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    PruInvestorPlus Write Up

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    Ojobira George Allison

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    © All Rights Reserved
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    PruInvestorPlus Write Up

    Uploaded by

    Ojobira George Allison
    9 views4 pages

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    9 views4 pages

    PruInvestorPlus Write Up

    Uploaded by

    Ojobira George Allison

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    PRUInvestor Plus

    Prudential Uganda – Pru Investor Plus


    ABOUT PRUDENTIAL
    At Prudential, we understand that building a brighter tomorrow starts today. As one of the world’s oldest and
    strongest life insurers, we have been helping our customers create better and more secure futures for more than
    170 years. Today, we serve over 25 million customers worldwide.

    PRUDENTIAL AFRICA
    Prudential has deep roots in Africa – in Africa, we issued our first life insurance policy in Uganda in 1932. We
    were delighted to return to Africa with the launch of our new life insurance businesses in Ghana, Kenya, Uganda,
    Zambia, Nigeria, Cote d’Ivoire, Togo and Cameroon. Already, we are one of the region’s fastest-growing life
    insurers, with over a million customers.

    OUR TRACK RECORD


    Prudential has a long and proud history of keeping our promises to customers. In the First World War, we paid
    claims on more than a third of the British soldiers who gave their lives. Following the sinking of the Titanic in 1912,
    we paid claims in respect of 324 of the passengers.

    Now the benefits of life insurance and saving from a company with over a 170-year track record of integrity and
    financial strength are available to Ugandans.

    ABOUT PRU INVESTOR PLUS


    PRUInvestor Plus is a whole life assurance policy with a savings(investment) component. The policyholder
    pays regular contributions i.e. monthly The PRUInvestor Plus combines the benefits of protection (whole life
    assurance cover) and savings. The plan gives you peace of mind in that, should anything happen to you, your
    loved ones will be secure.

    KEY FEATURES
    1. Minimum and maximum entry ages are 18 and 65 respectively.
    2. Minimum and maximum sums assured are 20 million and 3 billion respectively.
    3. Cover is for the whole of life for the policy holder.
    4. The policy has flexible payment terms; whole of life; to age 50; to age 55; to age 60; to age 65.
    5. A minimum of 20% of the total premium is allocated to the risk cover and a maximum of 80% to the
    investment contributions.
    6. A waiting period of two months will apply on the policy following a reinstatement after a lapse.
    7. The critical illness benefit is payable two weeks after diagnosis, if death happens within that period only
    the death benefit applies.
    PRODUCT BENEFITS
    • Death benefit: In the event of death, Prudential pays 100% of the sum assured plus accrued bonuses.
    • Critical illness: On first time diagnosis of a listed illness, Prudential pays 30% of the sum assured up to
    a maximum of 300 million. 100% of the accumulated fund if any will be paid to the policy holder. The
    remaining risk premium will be waived for the remaining payment term. The death benefits are still payable
    when they fall due.
    • Permanent Total Disability: 100% of the sum assured up to a maximum of 300 million is payable if the
    insured becomes impaired. 100% of the accumulated fund if any will be paid to the policy holder.
    • The risk sum assured earns a discretionary bonus (3.5%) every year the policy remains in force.
    • The investment contributions earn a discretionary 10% annual compound interest payable monthly.
    • The client qualifies to withdraw 100% of the accumulated fund value plus any declared interest every 3
    years during the premium paying term.

    PRUInvestor Plus
    TERMS AND CONDITIONS
    1. The policy has no maturity pay-out
    2. The policy acquires a surrender value after 2 years.
    3. On cancellation before 25 months, the percentages of investment contributions will be as follows: 75%
    of the fund value after 6 months, 85% between 7 and 12 months, 90% between 13 and 24 months.
    Investment pay-out at 25 months plus is 100% of investment fund.

    FREQUENTLY ASKED QUESTIONS:-


    Is there an age limit?
    Yes - the minimum entry age for one to take out this plan is 18 years and the maximum age is 65 years.

    What is the minimum and maximum policy term?


    The policy does not have a term however, one can choose to pay to throughout life up to a maximum of 100 years
    or up to age 50, 55, 60 and 65, respectively.

    What happens if I miss a premium payment?


    Provided your policy is still within the first two years, Prudential will allow you a grace period of up to 180 calendar
    days. During this period, you will continue to enjoy cover, meaning that should the insured event occur, the
    applicable benefits shall be paid out.

    After two years of premium payment, the policy will attain a value and will be a paid-up policy to extent of the
    premiums that have been paid. This value can always be accelerated by paying arrear premiums

    What happens if I stop paying the premiums?


    After the grace period, if premiums remain unpaid for a policy that has not completed two (2), your policy shall
    lapse (cover/benefits are suspended).

    You will be given a year within which to pay arrear premiums and have the cover reinstated.

    After two years, as the last resort, you can surrender your policy and receive the surrender value (from the
    protection portion) + your investment plus accrued interest less administration fee.

    Can a lapsed policy be reinstated?


    Yes, provided this is done within twelve months from the date of lapse and that all arrear premiums are paid. At
    the discretion of Prudential, confirmation of continued good health may be required.

    What happens if my nominated beneficiary dies?


    In the event of death of your nominated beneficiary, you will be allowed to nominate another beneficiary.

    Is there a waiting period for claiming any of the benefits?


    A waiting period of 60 days shall apply to policies only from the from date of reinstatement in respect of either
    death, or critical illness or permanent total disability arising from natural causes.

    The waiting period shall not apply for accidental causes.

    PRUInvestor Plus
    PRUDENTIAL UGANDA CONTACT DETAILS
    Office: +256-800200052; +256-312251400
    Email address: [email protected]
    For more information about Prudential, visit our website:
    www.prudential.ug

    PRUInvestor Plus

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