Following from last year’s launch of PRULink Elite Protector 5, British life insurer Pru Life UK is introducing the PRULink Elite Protector Series, an expanded line of the investment-linked product which provides Filipinos with the flexibility to control their coverage term. This product line integrates extensive protection coverage with the potential for wealth accumulation through fund investment, and is available in both peso and dollar denominations.
Through the expanded offering, policyholders may choose from four payment terms of 5, 7, 10, and 15 years, depending on their budget. In addition, various riders representing supplementary benefits may also be added to the Elite plan for enhanced protection against accident, death, disability, critical illness, and hospital expenses.
“We are very proud to introduce the PRULink Elite Protector Series – a product line that is based on one of our most successful investment-linked life insurance products, Elite 5. By design, it is meant to give policyholders extensive protection, as well as an opportunity to grow their money. Through this new offering, we hope to provide more Filipino families with financial protection and investment opportunities,” said Pru Life UK President and CEO Antonio “Jumbing” De Rosas during the product line’s media launch at the Crowne Plaza Galleria in Ortigas.
Greater potential to earn
Each payment term option – 5, 7, 10, or 15 years – corresponds to an arrangement of fund allocation. The percentage of allocation increases every year, thus facilitating faster fund accumulation. This product feature may bring policyholders closer to his or her medium- to long-term goals sooner, whilst enjoying comprehensive protection. For better opportunities to grow their money, policyholders may also make top-ups, or additional payments.
Aside from being able to choose from four payment term options, policyholders also have the flexibility to choose where to invest a portion of their premiums from Pru Life UK’s wide range of funds, managed by Eastspring Investments (Singapore) Limited.
Addressing the evolving needs of Filipinos
Mr. De Rosas explained further that the expanding of Elite 5 to the Elite series is a testament to Pru Life UK’s steadfast commitment to respond to the ever-changing priorities and expectations of Filipinos. “The Elite series was specifically customized to cater to those who are keen on purchasing Elite 5, but want even more flexible payment terms. Just like Elite 5, we believe that this product will be of great value to customers in achieving their long-term financial goals.”
Pru Life UK’s latest innovation reinforces the Company’s legacy of over 20 years in the Philippines. In 1996, the Insurance Commission granted the British subsidiary the license to operate and sell life insurance in the country. Since then, Pru Life UK has expanded its reach to over 80 branches in the Philippines, with the biggest life agency force at over 17,000 licensed agents, and has emerged as one of the top five life insurers in the country.