PRU-WholeLife Cover
Retirement Plan

Independent finance, relaxed retirement

You wish a comfortable life and financial independence when you retire?
You dream about “an early retirement plan” to pursue your passion, hobby and plan?
Everything is only a plan if you do not take actions from now.
Understanding these wishes, Prudential is pleased to introduce PRU-WholeLife Cover - Retirement plan, a safe and effective savings solution to help you actively plan your retirement plan.

Highlights

from 100% sum assured

Death/ Total & permanent disabilities benefit

from 200% sum assured

Accidental death benefit

from 50% 150% of one annualizes target premium

Loyalty bonuses benefit

zero-interest cash advance up to 50% of Policy account value within 6 months

Terminal illness benefit

Product Details

Premium Term

Up to 100 years old (flexible premium payment from year 6th onward)

Policy Term

Up to 100 years old

Entry Age

0 - 65 years old

Maturity Benefit

100% policy account value

TPD Benefit

Max (sum assured, target premium account) + excess premium account

Death Benefit

Max (sum assured, target premium account) + excess premium account

Accidental death benefit = Death benefit + 100% sum assured

Other Benefits

Loyalty Bonus:

- 150% of one annualized target premium and shall be payable on the 10th Policy anniversary date.
- 100% of one annualized target premium and shall be payable on the 13th Policy anniversary date.
- 50% of one annualized target premium and shall be payable on the 16th Policy anniversary date and every 3 years thereafter.

Loyalty bonus is automatically added to Excess Premium Account Value

Investment Benefit:

Earn actual interest rate based on perfomance of the Universal Life fund but not less than guaranteed interest during policy term.

Terminal Illness benefit:

Zero-interest cash advance equals to 50% Policy Value Account but not more than VND 500 mil., for a period of 6 months as maximum, if the Life assured suffers from Terminal illness. 100% Policy account value still earns interest during the cash advance period of maximum 6 months.


Guaranteed Insurability Option:

The Policy Owner has the right to increase sum assured without underwriting within 90 days from the date of one of following events:
• Life assured getting marriage;
• Life assured having a baby or adopting a child;
• Life assured’s child joining school including primary school, secondary school, or high school, or university.

1. SAFE AND EFFECTIVE INVESTMENT SOLUTION FOR YOUR RETIREMENT PLAN WITH GUARANTEED INTEREST RATE AND ATTRACTIVE BONUSES FOR LOYAL CUSTOMERS

With PRU-WholeLife Cover - Retirement plan, you will be worry-free when your investment for retirement always grows safely and effectively.

  • Worry-free with guaranteed interest rate during the whole policy term. Under any circumstances, the crediting rate is assured to be not lower than the guaranteed minimum crediting rate as follows:

  • Earn interest rate based on performance of the Universal Life Fund.

The interest rate of the Universal Life Fund is publicly announced quarterly on website www.prudential.com.vn. Fund Performance report and Statement of Insurance policies are yearly sent to customers.

  • Receive attractive loyalty bonuses to increase savings value of the policy (1).

- Equals 150% of one annualized Target Premium and shall be payable on the 10th Policy Anniversary date.

- Equals 100% of one annualized Target Premium and shall be payable on the 13th Policy Anniversary date.

- Equals 50% of one annualized Target Premium and shall be payable on the 16th Policy Anniversary date and every 3 years thereafter.

2. GUARANTEED FINANCIAL SUPPORT FOR YOUR FAMILY WITH 100% SA AGAINST RISKS OF DEATH/ TPD

PRU-WholeLife Cover - Retirement plan financially supports you and your family from risks in life.

  • Receive an additional 100% SA if theLA’s death is due to accidents (3)
  • Receive a zero-interest cash advance up to 50% of Policy Account Value should the LA suffer from terminal illness. (4)
  • Protect the whole family in 1 policy through attachment of various riders.

3. FLEXIBLY PLAN FOR YOUR RETIREMENT

PRU-WholeLife Cover - Retirement plan will give you the activeness and flexibility in planning your retirement plan.

Special:

  • Exempt from heath underwriting when increasing SA on following occasions: LA’s marriage, LA’s having babies / child adoption, LA’s child joining elementary, secondary, high schools or university. (10)
  • SA ranges from 10 to 150 times of Target Premium, depending on protection needs and the entry age of LA.

Notes:

(1) Loyalty bonuses are automatically added to Excess Premium Account value if Target Premiums are paid fully annually and the Policyholder does not make withdrawal from the Target Premium Account value and not reduce SA during the review period. Review period is from Policy year 6 to Policy year 10 and every 3 years from Policy Year 11.

(2) TPD benefit is payable  in case the LA suffers from TPD before the Policy anniversary date right after the 80th birthday of the LA.

(3) In case the LA dies due to accident within 180 days from the date of accident before  the Policy anniversary date right after the 65th birthday of the LA.

(4) The cash advance does not exceed VND 500 mil. During the cash advance period, the PAV remains unchanged and is still entitled to earn interest on 100% of PAV. The maximum advance period is 6 months. After 6 months, if LA is still alive and Policyowner has not returned the cash advance, this cash advance will be deducted from PAV. SA, in this case, might be decresingly adjusted accordingly as per specified in Terms and Conditions.

(5) Customer has the right to top up with maximum of 3 times of Target premium per year during the first policy year, and with maximum of Target Premium per year for subsequent policy years. Top-ups can be made after full payment of Target Premium till current Policy year and riders’ premium till current due date, if any. Prudential reserves the right to stop receiving top up at any time during the policy term with notification to the Policy Owner.

(6) Customers have a right to make cash withdrawal from Excess Premium Account value at any time during policy term and/or from Target Premium Account value from Policy Year 3rd onwards (the withdrawal amount does not exceed 80% of Target premium account value after deducting fees).

(7) Reducing or temporarily stopping premium payment is allowed from Policy Year 6th onwards. However, customers are recommended to maintain premium payment regulary or top up to approach protection and investment targets as planned. Reducing or temporarily stopping premium might lead to policy lapses if PAV is not enough to pay for monthly Cost of insurance and Admin charges.

(8) Increase/decrease of SA is allowed from Policy year 3, provided new SA must meet the condition of minimum and maximum SA as per Prudential’s regulations. Increasing SA is only allowed in case LA age is not over age 65 at the time of request & meets underwriting requirements.

(9) The policy matures when the LA attains age 100, however, the PO may choose to terminate the policy earlier according to the actual needs in the future. Please be aware that insurance policy is a long-term commitment and investment; hence, except for force majeures, customers should not terminate the policy in early Policy Years due to the high Surrender Charges in this period. 

(10) The option can be taken one time only before the Policy anniversary date right after the 60th birthday of the LA and within 90 days from the date of one of mentioned events with the maximum increase of 50% of initial SA and not exceed VND 500 mil. Increasing SA will lead to Cost of Insurance increase and PAV decrease in the future. Therefore, to approach investment targets as plan, customers should pay more premium after increasing SA.

 

All of features and insurance benefits presented herein are of summarized nature and for reference only. All features and conditions thereof shall be carried out in accordance with the terms and conditions as approved by the Ministry of Finance. 

Please carefully study the terms and conditions to master your benefits, products' features and charges.

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