PRULifetime Income

Key Benefits:

1. Death Benefit - Beneficiaries will receive the guaranteed death benefit equal to 200% of the Sum Assured, plus any accumulated dividends and any accumulated guaranteed payouts in case of the Life Insured's death. Outstanding policy loans and interest if any will be deducted.

2. Maturity Benefit - Receive 200% of the Sum Assured plus any remaining accumulated dividends and any accumulated payouts if you reach the policy maturity date. Outstanding policy loans and interest, if any, will be deducted.

3. Guaranteed Cash Payouts - Get guaranteed payouts equal to 5% of the sum assured and is payable from the end of the 6th policy year until the plan’s maturity, as long as the Life Insured is alive during payout dates. The guaranteed payout may be left to accumulate with interest set by the Company. The payout accumulation rate is not guaranteed.

4. Accumulation of Cash Values - The policy accumulates cash value starting on the 2nd policy year. The amount of cash value depends on the policy's Sum Assured, the length of time it has been in force, and the length of the premium payment period. Policy loan may be applied from the accumulating cash values and is given once the policy is surrendered. Once the policy is surrendered, it also terminates. The insurance coverage ends and will also forfeit future guaranteed cash payouts. If your policy has available cash value, you may select any of the Non-Forfeiture Options available at any time.

5. Non-Guaranteed Dividends - Receive a portion of the Company’s 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. Dividends and dividend accumulation rates are not guaranteed.

1. Optional Riders* - Upgrade your PRULifetime Income policy with any of the following riders for a more comprehensive protection.

   1. Accidental Death and Disablement (ADD) – Receive an additional benefit amount if the life insured passes away or becomes disabled or dismembered due to an accident, up to age 73.

   2. Total and Permanent Disability (TPD) Plus - Get lump-sum cash when life insured become totally and permanently disabled for at least 6 continuous months due to a bodily injury or disease, up to age 70.

   3. Personal Accident - Get additional cash if the life insured suffers from an accident that may result to bodily injury or death, up to age 73.

   4. Life Care Plus (LCP) - Get additional benefit if the life insured  is diagnosed or has undergone surgery due to any of the 36 critical illnesses before the policy anniversary immediately following his/her 85th birthday.

   5. Hospital Income (HI)- Provides daily and lump sum cash benefits to cover the cost of hospitalization due to injury or illness of the Life Insured until age 65.

   6. Payor Waiver of Premium (PWP) - Waives the remaining premium of the base plan, TPD Plus,  ADD benefit and Personal Accident Riders if the payor dies or becomes totally and permanently disabled.  If the life insured is a minor, premiums are waived until the life insured reaches age of maturity or the payment term ends.

   7. Waiver of Premium on Total and Permanent Disability (WPTPD) – Waives future premiums of the base plan, ADD benefit and Personal Accident Riders if the life insured becomes totally and permanently disabled before age 60.

   8. Life Care Waiver (LCW) – Waives all future premiums for the base plan, ADD, TPD Plus, Personal Accident Riders and Hospital Income riders if the life insured get diagnosed or has undergone surgery due to a covered critical illness.

   Exclusion on pre-existing condition and the right to free-look period apply to LCP, HI and LCW, subject to policy terms and conditions.

2. Non-forfeiture Options (NFO) - these are options that the Policyowner selected during product application which s/he can apply when premium due is not paid within the grace period and the Policy has accumulated cash value to keep the policy in force. The following are the Non-Forfeiture options available for this plan: Extended Term Insurance, Net Surrender Value, Reduced Paid-up Insurance, or Automatic Premium Loan. Accumulated dividends and cash payouts may be included in the computation of the selected NFO and outstanding policy loans and interest (if applicable) will be deducted from any of these non-forfeiture options. 

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