Life is a journey filled with exciting milestones and unexpected turns. As you navigate through different stages, your protection needs evolve. That's where PRUActive Life III comes in - a flexible whole-of-life insurance plan designed to grow with you , providing comprehensive coverage while building cash value over time. Let's dive deep into what PRUActive Life III offers and how it can support you throughout your life's journey.
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PRUActive Life III is a versatile whole-of-life insurance plan that combines life protection with savings. It's designed to adapt to your changing needs, offering comprehensive coverage against death, terminal illness, and total and permanent disability , while also accumulating cash value over time. What sets it apart is its flexibility and customizable features, allowing you to tailor the plan to your specific requirements.
Choose to pay premiums for anywhere between 5 to 35 years. Align your payment term with your financial planning.
Boost your coverage up to 5 times until age 80 . Applies to Death, Terminal Illness, and Total and Permanent Disability coverage.
Crisis Care (PRUActive Life III) covers Late Stage Medical Conditions. Early Crisis Care (PRUActive Life III) covers Early and Intermediate Stage Medical Conditions. Crisis Care Accelerator Benefit for ICU admissions due to major organ surgeries.
One-year premium waiver during difficult times.
Defer premium payments interest-free for up to 2 years without disrupting coverage.
Get an additional 10% coverage when an immediate family member purchases PRUActive Life III.
| Age | What suggestion covers | Premium |
|---|---|---|
| 24, Female making $83,333.333 a month | TPD $10,000,000 death $10,000,000 sum assured $500,000 | $6,010 |
| 24, Female making $8,000 a month | death: till age 75 $250,000 after age 75 $125,000 accelerated disability: till age 75 $230,000 after age 75 $125,000 accelerated terminal illness: till age 75 $250,000 after age 75 $125,000 | $2,812.5 |
| 32, Female making $6,000 a month | death $400,000 critical illness $400,000 early stage critical illness $250,000 | $5,136.9 |
| 28, Male making $4,166.667 a month | death tpd $500,000 death tpd after 70 $100,000 critical illness until 70 $125,000 | $2,647.79 |
Death Benefit: Pays out upon death of the insured. Terminal Illness Benefit: Pays out upon diagnosis of terminal illness. Total and Permanent Disability Benefit: Pays out if you become totally and permanently disabled.
Increases your basic coverage by 2x, 3x, 4x, or 5x. You can choose the multiplier to last until age 65, 70, 75, or 80.
Crisis Care (PRUActive Life III): Covers Late Stage Critical Illnesses. Early Crisis Care (PRUActive Life III): Covers Early and Intermediate Stage Critical Illnesses. Crisis Care Accelerator Benefit: Pays out for ICU admissions due to major organ surgeries.
Waives one year of premiums during challenging times.
Increases your basic sum assured by 10% when an immediate family member buys PRUActive Life III. Capped at S$100,000 per life assured. Only applicable before age 55 (next birthday).
Let's look at how PRUActive Life III might work for someone like Suzie:
Suzie, a 31-year-old aspiring artist, purchases PRUActive Life III with the following details:
Here's how her coverage evolves over time:
Age 31: Suzie starts her coverage
Age 33: She gets married. Her husband also buys PRUActive Life III, triggering the Kinship Booster Benefit. Suzie's basic coverage increases to S$88,000 (S$80,000 + 10%)
Age 46: Diagnosed with a benign tumor, Suzie receives a S$4,000 payout from her Early Crisis Care benefit
Age 50: Suzie stops paying premiums but remains protected
Age 72: After an accident and ICU stay, Suzie receives a S$60,000 Crisis Care Accelerator Benefit payout
Age 80: Multiplier Benefit expires. Suzie's coverage continues at S$88,000 for Death, Terminal Illness, and Total Permanent Disability, and S$20,000 for Critical Illness and Early Critical Illness
The cost of PRUActive Life III depends on several factors:
While specific premium amounts aren't provided in the brochure, it's important to note that premiums for the main plan and supplementary benefits are not guaranteed and may be adjusted based on future claims experience.
Flexible premium payment terms (5 to 35 years)
Multiplier benefit to boost coverage
Optional critical illness coverage
Family-oriented benefits (Family Waiver and Kinship Booster)
Premium deferment option
Lifelong coverage
Premiums are not guaranteed and may increase
Early termination may result in high costs and low surrender value
Multiplier benefit expires at a chosen age (maximum 80)
Some benefits have age restrictions or caps
You should check with Prudential about options for increasing or decreasing coverage after purchase.
The premium deferment option allows you to defer payments for up to 2 years without losing coverage.
The policy accumulates cash value over time, but the exact amount may not be guaranteed.
It's best to discuss this with a Prudential Financial Consultant, as options may be limited after purchase.
Like all insurance policies, there are exclusions. Review the policy documents for specific details.
PRUActive Life III offers a comprehensive and flexible approach to life insurance, designed to adapt to your changing needs throughout life. With its customizable features, optional critical illness coverage, and family-oriented benefits, it provides a robust safety net for various life stages and unexpected events.
However, as with any significant financial decision, it's essential to carefully consider your personal needs, financial situation, and long-term goals before committing to a policy. The flexibility of PRUActive Life III is a strong point, but it also means you need to make several decisions about coverage levels, payment terms, and optional benefits.
Remember, buying life insurance is a long-term commitment. While PRUActive Life III offers valuable protection and potential cash value accumulation, it's crucial to understand all aspects of the policy, including potential premium adjustments and the implications of early termination.
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Read the complete transcript of our expert discussion about PRUActive Life (III). This detailed analysis covers key features, benefits, and important considerations for potential policyholders.
Welcome to the deep dive where we try to cut through some of the noise, you know, and bring you clearer insights on things that really matter for life here in Singapore.
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