PRUvantage

Universal Life Insurance Product - A true advantage over all the rest.

A plan which offers a true advantage over all the rest, giving you both guaranteed returns and comprehensive protection.

Benefits

WHAT DO I GET?

1) Protection
The plan provides not just life and disability coverage but can be made more comprehensive when you choose the add-on benefits that give you financial protection for critical illnesses, accidents and medical needs.
 
2) Positive Returns
The plan comes with a unique 'positive returns' guarantee. We do this by applying a 'smoothing formula' to your annual dividend so that even during the worst of years (if the return on the fund turns negative), you will still receive a dividend. The dividend declared will be credited to you on a quarterly basis.
 
3) Transparency
With comprehensive protection and returns guarantee comes unmatched transparency as well. We ensure that you get to see how much of your premiums are being used to build up your policy value, as well as the charges that are deducted from your policy. All in all, with PRUvantage, you finally get an all-in-one plan that lets you safeguard your money but still earn more from it, and ensures that you remain comprehensively protected.
 
* At the end of each calendar year, we will declare a minimum annual dividend on the policy account that is equivalent to the average monthly savings rate over the last 12 months of the three largest local banks in Malaysia. The three largest banks are selected based on their share capital determined from the last available published annual report. The ‘smoothing formula’ may also lower returns as the performance during the good years is averaged out to make up for the bad years.

How It Works

How do I start?
First, determine your basic protection and savings needs, then decide on your choice of add-on benefits required.
 
What are the premium amounts?
The premium rate varies by entry age, gender and smoking status. Minimum monthly premium is RM100.
 
How will the premium be credited into my Policy Account?
Assuming your monthly premium is RM100, the crediting method of the premium is explained in the table below:
 
Policy Year
1 & 2
3 & 4
5
6 & above
Premium (%)
35%
70%
90%
100%
Credited per annum
RM420
RM840
RM1,080
RM1,200
 
 
 
When does the policy mature and how much will be paid?
The policy will mature at the Life Assured’s age 100 years next birthday and the full value in the Policy Account will be payable.

For a child plan, the ownership of the policy can be transferred to the child upon his/her reaching age 25 years old nexr birthday.

 
Is there a surrender value and how much will be paid?
Yes, the full value in the Policy Account will be payable less any outstanding policy loan, loan interest and surrender charge.
Note: If you surrender before the quarterly dividend is declared, the surrender value will not include the pro-rated dividend for the quarter in which the surrender is made.
 
Can I take up a policy loan on this plan?
Yes, subject to terms and conditions.

 

Who Can Apply

This plan is specifically for:
  • Individuals who are between 16 – 60 years old next birthday, and are looking for comprehensive protection plus the advantage of positive and guaranteed returns on their savings – all in one handy package.
  • Parents who wants the best for their children who are under 16 years old age next birthday.

Optional Benefits

Reap the full advantage of our protection offerings by selecting from a host of optional add-on benefits that can be attached to the PRUvantage plan with additional premium.

1) Critical Illness Covers
Provides protection against critical illness, coming in handy when you need it the most. Benefits offered are Crisis Cover Benefit, Crisis Cover Plus and Crisis Cover Benefit.
 
2) Medical and Health cover
Let these benefits help relieve the financial strain as a result of hospitalisation stays and surgery costs, such as PRUmed, PRUhealth and Hospital Benefit.
 
3) Income Cover
Get added coverage for accidents with these benefits that supplements the main protection plan: Accidental Death & Disablement, Accidental Medical Reimbursement and Weekly Indemnity.
 
4) Payor Covers
Pays for your plan in the event of death (if applicable), TPD before age 70 or critical illness with PRUpayor, PRUspouse payor and PRUparent payor
 
5) Parent Covers
With the new PRUterm (Parent) and Crisis Cover Plus (Parent), the benefit will pay out a lump sum to the Legal Personal Representative of the Assured in the event that the insured parent suffers from TPD before age 70, passes away or is diagnosed with a critical illness (if applicable).
 
6) Disabililty Covers
Provides a benefit every year until age 65 throughout the duration of the Total and Permanent Disability (TPD) that happens before age 60 years next birthday.
 
7) Female Illness Cover
Provides lump sum benefit upon diagnosis of female-specific illnesses and cancers.

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