Whole life insurance is a crucial tool for long-term financial planning, offering lifelong protection and wealth accumulation. The PRULife Vantage Achiever Prime Series from Prudential stands out as a comprehensive solution designed to preserve, create, and transfer wealth. This innovative product combines lifetime coverage with flexible premium options and unique benefits, making it an attractive choice for those looking to secure their financial future and leave a lasting legacy for their loved ones.
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The PRULife Vantage Achiever Prime Series offers a range of comprehensive coverage options and benefits designed to provide financial security throughout your lifetime. From substantial death benefits to guaranteed cash value accumulation, this product aims to meet various financial needs and goals.
The policy provides a death benefit that includes the sum assured plus non-guaranteed bonuses. With the Multiplier Benefit, the payout can be up to 275% of the sum assured if death occurs before age 85 or 100, depending on the chosen option.
The policy acquires an immediate cash value from day one for single premium policies. This guaranteed component grows over time, providing a stable financial foundation.
Policyholders can benefit from potential non-guaranteed bonuses, including Reversionary Bonuses and Performance Bonuses. These can significantly enhance the policy's value over time.
The policy includes an Accelerated Terminal Illness Benefit, which pays out the higher of the sum assured plus bonuses or the Multiplier Benefit if diagnosed before the expiry age.
Total and Permanent Disability coverage is available through the optional Accelerated Disability Benefit rider, providing financial protection if TPD occurs before age 70.
The PRULife Vantage Achiever Prime Series combines insurance protection with investment opportunities, allowing policyholders to potentially grow their wealth over time. This section explores the investment strategy, historical performance, and projected growth of the policy's savings component.
The policy's premiums are invested in a participating fund with a diversified asset allocation. As of December 2021, the fund comprised 89.9% bonds, 9.3% equities, and 0.8% other assets, aiming for stable long-term growth.
The participating fund has demonstrated consistent returns, with a 3-year average investment return of 5.30% and a 5-year average of 4.57% as of December 2021. This performance highlights the fund's stability and growth potential.
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, offering a balance of security and growth potential.
| Age | What suggestion covers | Premium |
|---|---|---|
| 57, Female making $2,888 a month | Not elaborated | Not provided |
PRULife Vantage Achiever Prime Series offers optional riders to enhance your coverage and tailor the policy to your specific needs. These riders provide additional protection and flexibility, allowing you to customize your insurance plan.
This rider provides coverage for Total Permanent Disability (TPD) before age 70. It pays out the higher of the sum assured plus bonuses or the Multiplier Benefit if TPD occurs.
Available for USD policies, this rider waives future premiums if the insured is diagnosed with any of 30 covered critical illness conditions, ensuring continued coverage during challenging times.
The PRULife Vantage Achiever Prime Series offers flexibility through policy loans and surrender options. These features provide access to funds when needed, though it's important to understand their implications on the policy's long-term value.
Policyholders can access funds through policy loans, subject to non-guaranteed loan interest rates. While this provides financial flexibility, it's important to note that loans may reduce the policy's long-term value.
The policy acquires a surrender value from day one for single premium policies and from year 3 for regular premium policies. The surrender value includes guaranteed and non-guaranteed components, potentially growing over time.
Compared to average whole life insurance products, PRULife Vantage Achiever Prime Series offers unique features like the Multiplier Benefit and the option to change the life assured, providing enhanced flexibility and potential for higher payouts.
Prudential is committed to providing efficient claims processing and responsive customer service for PRULife Vantage Achiever Prime Series policyholders. To file a claim, policyholders or beneficiaries should contact Prudential's customer service at 1800 333 0 333 or visit their website at www.prudential.com.sg. The company offers guidance through the claims process and aims to process claims promptly upon receiving all required documentation. For general inquiries or policy servicing needs, customers can reach out to their Prudential Financial Consultant or use the same contact channels for personalized assistance.
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The PRULife Vantage Achiever Prime Series may be an excellent fit for individuals seeking comprehensive lifetime coverage with wealth accumulation potential. It's particularly suitable for those planning their legacy, looking for keyman insurance for their business, or desiring flexibility in their insurance coverage. High-net-worth individuals aiming to transfer wealth efficiently to the next generation may find this product especially appealing.
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