• Prudential Life Insurance

    The life insurance protection plans from the Prudential offer financial protection to you and your loved ones. You can choose from 10 different insurance plans as per your requirements and financial affordability. Let’s have a look at these plans:

    Types of Prudential Life Insurance

    Prudential PRUwealth: This investment-linked protection scheme offers a flexible life insurance protection up to the age of 100 years. It also offers the facility to choose your tenures as per your premium amount.

    Prudential PRUlife Partner: This is a protection plan that covers you and your partner under one life insurance scheme. The plan also offers discounts on premium and insurance charges to one partner.

    Prudential PRUlink One: It is a regular premium investment-linked insurance scheme that gives medical benefits and accident benefits, along with a protection plan.

    Prudential PRUlink Million: It is a life protection insurance plan that provides high cover of up to RM500,000 while offering investment options.

    Prudential PRUmy Child: It is an investment-linked insurance scheme that is exclusively customised for your child’s protection requirements. You can provide protection to your unborn child as early as when you are 18 weeks pregnant.

    Prudential PRUlife Ready: It is a life insurance scheme designed exclusively for youngsters. The plan offers accident and medical benefits at only RM100 per month. It also provides liberty to invest in local and global bonds, equity, and managed funds.

    Prudential PRUvantage: It is a universal life insurance plan that safeguards your money while providing you protection.

    Prudential PRUguard My Family: The plan provides full protection to you and your family and offers a guaranteed minimum annual dividend. The insurance cover continues till the time you keep paying the premiums.

    Prudential PRUterm: It is a basic term life insurance plan that provides cover for total and permanent disability (TPD) and death.

    Prudential PRUmortgage: It is a decreasing term insurance policy exclusively for the customers who have taken a home loan. If the customer dies or suffers from TPD before the age of 60, the policy will cover the customer’s outstanding mortgage loan.

    Features and Benefits of Prudential Life insurance

    • The insurance schemes offers cover on death as well as total or permanent disability (TPD).
    • Depending on the scheme, the insurance provides protection until the age of 100 years.
    • The plans also come with a range of riders for enhanced comprehensive protection.
    • Based on the scheme, you can also cover your full family under the life insurance policy.
    • Investment-linked schemes are provided through the insurance policy that offer assured returns.
    • You can also get loyalty bonus for the schemes like PRUlife ready, and PRUlink one.
    • Some of the assurance schemes also cover critical illness, and hospitalisation of the insurer.

    Prudential Assurance Malaysia Berhad Eligibility Criteria

    • Nationality criterion: Malaysian citizen or permanent resident of Malaysia.
    • Age criterion: Maximum protection age up to 100 years depending on the scheme.

    Documents required:

    • A copy of MyKad or NRIC
    • Documents for residential proof
    • Any other document as requested by the bank/insurance provider

    Prudential Assurance Malaysia Berhad Life Insurance Calculator

    You can obtain a financial analysis on the official website of the bank/insurance provider by entering your annual income, expenditure, and insurance cover. The calculator also recommends a life insurance cover value that you should invest as per your income and spending habits.

    Prudential Assurance Malaysia Berhad Life Insurance Claims

    To submit an insurance claim, you need to contact an agent from the customer service department and get the claim form. Fill in the form with accurate information and attach all the mandatory documents with it. You can refer to your doctor/physician to complete the medical report. In the final stage of claim application, submit the completed form along with attached documents to a Prudential branch or reach out to a customer care representative for any assistance.

    Prudential Assurance Malaysia Berhad Life Insurance Contact

    For any query or request regarding the Prudential Assurance, contact a representative on hotline: 03 21160228. You can also write an email on customer.mys@prudential.com.my regarding your requests and doubts about the product.

    How to Cancel Prudential Assurance Malaysia Berhad Life Insurance Policy

    You need to contact the customer service representative and follow the directions for a cancellation procedure. You require to submit a cancellation form to the Prudential branch to initiate the policy cancellation procedure.

    Prudential Assurance Malaysia Berhad FAQs

    1. Q. Can I nominate more than one person as claimants for my policy?

      A. Yes, You can nominate more than one claimants. You are required to mention the specific share (in percentages) that the claimants will receive. If you fail to mention the share, the policy fund will be distributed equally among all the nominees (for non-Muslims).

    2. Q. What happens if I lose my insurance policy documents?

      A. On loss of any document, you need to submit the Statutory Declaration Form with RM10 stamp duty. You will also require the signature from the Commissioner or Oath from your nearest branch for requesting the reprint of the document/s. For this, a Reprint Fee of RM31.80 will be charged.

    3. Q. What is an insurance policy anniversary?

      A. Policy anniversary is referred to the month when your proposal initiates to become a policy.

    4. Q. Can I choose the premium tenure for my policy?

      A. Yes. You are free to choose your policy premium tenures in monthly, quarterly, half-yearly, or yearly terms.

    5. Q. Can I reassess my policy claim?

      A. You can submit you reassessment claim to the Prudential branch with all mandatory documents as stated by the customer care representative.

    News About Prudential Life Insurance in Malaysia

    • Prudential Announces 17% Rise in Profit Growth in Life Insurance Business Unit

      Prudential announced that its life insurance business unit has recorded a 17% rise in the profit growth over the first 9 months of the year 2018. This has led to a robust performance drive in Asia said the company.

      Going into details, the company mentioned that the middle class has contributed to the profit growth and boosted the demand for insurance by 15% amounting to 1.76 billion pounds.

      It was revealed that the life insurance segment of Prudential has a market value of 42 billion pounds. The company is working towards demerging of the UK and European asset management and insurance segments.

      The new company, M&G Prudential is expected to be listed in London soon. Then, the group focuses on the other dynamic markets of Asia, such as China. The external net outflow of M&G Prudential’s asset management services was said to be 5.6 billion pounds in the first 9 months.

      BBazaar Malaysia

      14 November 2018

    • KWAP: The Highest Bidder For Prudential’s Stake

      Recently, Prudential was in search for a stakeholder who can take up 30% of the company’s stake to abide by Bank Negara Malaysia’s new policy. A new update on this news says The Retirement Fund Inc (KWAP) has emerged as the highest bidder among two other competitors for the stake of Prudential.

      Sources say that KWAP made a bid worth of RM3.7 billion to RM4 billion. However, Prudential was not happy with the bid amount, reports suggest. Therefore, Prudential is trying to persuade KWAP to bid a higher amount. The proposal is still in the negotiations stage and nothing has been finalised. Also, Prudential is suspected to be looking for other possible options such as initial public offering (IPO).

      In another instance, KWAP and EPF are trying to buy a stake in Singapore’s Great Eastern Holdings Ltd. However, the progress of this proposal is not disclosed as of yet.

      Some of the other 10 foreign insurers are also looking for options to sell their stakes. One among them, Tokio Marine Holdings is supposed to be considering both IPO and stake-disposal options to fulfil the policy requirement.

      BBazaar Malaysia

      30 May 2018

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