Pru Life UK launches latest insurance product

MANILA, Philippines — Pru Life UK has introduced PRULifetime Income – its latest traditional insurance product that provides a guaranteed five percent annual payout for life and 200 percent lifetime protection for the family.

Policyholders can enjoy a guaranteed five percent yearly payout to fund family needs such as major purchases, education expenses, business needs, or retirement. The annual payout is equivalent to five percent of the sum assured and is payable from the end of the 6th policy year or until maturity, regardless of market conditions.

“Many Filipinos now look for regular streams of income to pursue their life goals without the fear of financial instability. We want to accelerate value creation for our customers by delivering diverse financial products and solutions tailored to address their evolving and unique needs at every life stage. PRULifetime Income guarantees lifelong payouts plus double insurance coverage, helping customers achieve financial security,” Pru Life UK chief customer and marketing officer Allan Tumbaga said.

PRULifetime Income offers more comprehensive financial protection with its 200 percent insurance coverage. Until age 100, the insured can leave a double financial safety net for their loved ones no matter what happens.

Payable for five or 10 years, the minimum coverage amount is P250,000. This product is the ideal option for parents planning for their child’s education, individuals with big purchase plans or travel goals and those who want a financially secure retirement.

For P2 million sum assured for a 10-year-old child, 10-year plan, get guaranteed P900,000 total payout at the age of 24, earn continuously until age 100 and leave P4 million to the child’s future family.

A 30-year-old individual who wants P500,000 sum assured can get a total payout of P375,000 when he or she turns 50 to fund a business or vacation and leave P1 million to loved ones in case of death.

PRULifetime Income can also provide non-guaranteed dividends starting at the third policy year and can be paid in cash, applied to premium due or left to accumulate interest set by the company.

With its promise to be the most trusted partner and protector for many Filipino families, Pru Life UK continues to listen to customer needs and provide high value for money financial offerings accessible through its over 37,000 digitally-empowered agency force.

Pru Life UK sustains its position as the leading life insurer in the Philippines with the highest New Business Annual Premium Equivalent, according to the Insurance Commission’s Life Insurance Sector Quarterly Statistics for Q1 2024.