Why do you need PRULife Saver Plus?
There are milestones which you wish to reach for you and your loved ones. You can do your best to plan but life is accompanied by uncertainties. PRULife Saver Plus is designed to help you achieve these goals even in the unfortunate event that you pass away prematurely, or you are unable to work because of total and permanent disability. The cash payment to your loved ones will help them get back on track for reaching the milestones.
Product Benefits
Product features at a glance
How does the plan work?
| Insurance Coverage Term | 5 years | 7 years | 10 years | 15 years |
| Entry Age (age last birthday) | 18 - 60 years | 18 - 58 years | 18 - 55 years | 18 - 50 years |
| Insurance Premium Payment Options | 3 years | 5 years | 5 - 10 years | 7 - 15 years |
| Minimum Coverage (Sum Assured) |
Regular Pay: LAK 40.000.000 Limited Pay: LAK 30.000.000 |
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| Maximum Coverage (Sum Assured) |
Subject to Prudential’s underwriting policy |
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| Premium Frequency Allowed | Annual, Semi-annual, Quarterly and Monthly Please note for 5 and 7 year policy terms only annual premium payment frequency is allowed |
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Benefit Description:
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Upon the unfortunate event of death of the life assured before the maturity date, 100% of the coverage amount (sum assured) will be paid to the beneficiary(ies). |
Upon the unfortunate event of total and permanent disability of the life assured before the maturity date, 100% of the coverage amount (sum assured) will be paid to the beneficiary(ies). |
Upon death or Total & Permanent Disability of life assured due to an accident, 200% of sum assured is payable. |
Policy Loan options:
- You have an option to take a loan against the policy. You can opt for the loan of up to 90% of policy cash value. The rate of interest on the policy will be determined as per the company policy and will be compounded annually.
- The outstanding loan plus interest will be deducted from any benefits being paid under the policy. Once the value of the loan and outstanding interest exceeds the Cash Surrender Value, the policy will immediately terminate.
Maturity Benefit:
If the life assured is alive and not permanently disabled at the maturity date, provided that the policy is still in force with all premiums paid, the maturity benefit will be paid as follows:
| 5 years policy term | 7 years policy term | 10 years policy term | 15 years policy term |
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100% of Annual Premium x Premium Term |
102% of Annual Premium x Premium Term |
105% of Annual Premium x Premium Term |
110% of Annual Premium x Premium Term |
Learn More
Case Study of PRULife Starter Plus
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Ms. Phonesy |
35 years old / Female |
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Decided to buy PRULife Saver Plus for herself as the life assured with the following features: - Total coverage amount: LAK 100.000.000 - Policy term: 15 years
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Insurance permium that Ms. Phonesy pays:
| Premium Payment Method | Monthly | Quarterly | Semi-annually | Annually |
| Regular pay for 15 years (15/15) | LAK 308.500 | LAK 925.500 | LAK 1.799.500 | LAK 3.427.500 |
| Limited pay for 7 years (15/7) | LAK 525.000 | LAK 1.605.500 | LAK 3.121.500 | LAK 5.946.000 |
Benefits for Ms. Phonesy:
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1 Protection benefits for Ms. Phonesy’s family in the event that she passes away or suffers Total Permanent Disability (TPD) due to: |
2 Savings benefit for Ms. Phonesy and her family at the end of the policy term should none of the events under part 1 occur: |
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Non-accidental causes
LAK 100.000.000 |
Accidental causes
LAK 200.000.000 |
Receive a Lum sum payment at the end of the 15th year for regular payment
LAK 56.553.500 |
Receive a Lum sum payment at the end of the 15th year for limited payment
LAK 45.784.000 |
Note: The maturity value in each of the above cases is calculated as sum of total premiums paid in annual frequency * 110%.
Frequently asked questions about PRULife Saver Plus
| Do I need medical examinations to apply for a PRULife Saver Plus policy? | A medical examination may be required for the application, depending on the applicant’s age and the desired coverage amount (sum assured). Applicants of an advanced age and/or who would like higher coverage may be subject to medical examination. |
| What if I cannot pay my premiums? |
To benefit from the insurance cover, you should apply for this product if you intend to pay all |
| What if I would like to return the policy? | You have a 30 day cancellation period (Freelook Period) from date of receipt of the policy document. In such a case we will refund the premiums paid to you post deduction of fee for medical examination, if any, and any taxes paid. |
| What if I would like to cancel my policy? |
You may cancel your PRULife Saver Plus policy at any time. If you cancel your policy within the cancellation period (freelook period), we will return your paid (insurance payment) premiums, net of any medical examination and administration costs. After the cancellation period (freelook period), if you cancel the policy within the first two policy years, the policy will be cancelled, and no surrender value will be paid. Starting from the 3rd year of your policy, PRULife Saver Plus will accrue a surrender value. This means we can refund part of your premiums paid back to you should you cancel your policy after this point. |
| Can I reinstate a lapsed policy? | You may reinstate your policy within twenty-four (24) months from the date of lapse by paying all unpaid premiums to continue receiving the policy’s coverage. You may be asked to undergo a medical examination in line with the company’s underwriting policy. |
| What is the maturity benefit under the policy? | You will receive a percentage of total premiums paid at policy maturity, if you have paid all the due premiums. The percentage of premiums that you receive is dependent on the policy term and the premium payment frequency chosen by you. The benefit may be lower than the total premiums paid if the premium is paid through a non-annual frequency. |
| What are the exclusions of the product? | The policy has some exclusions on death and permanent and total disability coverage. |
Important Note: The terms and conditions stated in this website are non-exhaustive. For more information, please refer to the detailed product terms and conditions.
Exclusions
Exclusion on claim that is not caused by accident:
- Suicide or attempted suicide, self-inflicted injury, whether sane or insane.
- Any Human Immunodeficiency Virus (HIV) and/or any HIV-related illnesses including Acquired Immune Deficiency Syndrome (AIDS) and/or any mutations, derivation, or variations thereof.
- Committing or attempting to commit a criminal offence by the Policy Owner, the Insured Member/Dependent, or the Beneficiary.
- Drugs or stimulators or alcohol abuse, or their complications.
- War, invasion, acts of foreign countries (whether with or without war declaration), hostilities, act of terrorism, civil war, rebellion, participation in illegal acts, revolution, insurrection, military or usurped power, riot, or civil commotion.
- Pre-existing conditions, sickness, disease, or impairment from which the Insured is suffering and has consulted a doctor prior to the Insured’s Entry Date unless the Insured has been covered under this Policy continuously for 12 months.
Exclusion on claim that is caused by accident:
- Suicide or attempted suicide, self-inflicted injury, whether sane or insane.
- Any Human Immunodeficiency Virus (HIV) and/or any HIV-related illnesses including Acquired Immune Deficiency Syndrome (AIDS) and/or any mutations, derivation, or variations thereof.
- Committing or attempting to commit a criminal offence by the Policy Owner, the Insured Member/Dependent, or the Beneficiary.
- Drugs or stimulators or alcohol abuse, or their complications. This includes driving vehicles under the influence of alcohol as defined in current laws and regulations.
- Participation in dangerous sporting activities, including but not limited to scuba diving, mountain climbing, parachuting or any high-speed races, or in professional sporting activities.
- Participation in aviation activities except as a fare-paying passenger on a multi-engine, scheduled and licensed commercial aircraft.
- Pregnancy, giving birth or their complications.
- War, invasion, acts of foreign countries (whether with or without war declaration), hostilities, act of terrorism, civil war, rebellion, participation in illegal acts, revolution, insurrection, military or usurped power, riot, or civil commotion.
- Any disease or infection caused by worm infestation or insect/animal bite including but not limited to mosquito bite.
- Pre-existing conditions, sickness, disease, or impairment from which the Insured is suffering due to an Accident prior to the Insured’s Entry Date unless the Insured was covered under this Policy at the time the Accident took place.
Important Note: The terms and conditions stated in this website are non-exhaustive. For more information, please refer to the detailed product terms and conditions.
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