PRUSteady Income

1. Death Benefit – Your beneficiaries will receive the guaranteed death benefit equal to 200% of the sum assured, plus any accumulated guaranteed payouts in case of your demise. Outstanding policy loans and interest, if any, will be deducted.

2. Maturity Benefit – You will receive 100% of the sum assured plus any accumulated payouts if you are alive by the policy maturity date. Outstanding policy loans and interest, if any, will be deducted.

3. Guaranteed Cash Payouts - You will get guaranteed payouts equal to 10% of the sum assured and payable from the end of the 11th policy year until the plan’s maturity, as long as you are alive during payout dates.
   
   This may be reduced by any outstanding policy loans and accrued interest.
   
   The guaranteed payout may be left to accumulate with interest at a rate set by the Company. The payout accumulation rate is not guaranteed.

4. Accumulation of Cash Values - Your policy accumulates cash value starting on the 2nd policy year. The amount of cash value depends on your policy's sum assured, the length of time it has been in force, and the length of the premium payment period.

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

   a) 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 or until policy maturity, whichever is earlier.

    

   b) Total and Permanent Disability (TPD) Plus - Get lump-sum cash when the life insured becomes totally and permanently disabled for at least 6 continuous months due to a bodily injury or disease, up to age 70 or until policy maturity, whichever is earlier.

    

   c) 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 or until policy maturity, whichever is earlier.

    

   d) 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 or until policy maturity, whichever is earlier.

   
   e) 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 insured reaches age of maturity or until the payment term ends.
   
   f)  Waiver of Premium on Total and Permanent Disability (WPTPD) – Waives future premiums the base plan, ADD benefit and Personal Accident Riders if the life insured becomes totally and permanently disabled before age 60 or until the end of the payment term.
   
   g) 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 gets 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) - If you miss a premium payment within the grace period and your policy has built-up cash value, you can choose from these options to keep your coverage active:

   • Extended Term Insurance – Use your policy’s cash value to extend coverage as a term insurance.

   • Net Surrender Value – Receive the remaining cash value, and your plan terminates.

   • Reduced Paid-up Insurance – Continue your policy without further premiums to a smaller, fully paid-up plan.

   • Automatic Premium Loan (APL) – Use your policy’s cash value to automatically pay premiums. Premiums paid by the cash value are treated as loans which incur interest.
     
     

If no NFO is selected during application, APL will be automatically applied as the default NFO.

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