Get advice
Whole Life

Introduction

Whole life insurance provides lifelong protection and a savings component, making it a versatile financial tool. PRUActive Life (III) from Prudential is a comprehensive whole life plan designed to adapt to your changing needs. This flexible policy offers coverage for death, terminal illness, and total permanent disability, with options to enhance protection against critical illnesses. With features like a multiplier benefit and premium deferment, PRUActive Life (III) aims to provide robust coverage while building cash value over time. Let's explore the key aspects of this policy to help you determine if it aligns with your long-term financial goals.

Insurance Calculator

Find the right coverage in minutes

  • Accurate coverage estimates
  • Save time with instant results
  • Personalized recommendations

Coverage and Benefits

PRUActive Life (III) offers a range of comprehensive coverage options to protect you and your loved ones. From death benefits to critical illness protection, this policy is designed to provide financial security throughout your lifetime. Let's examine the key coverage components and benefits that make PRUActive Life (III) a versatile whole life insurance solution.

Flexible Death Benefit

The death benefit payout is the higher of the sum assured plus bonuses or the multiplier benefit (if chosen). With the multiplier option, coverage can be boosted up to 5 times the sum assured until age 80.

Cash Value Growth

PRUActive Life (III) accumulates guaranteed cash value over time. This feature allows policyholders to build savings while maintaining life coverage.

Non-Guaranteed Bonuses

The policy offers potential for additional returns through non-guaranteed reversionary and performance bonuses. These bonuses, if declared, can enhance the overall value of your policy.

Terminal Illness Coverage

The plan provides an accelerated terminal illness benefit. The payout is similar to the death benefit, offering financial support during challenging times.

TPD Protection

Total and Permanent Disability coverage is included, with a maximum payout of $2,000,000. The benefit amount depends on the age at disability and whether the multiplier option was chosen.

Critical Illness Option

Optional riders are available for critical illness coverage. The Crisis Care rider covers up to 56 conditions, while Early Crisis Care provides coverage for up to 74 early, intermediate, and late-stage critical illnesses.

Investment and Savings Components

PRUActive Life (III) combines protection with potential for long-term wealth accumulation. The policy's participating fund invests your premiums to potentially enhance returns over time. Understanding the investment strategy, historical performance, and projected growth can help you gauge the savings potential of this whole life plan.

Diversified Investment Strategy

As of December 2021, the fund's asset allocation was 59.4% in bonds, 25.8% in equities, 7.8% in property, and 7% in cash and other investments. This diversified approach aims to balance growth potential with stability.

Strong Historical Returns

The participating fund has demonstrated impressive performance, with 5-year and 10-year returns of 6.19% and 6.12% respectively as of December 2021. These returns have consistently exceeded industry averages.

Cash Value Projection

While specific projections aren't provided, the policy's cash value is expected to grow over time through guaranteed cash value accumulation and potential non-guaranteed bonuses. The actual growth will depend on the fund's performance.

Real premiums suggested for PRUActive Life (III)

AgeWhat suggestion coversPremium
29, Male making
$4,166.667 a month
TPD
$250,000
critical illness
$250,000
death
$250,000
early critical illness
$200,000
terminal illness
$250,000
$3,636.5 annual
33, Female making
$6,000 a month
critical illness
$400,000
death
$400,000
early stage critical illness
$250,000
$5,136.9 annual
25, Female making
$83,333.333 a month
Not elaborated
$176.64 annual
25, Female making
$8,000 a month
Not elaborated
$473.29 annual
Get your own quotes →

Riders

PRUActive Life (III) offers optional riders to enhance and customize your coverage. These add-ons allow you to tailor the policy to your specific needs, providing additional layers of protection for various life scenarios. Let's explore the key riders available with this whole life plan.

Early Crisis Care

This rider provides coverage for up to 74 early, intermediate, and late-stage critical illnesses. The maximum coverage amount is $350,000, offering substantial protection against a wide range of medical conditions.

Crisis Care

Covering up to 56 critical illness conditions, this rider offers comprehensive protection. It includes a unique Crisis Care Accelerator Benefit, paying 50% of the benefit amount for certain vital organ surgeries requiring ICU admission.

Multiplier Benefit

This optional feature allows you to increase your sum assured by 1 to 5 times. You can choose to have this multiplier in effect until age 65, 70, 75, or 80, providing flexibility in coverage duration.

Policy Loan and Surrender Options

PRUActive Life (III) offers flexibility through policy loans and surrender options. These features can provide financial relief in times of need or allow you to access the policy's value if your circumstances change. Understanding these options is crucial for making informed decisions about your policy throughout its lifetime.

Flexible Loan Options

PRUActive Life III offers various loan types, including Automatic Premium, Policy, and Surgical & Nursing Loans. Most loans accrue interest, except for the interest-free policy loan available during the premium deferment period.

Surrender Value Calculation

If you surrender the policy after 36 months of premium payments, you'll receive the guaranteed surrender value plus any non-guaranteed surrender value. However, early termination may result in receiving less than the total premiums paid.

Industry Comparison

While PRUActive Life III offers competitive features, it has higher premiums and fewer features compared to some alternatives. Its participating fund performance is strong, but not the best in the market, with a relatively high expense ratio averaging above 2.90%.

Claims and Customer Service

Filing a claim with Prudential for your PRUActive Life (III) policy is designed to be straightforward. You can initiate the process online through their website or mobile app, where you'll find detailed instructions and required documentation. For personalized assistance, Prudential's customer service team is available via phone at 1800 333 0 333. They can guide you through the claims process, answer policy-related questions, and provide support for any issues you may encounter. Prudential aims to process claims efficiently, but processing times may vary depending on the type of claim and completeness of documentation provided. For complex situations or specific policy inquiries, you can also reach out to your assigned Prudential Financial Consultant for tailored guidance.

Fill in your details to get started

or

By filling this out, you agree to allow us to contact you about insurance related information.

1170+

Suggestions Facilitated

11+

Insurance Brands Represented

154+

MAS Licensed Advisors

Conclusion

PRUActive Life (III) may be particularly suitable for individuals seeking lifelong coverage with a savings component. It could be a good fit for those who value flexibility in premium payments and coverage amounts, especially with the multiplier benefit option. The policy might also appeal to those looking for comprehensive protection including critical illness coverage through optional riders. However, given its higher premiums compared to some alternatives, it's crucial to carefully evaluate your long-term financial goals and protection needs before making a decision.
. You'll receive varied insights and options, helping you make a more informed decision about your insurance needs. Plus, by meeting with advisors, you'll earn entries into our 'Premiums On Us' quarterly draw, where you could win payment of your quarterly insurance premiums. Don't miss this opportunity to explore your options and potentially save on your insurance costs!

Why people were suggested PRUActive Life (III)

John's profile photo
John, 29
GenderMale
Monthly Income$4,166.667
Insurance Types Suggested
  • Critical Illness
  • Term Life
  • Whole Life
Why Star Secure Pro was suggested:
This whole life policy is recommended to provide comprehensive coverage for critical illness, total and permanent disability, terminal illness, and death. The coverage amounts align with the advisor's recommendation of 5x annual income for critical illness and 10x annual income for death and TPD. As a whole life policy, it offers lifelong protection till age 100 with a limited premium payment term of 25 years.
Susan's profile photo
Susan, 33
GenderFemale
Monthly Income$6,000
Insurance Types Suggested
  • Critical Illness
  • Disability
  • Whole Life
  • Investment Linked Plan
Why PruActive Life was suggested:
The PruActive Life whole life plan is recommended to provide comprehensive coverage for death, critical illness, and early stage critical illness until age 70. The coverage amounts align with the advisor's benchmarks based on the prospect's income, addressing income replacement needs and potential liabilities. The whole life plan offers lifelong coverage and the option for legacy planning or cash value accumulation.