About Prudential Term Insurance
Life is full of uncertainties and even when we live a very planned and disciplined life, many a times, we encounter difficult financial situations. Even our savings may not be able to help us deal with such situations. Hence, we need to opt for an insurance policy that can provide us with all the required protection against the uncertainties in life. Prudential Term Insurance policies have been designed to help people deal with a variety of financial uncertainties. They also help people to save money and multiply their income.
Prudential plc is a multinational insurance company headquartered in United Kingdom. It was founded in 1848 and is one of the largest insurance companies in the world. Prudential Singapore is a subsidiary of Prudential Corporation Asia, the largest division of Prudential plc. The company has its presence across 12 markets in Asia including Malaysia and Singapore. Prudential Singapore has been operational for the last 84 years. The company was awarded an AA rating by Standard & Poor’s, a credit rating agency.
Prudential offers a wide range of insurance products such as Personal Accident Insurance, Critical Illness Insurance, Disability Insurance, Health Insurance, Mortgage Protection, Life Insurance, Medical Insurance, Term Insurance and so on. Prudential Term Insurance policies offer maximum coverage and tons of features that make them very beneficial to the policyholders.
Prudential Term Insurance policies
Prudential Insurance Company provides the following term insurance policies:
- Max Protection Multiplier –
It is an add-on term insurance policy that offers an assured sum which is equivalent to 5 or 10 times the premium amount that you pay on your main policy annually. This amount is paid in addition to the lump sum amount that might be paid with the main policy.
Features and Benefits of Max Protection Multiplier
- It comes with an assured sum of S$300,00 for every insured individual.
- It is offered with only select endowment policies and comes with 5 years of payment terms and 10 / 15 years policy terms.
- If the policyholder dies within 12 months of meeting with an accident, he/she will receive accidental death benefits.
- It comes with accelerated disability benefits with pay out as high as 100% of the assured sum.
It is a term policy which has been designed to offer coverage against Terminal Illness and Death. The coverage offered under this policy multiplies over time to meet your changing needs.
Features and Benefits of PRUterm Ascend
- It comes with supplementary benefits that cover disability, crisis and personal accident.
- It offers 5 unique policy term options and you can either choose a 10 year policy or a policy that can last till 75 years of age.
- It offers the flexibility of purchasing another PRUterm Ascend policy without the need of medical underwriting.
- It offers greater coverage with an assured increasing sum and helps you protect your family.
It is a unique term insurance policy that offers complete refund of the insurance premiums along with comprehensive and enhanced protection against the uncertainties of life. The total amount of premiums paid is refunded to the policyholder without any interest.
Features and Benefits of PRUterm Total Refund
- This policy provides coverage against Terminal Illness, Disability and Death for a period of 20 years.
- You only premiums for the initial 10 years of the policy and the amount is refunded when the policy expires.
- It also offers accidental death benefits, which cover participation in activities deemed high-risk.
- The policy guarantees lump sum payments along with guaranteed returns when the policy expires.
It is a corporate insurance policy offered only to employees of an organization, in collaboration with the employer. This term insurance policy comes with a tenure of 10 years.
Features and Benefits of PRUtermplus Advantage
- The family members of the policy holder get a lump sum payment in the event of his/her death or disability.
- The policy comes with accidental death benefits and the family members of the insured get a payment of the assured sum in case of his/her accidental death.
- In case the policyholder meets with an accident and is hospitalized, he/she can take advantage of the hospital care benefits offered with the policy.
- It offers loyalty benefit in the form of a discount of 10% on premium payments for the first year on select policies.
- If no claim is made during the initial 5 years of the policy, the policy holder will be rewarded with No Claim Bonus.
This term insurance policy is ideal for those who want to save money while enjoying the benefits of a comprehensive insurance policy. This policy offers yearly cashback to the policyholders.
Features and Benefits of PRUflexicash Protection Plus
- The family members of the policyholder are paid a lump sum amount, which can be as high as 4 times the assured sum in case he/she is faced with Terminal Illness, Permanent and Total Disability or Death.
- The terms of the policy are flexible (15 / 25 years).
- The cashback can be received in 3 different manners, which include an annual cashback, a bigger pay out if it deferred after the 10th policy year, or enjoy interest at 3% p.a (non-guaranteed) if the cashback amount is accumulated over the years.
- The policy comes with valuable add-ons that cover crises, personal accidents etc.
It is a term insurance which provides high value but flexible coverage. It is ideal for those who want to enjoy maximum benefits from their insurance policy.
Features and Benefits of PRUTerm Vantage (SGD or USD)
- It offers a minimum assured sum of $500,000 and is available as both Singapore and US Dollars policy.
- It comes with optional benefits such as Crisis Care, Early Stage Crisis Waiver, Disability Provider III etc.
- It offers greater flexibility and higher coverage for a period of 10 years or longer.
- It is available to both non-residents and residents of Singapore.
It is a decreasing term insurance that offers basic lifetime coverage.
Features and Benefits of PRUDecreasing Term Vantage
- It provides insurance coverage against death until the age of 100 or the end of policy (whichever is earlier).
- It provides insurance coverage against terminal illness until the age of 65 or the end of policy (whichever is earlier).
- It comes with flexible policy term of 10 - 82 years.
- It offers the flexibility of adding Accelerated Disability Benefit for enhanced coverage.
Compare Prudential Term Insurance With Other Insurance Companies Offering Term Insurance in Singapore
- AIA Term Insurance
- NTUC Term Insurance
- AVIVA Term Insurance
- Great Eastern Term Insurance
- Manulife Term Insurance
- HSBC Term Insurance
- Tokio Marine Term Insurance
FAQs - Prudential Term Insurance
- I would like to save money through my term insurance policy. Which policy shall I opt for?
- I want to add Max Protection Multiplier to my existing PRUCash Max Limited Pay policy. Will I need to undergo medical check-up for the same?
- I am a self-employed individual. Can I apply for the PRUtermplus Advantage insurance policy?
- What are the benefits offered with the supplementary cover of Early Stage Crisis Waiver?
- What is the maximum age till which coverage is offered with the PRUTerm Vantage policy?
If you would like to save money and also get insurance coverage, you can opt for the PRUflexicash Protection Plus policy which offers cashback to policyholders.
No, you will not need to undergo any medical check up to add Max Protection Plus to your existing PRUCash Max Limited Pay (SGD or regular) policy.
No, only salaried employees between ages 16 - 60 can apply for this policy.
This supplementary cover waives off premium payments of the policy for a given period if the policyholder is diagnosed with a medical condition in its intermediate or early stage so that he/she can concentrate on getting treated.
The PRUTerm Vantage policy offers insurance coverage till the age of 100.