible means, and is independent of any other cause (such as illness or disease of the life assured).
- You have the option to appoint your spouse as a Successor Life Assured under the Surviving Spouse Benefit. The Surviving Spouse Benefit is available on a policy that has a husband and wife as joint owners of the policy. This would mean one of the policyowners is the Main Life Assured, and the other policyowner can be appointed as the “Successor Life Assured”. Appointment of Successor Life Assured is subject to acceptance by Prudential.
- With the Surviving Spouse Benefit, should the Main Life Assured passed away, we will not pay out the Death Benefit as the policy will now continue on the life of the Successor Life Assured, until the maturity of the policy, or the death of the Successor Life Assured, whichever event occur first.
- Medical check-ups or answering health-related questions may be required if the Main Life Assured or policyowner(s) add(s) an optional supplementary benefit; or if the total premiums for selected plans per life assured issued in the past 24 months exceed S$5 million (or equivalent). Selected plans will be reviewed and determined by Prudential from time to time.
- If you bought your Policy using SRS funds, your Policy is subject to the terms and conditions of the Supplementary Retirement Scheme. All payments made will be according to the terms and conditions of the Supplementary Retirement Scheme.
- The illustrated values use bonus rates assuming an illustrated investment rate of return of 4.75% per annum for the participating fund. At 3.25% per annum illustrated investment rate of return, the Non-guaranteed Monthly Income is $128 and the Total Illustrated Payout is $303,848. As bonus rates are not guaranteed, the actual benefits payable will vary according to the future performance of the participating fund.
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.
As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid.
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 for distribution 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 this brochure, the English version shall prevail.
This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact your insurer or visit the GIA/LIA or SDIC web-sites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).
Information is correct as at 22 Aug 2019.
This advertisement has not been reviewed by the Monetary Authority of Singapore.