1. What is Daily Unit Pricing?

 

This means that the accumulated funds will now be invested daily, as opposed to the weekly system which we had implemented since we started the Unit Linked line in 2002.

 

2. How will Daily Unit Pricing affect my unit-linked policies?

 

The shift will enable our fund managers to strategically and opportunistically invest your money at a faster rate, thus, optimize on the performance of the underlying investments of your unit-linked policy.

 

3. What is the mechanism for Daily Unit Pricing?

In the current weekly pricing method, all approved transactions of the week use the forward price published every Friday of the current week. In daily unit pricing, all policy transactions, such as issuance, cancellation, withdrawals, top-ups, etc will use the unit price published one day after the transaction is approved.

 

Example: Application for New Insurance Policy

 

Received at Head Office  |  Tuesday 12 noon

Approved*                      |  Thursday

Unit Price to be used      |  Friday unit price

 

*Approved refers to the date Pru Life UK has processed and accepts your application for insurance. This process applies to all customer initiated policy transactions involving purchase and selling of units. The processing time-lines used in the above illustration are indicative and may vary according to the complexity of the transaction.

 

4. Is Pru Life UK the only company doing this?

 

Other companies are also using the daily unit pricing schedule.

 

5. Can Pru Life change their pricing method anytime?

 

Pru Life UK reserves the right to change the frequency of the pricing method as deemed appropriate, but always with the best interest of the policy owners as the primary consideration.