Have you ever wondered what would happen if you suddenly couldn't work due to illness or injury? It's a scenario that many of us prefer not to think about, but it's more common than you might realize. Even temporary or less severe health issues can significantly impact your ability to earn. That's where PRUSafe Income comes in - a unique insurance product designed to protect your income when life throws you a curveball.
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PRUSafe Income is an innovative income protection plan offered by Prudential . It's designed to provide a stable income when you're unable to work due to illness or injury, including mental health conditions. This plan aims to give you peace of mind, allowing you to focus on your recovery without worrying about financial strain.
Receive a fixed monthly income for up to 5 years if you're unable to perform your current job. The income is guaranteed, regardless of future changes in your employment status or income.
Your family receives 12 times your fixed monthly income if you pass away.
Includes Rehabilitation Benefit (up to 6 times your fixed monthly income), Get Well Benefit (3 times your fixed monthly income), and Waiver of Premium Benefit.
Choose your Deferment Period, Fixed Monthly Income, and Benefit Payout Period to suit your needs.
Only 5 questions to answer for sign-up , making it accessible and straightforward.
Total Benefits Received: S$243,000 (112 times the total premiums paid)
At age 35, Tom suffers an eye infection resulting in partial vision loss. After the 90-day deferment period, he receives S$3,000 monthly for 5 years (total S$180,000), claims a S$18,000 rehabilitation benefit, and all future premiums are waived.
Tom recovers and returns to his job as a Systems Analyst. He receives a Get Well Benefit of S$9,000.
If Tom passes away in a road accident at age 58, his family receives a Death Benefit of S$36,000.
Provides a safety net when you need it most, ensuring you can maintain your lifestyle and meet financial obligations.
Covers a wide range of scenarios, from temporary disabilities to long-term illnesses, including mental health conditions.
Offers benefits designed to support your recovery, such as the Rehabilitation Benefit and Get Well Benefit.
Customizable options for deferment period, monthly income, and payout period to suit your specific needs and budget.
Straightforward application process, requiring only 5 questions to answer.
Fixed monthly income is guaranteed, regardless of future changes in employment status or income.
PRUSafe Income is ideal for:
It's particularly valuable for those in professions where even a short-term inability to work could have significant financial implications.
While PRUSafe Income offers valuable protection, it's important to consider a few points:
It's best to check with Prudential about options for adjusting your coverage after purchase.
The plan continues to provide coverage even if you become unemployed, subject to certain terms and conditions.
Like all insurance policies, there are certain exclusions. It's important to review the product summary for detailed information.
If you start receiving the Disability Benefit, your premiums are waived until you recover. If you've fully claimed the Disability Benefit over your chosen payout period, premiums are waived until the end of the policy term.
No, the Get Well Benefit is only payable once and only if you've received at least 6 continuous months of the Disability Benefit.
PRUSafe Income offers a unique and valuable form of protection, safeguarding your income when you're unable to work due to illness or injury . It provides not just financial support, but also peace of mind, allowing you to focus on your recovery without the added stress of financial worries.
However, as with any financial decision, it's crucial to carefully consider your personal circumstances and needs before purchasing. While PRUSafe Income offers comprehensive coverage, it's designed to complement, not replace, other forms of insurance such as health or life insurance.
Remember, the best insurance plan is one that fits your specific situation and integrates well with your overall financial strategy. If you're considering PRUSafe Income or exploring income protection options, it's always wise to consult with a financial advisor who can provide personalized recommendations based on your unique circumstances.
Ready to explore your income protection options further? Don't rely on just one perspective. Get expert insights tailored to your unique needs. Sign up now to receive 5 expert opinions on income protection insurance. These professionals will review your specific situation and provide personalized recommendations, helping you make the most informed decision possible.
By consulting with multiple experts, you'll gain a comprehensive understanding of your options and ensure you're choosing the best coverage for your needs. Don't leave your financial security to chance – get the expert advice you deserve today .
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