#FinancePH - Pru Life UK launches latest product, PRULifetime Income, offering 5% guaranteed payouts for life & double insurance coverage

Pru Life UK introduces PRULifetime Income – its latest traditional insurance product which provides a guaranteed 5% annual payout for life and 200% lifetime protection for the family.

Policyholders can enjoy a guaranteed 5% yearly payout to fund family needs such as major purchases, education expenses, business needs, or retirement. The annual payout is equivalent to 5% of the sum assured and is payable from the end of the 6th policy year or until maturity, regardless of market conditions.

PRULifetime Income offers more comprehensive financial protection with its 200% insurance coverage. Till age 100, the insured can leave a double financial safety net for their loved ones no matter what happens. 

Payable for 5 or 10 years, the minimum coverage amount is P250,000. This product is the ideal option for parents planning for their child’s education, individuals with big purchase plans or travel goals and those who want a financially secure retirement. 

For P2 million sum assured for a 10-year-old child, 10-year plan, get guaranteed P900,000 total payout at the age of 24, earn continuously till age 100 and leave P4 million to the child’s future family. A 30-year-old individual who wants P500,000 sum assured can get total payout of P375,000 when he/she turns 50 to fund a business or vacation and leave P1 million to loved ones in case of death.*

PRULifetime Income can also provide non-guaranteed dividends starting at the third (3rd) policy year and can be paid in cash, applied to premium due or left to accumulate interest set by the Company.**

"Many Filipinos now look for regular streams of income to pursue their life goals without the fear of financial instability. We want to accelerate value creation for our customers by delivering diverse financial products and solutions tailored to address their evolving and unique needs at every life stage. PRULifetime Income guarantees lifelong payouts plus double insurance coverage, helping customers achieve financial security," Allan Tumbaga, Pru Life UK EVP and Chief Customer & Marketing Officer, shares.

With its promise to be the most trusted partner and protector for many Filipino families, Pru Life UK continues to listen to customer needs and provide high value-for-money financial offerings accessible through its over 37,000 digitally-empowered agency force. 

Pru Life UK sustains its position as the leading life insurer in the Philippines with the highest New Business Annual Premium Equivalent (NBAPE), according to the Insurance Commission’s Life Insurance Sector Quarterly Statistics for Q1 2024. Read about it here 

To know more about PRULifetime Income, talk to a Pru Life UK agent today or visit https://www.prulifeuk.com.ph/en/prulifetime-income 

*Guaranteed 5% annual cash payout and 200% insurance coverage based on sum assured.   Annual payout is payable from the end of the 6th policy year until maturity if the insured is alive during the payout dates. Product terms & conditions apply. Policyowner & insured should be in the Philippines at the time of sale.

**Dividends and dividend accumulation rates are not guaranteed.

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