Pru Life UK unveils Future Safe rider and PRULink Global Market Navigator Fund
British life insurance company Pru Life UK, a subsidiary of international financial services group Prudential plc, has introduced its latest offering, Future Safe Rider, and is also set to launch its PRULink Global Market Navigator Fund. The new solutions are in line with the life insurance company’s commitment to support the evolving wealth needs of its customers and partner with them on their financial wellness journey.
Future Safe Rider is a supplementary benefit that policyowners can attach to their policies to increase their original amount of coverage. The benefit provides a guaranteed 5% increase of the base amount, compounded annually, until it reaches the maximum of 50%. It is the only supplementary benefit in the market that allows policyowners to receive the cash at the age of 90.
Future Safe Rider is applicable to newly issued insuravest, or investment-linked life insurance, policies of Pru Life UK.
“Future Safe Rider will protect your insurance coverage against changes in the economic environment, helping ensure that your coverage today will be adequate in the coming years even if the costs of living increase due to inflation,” said Pru Life UK President and Chief Executive Officer Antonio De Rosas. “It is your insurance for your insurance.”
Pru Life UK is also set to launch the PRULink Global Market Navigator Fund, a multi-asset fund that offers a higher return potential by investing in a diversified mix of equities, emerging and high-yield bonds, as well as alternative assets from different regions and sectors. The fund provides global investment opportunities to achieve investment growth and is designed for investors looking for medium- to long-term capital appreciation.
The peso-denominated PRULink Global Market Navigator Fund is the company’s first multi-asset fund and is managed by Eastspring Investments, the Asian asset management business of Prudential plc. Eastspring has been managing the underlying funds of Pru Life UK’s investment-linked life insurance since they were pioneered in the Philippines in 2002.
Eastspring Investments is one of Asia’s leading retail asset managers with USD 193 billion in assets under management (as at 31 December 2018) and was recognized as Asia Fund House of the Year at the AsianInvestor Asset Management Awards thrice in the past four years.
“The PRULink Global Market Navigator Fund will empower policyowners to capitalize on global market opportunities. With its high diversification and lower volatility, combined with the expert management of Eastspring, the fund offers policyowners the opportunity to enjoy higher returns that will help them achieve their financial goals,” said De Rosas.
Pru Life UK’s latest product offerings underscore the company’s legacy of over 20 years. In 1996, the Insurance Commission granted Pru Life UK a license to operate and sell life insurance in the Philippines. Since then, Pru Life UK has emerged as one of the top three life insurers in the country.
Pru Life UK’s headquarters is located in Uptown Bonifacio, Taguig City.