PRUVantage RetireCare
What is PRUVantage RetireCare?
A growing life expectancy makes you time-rich, but are you in the pink of health to chase your lifelong passions worry-free and uninterrupted?
As we age, rising aging-related illness becomes more prevalent and may put a strain on you and your loved ones – both financially and mentally. It is time to take your retirement planning to the next step, with a plan that takes care of your income and medical needs so that you can reinvent retirement and protect it from the unexpected.
PRUVantage RetireCare empowers you to supplement your medical needs while investing to grow your retirement nest – so that you can enjoy your golden years uninterrupted.
What matters to you, matters to us. DO retirement differently with PRUVantage RetireCare!
Key benefits
Protect your retirement nest
Retire your way
Enjoy flexibility to keep up with your changing needs
Option to adjust your retirement age3, monthly income, coverage, make withdrawals and top-ups4 as you need.
Grow your retirement funds
Supplementary benefits
Crisis Waiver III
- Waiver of premiums7 upon diagnosis of any one of the 35 critical illnesses listed.
Early-Stage Crisis Waiver
- Waiver of premiums for 5 years upon diagnosis of early stage medical conditions8 and allows a claim for a second time9.
- Waiver of premiums for 10 years10 upon diagnosis of intermediate stage medical conditions.
Payer Security Plus
- Waive the premiums of your spouse’s or child’s policy in the event of your death, total and permanent disability11 or critical Illness.
- This benefit covers you up to the end of the premium term or when you turn 85, whichever is earlier.
Early Payer Security
- Waives premiums should unforeseen happen to the payer to protect your loved ones.
- Waiver term12 upon diagnosis of early / intermediate stage medical condition up to 10 years.
Useful tools and Information
Important Information
About PRULink Funds
PRUVantage RetireCare allows you to have access to our suite of expert-managed PRULink funds.
Choose funds aligned to your risk appetite and preferences, and make unlimited fund switches as your risk profile or financial goals change.
To find out more about PRULink funds, click here.
Footnotes
1Policy Year limits of 5% of Basic Sum Assured or $25,000 whichever is lower on a per life basis applies. Benefit applies to treatment and admission in Singapore Hospitals only. Refer to product summary for the full list of eligible medically necessary claims.
2Drawdown from Initial Investment Account, payable until the account value falls to zero. It is non-guaranteed and will depend on the underlying PRULink(s) performance. If the account value falls to zero, the policy will lapse and the accompanying benefits such as Care Fund , Death and Terminal illness will be terminated.
3Adjustment of retirement age can only be made after premium term from a range of age 55 to 65 subjected to policy terms and conditions.
4Minimum top-up of $1,000 to the Additional Investment Account and 3% premium charge applies.
5Charged monthly on latest Initial Investment Account value. Payment period varies between 8 – 15 years and is dependent on the chosen premium term.
6Welcome bonus, loyalty bonus and retirement bonus are paid in the form of units as a percentage of first year premium, Initial Investment Account Value and Sum Assured respectively.
7Crisis Waiver III waives the future premiums of the covered benefits up to the end of premium term or age 85, whichever is earlier.
8After the end of the Early Stage Premium Waiver Period, premium payment for the covered benefits will resume, but the premiums for the Early Stage Crisis Waiver will continue to be waived.
9The second claim will waive the premium for another 5 years. This is provided the second claim is not for the same medical condition as the first claim, and it does not fall within the same category of the first early stage medical condition.
10If there was a successful claim under early stage medical conditions, the Intermediate Stage Medical Conditions Benefit only waives 5 years of future premiums.
11Total and permanent disability coverage is up to the policy anniversary on which the person covered under Payer Security Plus turns 65 years old.
12Early Payer Security can only be attached when Payer Security III or Payer Security Plus is attached to the same policy. The maximum premium waiver period under Early Payer Security benefit is 10 years, after which the benefit terminates and premium payment for the covered benefits will resume. The waiver duration is subject to the remaining premium term of the covered benefits and the coverage term.
Additional Notes
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.
PRUVantage RetireCare is an Investment-Linked Plan (ILP) which invests in ILP sub-fund(s). Investment products are subject to investment risks including the possible loss of the principal amount invested. The performance of the ILP sub-fund(s) is not guaranteed and the value of the units and the income accruing to the units (if any) may fall or rise. Past performance is not necessarily indicative of future performance.
A product summary and product highlights sheet(s) relating to the ILP sub-fund(s) are available and may be obtained from your Prudential Financial Consultant. A potential investor should read the product summary and product highlights sheet(s) before deciding whether to subscribe for units in the ILP sub-fund(s).
Buying health insurance products that are not suitable for you may impact your ability to finance your future healthcare needs. Premiums for some of the supplementary benefits are not guaranteed and may be adjusted based on future claims experience.
The information contained herein 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.
These policies are 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 of 11 November 2022.
This advertisement has not been reviewed by the Monetary Authority of Singapore.
