We understand you want the best for your child s education

Transcription

1 We understand you want the best for your child s education PRUfirst education

2 As a loving parent, you want to give your child the best education for a strong head start in life. Whether it is planning for local or overseas tertiary education, you need to start saving for the full costs of education that include living expenses for your child during those years. Be prepared for rising education costs that will continue to increase over the years. With PRUfirst education, you can ensure that your child s education funds will be in place when they are needed. You will have the assurance knowing your child is well equipped to achieve his or her fullest potential. Be prepared for education expenses PRUfirst education provides you with guaranteed Cash Benefit 1 in the last two years before your policy matures. These payouts can be used to fund your child s education, flight and living expenses. Alternatively, you have the flexibility to leave these guaranteed Cash Benefit 1 with us to enjoy annual interest 2 on the accumulated guaranteed Cash Benefit for higher returns. You will also receive your Maturity Benefit 3 in a lump sum when the policy matures.

3 Flexible policy terms that cater to your financial needs PRUfirst education comes with policy terms starting from 13 to 24 4 years, so you can choose a term that best suits your goals for your child s education needs. Choice of premium payment terms You can choose a premium payment term of 5, 10 or 15 years and save at the pace you are comfortable with. Coverage against the unforeseen PRUfirst education covers your child against death 5, Terminal Illness 5, and Total and Permanent Disability 5 during the policy term, with a lump sum payout, giving you the assurance that your child is protected as you save and plan for his or her future. Continued coverage for your child 6 PRUfirst education also allows your child to enjoy continued coverage. Your child can buy a new policy on the maturity of his or her PRUfirst education policy without the need for any medical underwriting.

4 Enhance your plan for greater coverage While you save for your child s education with PRUfirst education, you can enjoy added peace of mind by including these supplementary benefits: Early Payer Security, which waives the premium payments for a fixed period 7 upon diagnosis of Early or Intermediate Stage Medical Conditions, so that you need not worry about your loved ones losing coverage while you concentrate on your treatment. Payer Security III / Payer Security Plus safeguards your loved one s policy in the event that Death, Critical Illness or Total and Permanent Disability strikes you. Payer Security III waives the remaining premiums of your child s policy till the policy anniversary before he or she turns 25, or the end of the premium payment term, whichever is earlier. Payer Security Plus provides a longer benefit term and it waives the remaining premiums of your loved one s policy until the policy anniversary before you reach 85, or the end of premium payment term, whichever is earlier.

5 Mr Lim Age 35 next birthday, non-smoker Purchases PRUfirst education for Grace with policy term of 21 years and premium payment term of 5 years Receives guaranteed Cash Benefit 1 on the second last and last Policy Anniversary before the policy matures Also purchases a Payer Security III to waive premiums in the event of his death, Total and Permanent Disability or Critical Illness Grace Mr Lim s daughter Age 1 next birthday when Mr Lim applies for PRUfirst education Receives insurance coverage of $100,000 for death 5, Terminal Illness 5 or Total and Permanent Disability 5 Enrols for university at age 20 next birthday Receives a Maturity Benefit 3 INSURANCE COVERAGE Payer Security III waives premiums in the event of death, Total and Permanent Disability or Critical Illness. PRUfirst education provides coverage against death 5, Terminal Illness 5 or Total and Permanent Disability 5. HOW PRUfirst education WORKS Mr Lim pays an annual premium of $18, for 5 years 1st Cash Benefit of $25,000 (25% of sum assured) 2nd Cash Benefit of $25,000 (25% of sum assured) Maturity Benefit: $50,000 (50% of sum assured) + $73,318 (Non-guaranteed bonuses) at $123,318 9 GRACE S AGE NEXT BIRTHDAY (YEARS)

6 Footnotes: 1. Guaranteed Cash Benefit is 25% of the PRUfirst education sum assured payable on the second last and last Policy Anniversary before the policy matures. 2. The interest rate is not guaranteed and is subject to change according to prevailing market conditions. 3. Maturity Benefit is 50% of the PRUfirst education sum assured plus all bonuses and accumulated guaranteed Cash Benefit (if any), less any outstanding amounts owing to Prudential. Bonuses are not guaranteed and will vary according to the future performance of the participating fund. 4. The maximum expiry age is 25 years of age on next birthday. 5. A claim can be made for either Death Benefit, Accelerated Terminal Illness Benefit or Accelerated Disability Benefit. 6. This benefit is only applicable to PRUfirst education policy purchased for your child on standard terms. The sum assured for the new policy can be up to the amount equal to the sum assured of the Death Benefit in the PRUfirst education policy, increased at a compounded rate of 5% for each year you hold the PRUfirst education policy, subject to a maximum sum assured of $300,000 per life. 7. Upon diagnosis of Early or Intermediate Stage Medical Conditions, the future premiums of the covered benefits will be waived for 5 years or 10 years respectively, or the remaining premium payment term, whichever is shorter. The maximum premium waiver period is 10 years, after which the benefit terminates and premium payment for the covered benefits resumes. 8. Premium quoted consists of an annual premium of $17,783 for PRUfirst education and an annual premium of $ for Payer Security III. Annual premiums illustrated are based on a male parent, non-smoker, aged 35 next birthday purchasing PRUfirst education with a sum assured of $100,000 for his daughter aged 1 next birthday, with a 5 year premium payment term and policy term of 21 years, and a Payer Security III supplementary benefit. 9. The illustrated values use bonus rates assuming a projected investment rate of return of 4.75% per annum for the participating fund. Bonus rates are not guaranteed and will vary according to the future performance of the participating fund.

7 Note: You are recommended to read the product summary and seek advice from a qualified Prudential Financial Consultant for a financial analysis before purchasing a policy suitable to meet your needs. Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable (if any) may be less than the total premiums paid. Buying health insurance products that are not suitable for you may impact your ability to finance your future healthcare needs. Premiums for some of the supplementary benefits are not guaranteed and may be adjusted based on future claims experience. This brochure is for reference only and is not a contract of insurance. Please refer to the exact terms and conditions, specific details and exclusions applicable to these insurance products in the policy documents that can be obtained from your Prudential Financial Consultant. This brochure is for distribution in Singapore only and shall not be construed as an offer to sell or solicitation to buy or provision of any insurance product outside Singapore. In case of discrepancy between the English and Mandarin versions of this brochure, the English version shall prevail. Information is correct as at 5 October For more information, speak to your Prudential Financial Consultant. Call us at today.

8 Prudential Assurance Company Singapore (Pte) Limited. (Reg. No Z) 30 Cecil Street #30-01 Prudential Tower Singapore Tel: Fax: Part of Prudential plc