IMPORTANT NOTICE: Our Prudential Customer Service Centre on the 1st Floor of Marina One, East Tower will be opened by appointment only, from 2 June 2020. To ensure your safety, we have put safe management measures in place. For more information on COVID-19 relief measures please click here.

IMPORTANT NOTICE : For more information on COVID-19 related reliefs please click here.

LIA Critical Illnesses (CI) Framework 2019 : In accordance to LIA Critical Illness (CI) Framework 2019, Prudential Singapore’s policies purchased from 26 August 2020 will adhere to the updated list of critical illnesses definitions. For more information, speak to your Prudential Financial Consultant today.

PRUACCESS: In accordance with PDPC's Advisory Guidelines on the PDPA for NRIC and other National Identification numbers, we will no longer be using NRIC/passport numbers/FIN for login purposes from 1 Aug 2019. If you have yet to create a user ID, please click here.

Changes to the way you’ll receive your letters: From Aug-20, we'll begin sending letters such as payment and renewal notices, payout letters and more, digitally instead of via mail. Eligible customers will receive an SMS whenever there is an e-letter for you. For more info, please click here.

Your policy protects you against the financial difficulties, which may arise due to uncertain health conditions or situations. When these unfortunate incidents happen, you want a peace of mind.

Keeping yourself covered against uncertainty is probably the best gift you can give yourself and your loved ones.

At Prudential, we offer you a few options in sustaining your policy even in the midst of financial uncertainty. These options may differ depending on your policy conditions.

For advice and more information on which option is applicable to your policy and most suitable for your needs, call your Financial Consultant. Alternatively, you can call contact our PRUCare team (PRUCare@prudential.com.sg) or call our PRUCustomer Care at 1800 333 0 333

Non-Investment Linked policy

With no surrender value


  • Lower your coverage and/or supplementary benefits to reduce premium payable
  • Pay your premium monthly instead of yearly (or other frequencies) to spread out your premium payments

 

With surrender value


  • Lower your coverage and/or supplementary benefits to reduce premium payable
  • Pay your premium monthly instead of yearly (or other frequencies) to spread out your premium payments
  • Convert your policy to a paid-Up policy
  • Take a loan from your policy and repay the loan when you are able to
  • Convert all or part of your reversionary bonus to cash
  • Withdraw part of the accumulated cash benefit
  • Activate the Automatic Premium Loan feature for future premium payments

 

Investment Linked policy

With no surrender value


  • Lower your supplementary benefits to reduce premium payable
  • Pay your premium monthly instead of yearly (or other frequencies) to spread out your premium payments
  • Reduce your regular premium

 

With surrender value


  • Lower your supplementary benefits to reduce premium payable
  • Pay your premium monthly instead of yearly (or other frequencies) to spread out your premium payments
  • Reduce your regular premium
  • Redeem some units available in your policy to obtain cash
  • Utilise units available in your policy to pay premiums

 

PRUShield Policy


  • Downgrade to a lower plan to reduce premium payable
  • Pay your rider premium monthly instead of yearly (or other frequencies) to spread out your premium payments. 

 

Aid for Customers in Hardship

Prudential has rolled out a series of relief measures to provide more support for customers who are financially impacted due to COVID-19 and are facing hardship.

Do approach your Financial Consultant to do a holistic review of your policy coverage, and to understand alternative options available for you to continue with your policies. This will enable you to commit to a comfortable premium payment to ensure sustainability going forward. Alternatively, please contact our PRUCare team at PRUCare@prudential.com.sg or call our PRUCustomer Care at 1800 333 0 333.


1. Deferred Premium Payment Plan

(for premiums due 1-Oct-2020 to 31-Mar-2021)

The Deferred Premium Payment (DPP) plan is designed to give our customers more time to pay their premiums and to stay protected amidst the pandemic. Customers facing hardship can apply to defer their premium payment to a later date, up to a maximum of 6 months.

Who is eligible?

  • Policyholders with outstanding premiums due between 1 October 2020 to 31 March 2021 (both dates inclusive),
  • Where policyholder(s) have explored other financing options available for their policies such as Automatic Premium Loan (APL), premium holiday, conversion to paid-up policy, or opting for a lower sum assured,
  • And are unable to make payment of outstanding premiums due to financial hardship^.
  • Applicable for policies that were not on deferment of billing with premiums due between 1 April 2020 to 30 September 2020.

Do note, the last date of application for this is 31 March 2021.

For more information on application process and other queries, please refer to our FAQ.

2. Premium Instalment Plan

We recognise that having to make a lump sum payment at the end of the grace period might be difficult, especially for those who were severely affected by COVID-19 and are facing hardship.

To further extend our support to customers on the Deferred Premium Payment plan, we are rolling out a Premium Instalment Plan which offers you the option to pay in instalments over 3 to 6 months.

Who is eligible?
  • Policyholders with outstanding premiums due between 1 October 2020 to 31 March 2021 (both dates inclusive),
  • Who have explored other financing options available for their policies such as Automatic Premium Loan, premium holiday, conversion to paid-up policy, or opting for a lower sum assured
  • And are unable to make a lump sum payment of outstanding premiums due to financial hardship^

For more information on application process and other queries, please refer to our FAQ.

3. Cover Assured Scheme

The Cover Assured Scheme (CAS) is launched to assist existing Prudential policyholders who are unable to sustain premium payments on their existing policies, resulting in policy lapses.

This scheme will allow policyholders to continue enjoying basic insurance coverage at a more affordable premium rate. It also gives the policyholders an option to revive their original policies in future, when their financial situation improves.

Who is eligible**?

  • Where the policy lapse date fall between 1 October 2020 and 31 October 2021, due to outstanding premium payments,
  • Existing policyholders with selected participating policies or investment-linked plans that have regular premium payments, purchased from April 2015 onwards and are in Singapore dollars,
  • And are facing financial hardship^

*Do note that CAS is not offered for all other plans including single premium plans, plans denominated in USD, standalone term plans and policy with trust/ assignment arrangement.

To apply:

  • Login to PRUaccess, on the left column, look for Online transactions and select Apply for Cover Assured Scheme (CAS).

**For more information on the eligibility criteria, application process, and other queries please refer to the FAQs available in your PRUAccess at https://pruaccess.prudential.com.sg/pruaccess_sg/login.jsp .

If policyholders have explored all options and still continue to face financial hardship (ie. Policyholders who meet the hardship criteria and are able to provide documentary proof of the loss of income), can still request for further assistance. Please contact our PRUCare team at PRUCare@prudential.com.sg or call our PRUCustomer Care at 1800 333 0 333 and we will advise you on the next step and do our best to support those in need.

^Criteria for Hardship

The following hardship criteria applies to Premium Instalment Plan, Deferred Premium Payment Plan and Cover Assured Scheme.

(A) Salaried Employees who face


  • Unemployment due to retrenchment/ contract termination
  • Involuntary no-pay leave for a period of 3 consecutive months or more
  • Reduction in monthly salary by at least 30% for a period of 3 consecutive months or more in comparison to average monthly salary in 2019

 

(B) Self-Employed who face


  • Loss of source of income (example: closure of business)
  • Reduction in monthly income by at least 30% for a period of 3 consecutive months or more in comparison to his/her average monthly income in 2019

 

For more information on application process and other queries, please refer to our FAQ.