• July 21, 2024

Pru Life UK has introduced PRULifetime Income, a traditional insurance product that provides a guaranteed 5% annual payout for life and 200% lifetime protection for the family.

With this insurance plan, policyholders can enjoy a guaranteed 5% yearly payout to cover various needs, such as education expenses, business ventures, retirement planning, or even big-ticket purchases. This annual payout starts at the end of the sixth policy year and continues until maturity, regardless of market fluctuations.

PRULifetime Income goes beyond guaranteed payouts. It provides 200% life insurance coverage until the insured reaches 100 years old.

With a minimum coverage amount of P250,000 payable over 5 or 10 years, PRULifetime Income caters to various financial goals.

For a P2 million sum assured for a 10-year-old child on a 10-year plan, the policy guarantees a total payout of P900,000 by the time the child reaches 24. He or she will continue to receive payouts until age 100, and their future family will receive P4 million upon the policyholder’s passing.

A 30-year-old individual who wants P500,000 sum assured can get total payout of P375,000 when he/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.

“Many Filipinos now look for regular streams of income to pursue their life goals without the fear of financial instability,” said Allan Tumbaga, Pru Life UK EVP and Chief Customer & Marketing Officer.

“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,” he added.

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