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Investment Linked Plan

PruLink SuperGrowth Account: Optimizing Your Savings with Life Insurance

In today's dynamic financial landscape, finding the right balance between protection and growth is crucial. The PruLink SuperGrowth Account, offered by Prudential Singapore, presents an innovative solution that combines life insurance coverage with investment opportunities. This single premium investment-linked insurance plan is designed to optimize returns on your savings while providing essential life insurance protection. Whether you're using cash, Central Provident Fund (CPF), or Supplementary Retirement Scheme (SRS) funds, PruLink SuperGrowth Account offers a flexible approach to securing your financial future. Let's delve into the key features and benefits of this unique product.

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How Investment-Linked Policies (ILPs) Work

Investment-Linked Policies (ILPs) like PruLink SuperGrowth Account combine life insurance protection with investment opportunities. Your premium is allocated between insurance coverage and investment units in chosen funds. The policy's cash value reflects premium allocation, charges levied, and investment performance of selected funds. Assurance charges are funded through the cancellation of units at bid price. PruLink SuperGrowth Account offers a range of PruLink Funds with varying risk levels, allowing you to tailor your investment strategy to your risk appetite and financial goals. It's important to note that every investment-linked product or fund combination has its own characteristics, including investment horizon, liquidity, and risk level.

PruLink SuperGrowth Account Insurance Coverage

PruLink SuperGrowth Account offers comprehensive insurance coverage to protect you and your loved ones. The policy provides essential financial protection in the event of death or total and permanent disability. Let's explore the key aspects of the insurance coverage provided by this plan.

Death Benefit

The death benefit is the higher of 110% of total premiums paid and top-ups less withdrawals, or the value of the units in your policy account at bid price. This ensures your beneficiaries receive substantial financial support in the event of your passing.

TPD Coverage

While not explicitly mentioned in the provided product details, many investment-linked policies typically include Total and Permanent Disability (TPD) coverage. It's advisable to consult with a Prudential representative for specific details on TPD benefits under the PruLink SuperGrowth Account.

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PruLink SuperGrowth Account Rider Options

The PruLink SuperGrowth Account offers flexibility in customizing your insurance coverage. While specific rider options are not detailed in the provided product information, investment-linked policies often allow for additional coverage through riders. These may include critical illness protection, hospital income benefits, or accident coverage. To get a comprehensive understanding of available rider options and how they can enhance your protection, it's recommended to speak with a Prudential financial consultant.

PruLink SuperGrowth Account Investment Component

The PruLink SuperGrowth Account offers a diverse range of investment options to help you grow your wealth. With access to various PruLink Funds, you can tailor your investment strategy to match your financial goals and risk tolerance. Let's explore the key aspects of the investment component:

Fund Variety

PruLink SuperGrowth Account provides access to a wide range of PruLink Funds, including equity, balanced, and fixed income options. This diversity allows you to create a portfolio that aligns with your investment objectives and risk appetite.

Expert Management

The PruLink Funds are managed by experienced investment professionals from various asset management firms, including Eastspring Investments, Schroders, Aberdeen Standard, and others. These experts employ diverse investment strategies to optimize returns.

Fund Switching

You have the flexibility to switch units between different PruLink Funds. There's a minimum switch amount, and the remaining units in the fund you're switching from must meet a stipulated minimum value based on the bid price at the time of the switch.

Performance Tracking

Prudential provides annual statements on the performance and value of your investment-linked policies. Additionally, you'll receive Semi-Annual Reports and Annual Audited Reports within 2 and 3 months respectively from the last date of the reporting period.

Fees and Charges

Understanding the fees and charges associated with the PruLink SuperGrowth Account is crucial for making an informed decision. Here's a breakdown of the key costs involved:

Net Sales Charge

The net sales charge is 3% of your single premium for policies bought with cash or SRS monies, and 0% for policies bought with CPF monies. This charge includes an initial investment charge of 5% reflected in the difference between offer and bid prices of each PruLink Fund.

Assurance Charge

For policies bought with Cash or SRS monies, an assurance charge applies to every premium paid. The charge depends on the life assured's age and gender, ranging from 1% to 2% of the premium for male lives aged 1-70 years next birthday.

Fund Management Charge

Each PruLink Fund has its own continuing investment charge, ranging from 0.30% to 1.60% per annum. This charge covers the cost of professional fund management and is reflected in the unit price of the funds.

Surrender Charge

While not explicitly mentioned in the provided details, investment-linked policies often have surrender charges, especially in the early years. It's advisable to consult the policy document or a Prudential representative for specific information on surrender charges.

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Flexibility and Customization

PruLink SuperGrowth Account offers various features that allow you to adapt your policy to changing financial needs and market conditions. Here are some key flexibility options:

Premium Top-ups

You can make additional investments through top-ups, with a minimum amount of $2,000. Top-ups are allowed at any time within the permissible age limits and come with additional death benefits of 110% of the top-up amount.

Partial Withdrawals

The policy allows for partial withdrawals, with a current minimum withdrawal amount of $1,000. The remaining units in your account must be worth at least $1,000 based on the bid price at the time of withdrawal.

Fund Switching

You have the flexibility to switch between different PruLink Funds, allowing you to adjust your investment strategy as needed. There are minimum switch amounts and requirements for remaining fund values.

Adjustable Coverage

While not explicitly mentioned in the provided details, many investment-linked policies allow for adjustments to insurance coverage. Consult with a Prudential representative for specific options to modify your coverage over time.

Conclusion

The PruLink SuperGrowth Account offers a versatile solution for individuals seeking to combine life insurance protection with investment opportunities. This product may be particularly suitable for:
to be matched with 5 different insurance advisors. You'll receive diverse insights and proposals, helping you make an informed decision about your insurance and investment needs. Plus, by participating, you'll earn entries into our 'Premiums On Us' quarterly draw, where you could win coverage of your insurance premiums. Don't miss this opportunity to optimize your financial future with expert guidance and potential rewards!