Are you looking for a way to save for your future goals while also protecting yourself and your loved ones against life's uncertainties? If so, PRUsave 6th Series might be the solution you've been searching for. Let's dive into the details of this unique endowment plan and see how it can help you achieve your financial objectives.
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PRUsave 6th Series is a regular premium endowment plan offered by Prudential. It's designed to help you save systematically while providing life insurance coverage. This plan combines the benefits of disciplined savings and protection in a single policy , making it an attractive option for those who want to secure their financial future.
PRUsave offers policy terms ranging from 10 to 45 years, allowing you to choose a term that aligns with your specific financial goals.
When your policy matures, you'll receive your maturity benefit as a single lump sum payment, useful for major life events or expenses.
Provides protection against Death, Terminal Illness, and Total and Permanent Disability (TPD) until the policy anniversary before you turn 65.
If purchased for a child, they can buy a new policy when PRUsave matures, without needing a medical examination (if below 25 years at maturity).
Allows purchase of a new endowment or term plan without medical examination during significant life events.
Enhance your plan with additional riders for more comprehensive coverage, including crisis waivers and payer security options.
Let's look at two examples to better understand how PRUsave can help in different scenarios:
Mr. Lim, age 35, saves S$4,108 annually for 20 years for his son's education. Projected maturity payout: S$117,103 (S$70,000 guaranteed, S$47,103 non-guaranteed).
Mr. Goh, age 45, saves S$6,026 yearly for 20 years for retirement. Projected maturity payout: S$167,290 (S$100,000 guaranteed, S$67,290 non-guaranteed).
Encourages regular, disciplined savings, helping you build a substantial nest egg over time.
Provides comprehensive life insurance coverage while you save.
Various policy terms and optional riders to tailor the plan to your specific needs and life stage.
Ability to purchase new policies at significant life events without medical examination.
Unique benefits like continued coverage options for your child.
Single payout at maturity can be particularly useful for funding major life expenses or investments.
While PRUsave 6th Series offers many benefits, it's important to consider a few points:
1. Long-Term Commitment: Early termination usually involves high costs.
2. Non-Guaranteed Returns: Part of the maturity benefit depends on the performance of Prudential's participating fund.
3. Premium Increases: Premiums for some supplementary benefits may increase based on future claims experience.
4. Age Limitations: Some benefits, like TPD coverage, only apply until age 65.
5. Maximum Coverage Limits: There are limits on additional coverage you can purchase at life events.
Yes, but early surrender usually involves high costs, and you may receive less than the premiums you've paid.
Part of the maturity benefit is guaranteed, but a portion is non-guaranteed and depends on the performance of Prudential's participating fund.
It's best to check with a Prudential Financial Consultant about options for changing your policy after purchase.
Missing premium payments could lead to your policy lapsing. It's crucial to maintain regular premium payments.
Yes, PRUsave allows you to purchase additional coverage at certain life events without medical examination, subject to certain limits.
PRUsave 6th Series offers a unique combination of savings and protection , making it an attractive option for those looking to secure their financial future while safeguarding against life's uncertainties. Its flexibility and adaptability to different life stages make it suitable for a wide range of financial goals, from funding a child's education to planning for retirement.
However, as with any financial product, it's essential to carefully consider your personal circumstances, financial goals, and risk tolerance before making a decision. While PRUsave offers many benefits, it's a long-term commitment that requires careful consideration.
Ready to explore if PRUsave 6th Series is right for you? Don't rely on just one perspective. Get expert insights tailored to your unique situation. Sign up now to receive 5 expert opinions on endowment plans . These professionals will review your specific financial goals and provide personalized recommendations, helping you make the most informed decision possible.
By consulting with multiple experts, you'll gain a comprehensive understanding of your options and ensure you're choosing the best savings and protection plan for your future. Don't leave your financial security to chance – get the expert advice you deserve today.
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