Retirement should be a time of relaxation and enjoyment with loved ones, but financial concerns can often cast a shadow over these golden years. Enter PRUGolden Retirement, an innovative insurance product designed to provide peace of mind and financial stability during your retirement. This plan offers a regular stream of retirement income, allowing you to focus on what truly matters. With additional benefits for disability due to accidents and the option to transfer the policy to your spouse, PRUGolden Retirement ensures that you can face your retirement years with confidence and security.
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PRUGolden Retirement is a participating regular premium endowment plan. This means that policyholders pay premiums at regular intervals and have the potential to receive both guaranteed and non-guaranteed benefits. The participating nature of the plan allows policyholders to potentially benefit from the performance of Prudential's participating fund through bonuses and dividends. However, it's important to note that these non-guaranteed benefits are subject to the fund's performance and are not fixed. This structure provides a balance between guaranteed retirement income and the potential for additional returns, making it an attractive option for those seeking both security and growth in their retirement planning.
PRUGolden Retirement offers a range of features that allow you to tailor your coverage to your specific retirement needs. From guaranteed benefits to potential bonuses, this plan provides various options to help secure your financial future. Let's explore the key aspects of coverage customization available with PRUGolden Retirement.
Stable retirement income. PRUGolden Retirement provides a guaranteed monthly income for 10, 15, or 20 years, depending on your chosen plan duration. This ensures a reliable financial foundation during your retirement years.
Potential for growth. In addition to the guaranteed income, you may receive non-guaranteed bonuses based on the performance of Prudential's participating fund. These bonuses can significantly enhance your overall retirement income.
Customizable payments. The plan offers flexible premium payment terms, allowing you to choose a payment schedule that aligns with your financial situation and retirement goals.
Variable returns. The illustrated values use bonus rates assuming an investment rate of return of 4.75% per annum. At a lower rate of 3.25%, the non-guaranteed monthly income would be $62, highlighting the impact of fund performance on potential benefits.
| Age | What suggestion covers | Premium |
|---|---|---|
| 40, Female making $6,000 a month | Not elaborated | Not provided |
PRUGolden Retirement goes beyond basic retirement income by offering valuable additional benefits and riders. These features provide extra layers of protection and flexibility, ensuring that your retirement plan can adapt to unexpected life events. Let's explore the key additional benefits that come with PRUGolden Retirement.
Financial security if disabled. If you become totally and permanently disabled due to an accident before age 70, you'll receive additional monthly payouts equivalent to 100% of your guaranteed monthly income. This ensures continued financial support even if you're unable to work.
Continued coverage without payment. In the event of total and permanent disability due to an accident, your future premiums will be waived. This allows your policy to remain in force without further financial burden during a challenging time.
Spousal protection. You have the option to transfer your policy to your spouse if you pass away before the policy expires. This ensures that your loved one can continue to benefit from the remaining payouts, providing financial security for your family.
Easy enrollment. PRUGolden Retirement offers guaranteed policy acceptance without the need for a medical check-up, simplifying the application process and ensuring coverage for a wider range of individuals.
While PRUGolden Retirement is designed as a long-term retirement solution, life's uncertainties may sometimes require access to funds before the policy matures. Understanding the surrender value and partial withdrawal options is crucial for making informed decisions about your policy. Here's what you need to know about accessing your funds before the policy term ends.
Policy cash-out option. The surrender value is calculated based on the premiums paid, any accumulated bonuses, and deduction of surrender charges. It's important to note that early termination may result in a surrender value less than the total premiums paid.
Flexible fund access. While specific details aren't provided in the product information, endowment plans typically allow for partial withdrawals subject to certain conditions and limits. These withdrawals may affect the policy's future benefits and values.
Early termination costs. Surrendering the policy before maturity usually involves high costs. These charges are designed to recover the insurer's expenses and may significantly reduce the amount you receive upon surrender, especially in the early years of the policy.
Prudential Singapore is committed to providing excellent customer service and a smooth claims process for PRUGolden Retirement policyholders. To file a claim or seek assistance, you can contact Prudential's customer service team at 1800 333 0 333. For more detailed information about the claims process or to access policy-related services, you can visit Prudential's official website at www.prudential.com.sg. Prudential also has a network of qualified Financial Consultants who can provide personalized guidance on your policy and assist with any queries or concerns you may have.
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PRUGolden Retirement offers a comprehensive solution for individuals looking to secure their financial future during retirement. This plan is particularly well-suited for those who value a guaranteed income stream, appreciate the potential for additional returns through bonuses, and desire protection against unforeseen circumstances like disability. It's an excellent choice for individuals in their 40s or 50s who are planning ahead for retirement, as well as those nearing retirement age who want to ensure a stable income for their golden years.
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