As exciting as it is to build a family, the role of breadwinner is not to be taken lightly. More so if you’re the sole breadwinner in your family.
As any parent knows, financial responsibilities are many and varied. From funding your kids’ higher education abroad to paying for your home and caring for elderly parents, financially providing for the long-term stability and security of your family is a lifelong commitment.
There’s also the need to build a nest egg so you can retire comfortably later in life with peace of mind and free from financial constraints.
But life is unpredictable and the best of plans can go awry with your sudden death. The immediate loss of income as a result of your death can rattle even the most level-headed.
It has been reported that only 3.5 out of 10 Malaysians have some form of life insurance as a means of protection. For the rest, the sudden death of a breadwinner may spell certain financial doom.
Younger Malaysians aren’t spared either. Although it can be assumed that newly married couples have lesser financial commitments, the need to be financially prepared is real when planning to raise a family or purchase a home for the family, both costly affairs.
Created to cushion the blow from the sudden loss of income due to death or Total and Permanent Disability, PRUWealth Plus is a life insurance plan that helps a breadwinner leave a legacy of financial security and protection to his or her loved ones.
It is essentially an investment-linked insurance plan that provides high coverage, in fact up to four times greater protection*, with solutions customised to your needs.
Here are the top five benefits
1. High coverage – from a minimum basic sum assured of RM500,000.
2. Up to four times death coverage amount – provides higher coverage upon accidental death* when you need it most.
* Terms and Conditions apply
3. Flexible and affordable premiums – planning for your family’s financial future is a breeze because you can enjoy the flexibility to choose a premium that best suits your financial capability.
4. Extra coverage on 14 types of infectious disease
A fixed amount of RM5,000 shall be payable for each diagnosis of infectious disease under Category A and RM10,000 for each hospitalisation of infectious disease in Category B accordingly that happens before the Policy Anniversary of age 70 or expiry of the policy, whichever is earlier.
Each infectious disease under category A and B are only payable once.
5. Loyalty rewards along the way
PRUWealth Plus rewards you for your loyalty. After the ninth year of your policy, you will receive a loyalty bonus of RM100 for every RM100,000 of your basic sum assured once every two years. This will be credited into your policy, so you have more to invest.
A further one-off Loyalty Booster of RM8,000 for every RM100,000 of your basic sum assured will all be credited to your policy when you reach either 70, 80 or 90 years old (depending on the age in which you signed up for the plan).
PRUWealth Plus solutions
The following two insurance solutions use PRUWealth Plus as its basic plan.
1. PRUBest Gift: This insurance solution is best summed up as a gift of love across generations. Why? Because it protects your little ones when they’re as young as 30 days old by providing insurance protection for critical illness and/or riders. It also functions as a long-term investment plan so these very same ones can realise their dreams when they’re older.
Your child has several options when he or she becomes the policy owner.
(i) Keep the policy and enjoy coverage against critical illness with the high sum assured coverage;
(ii) Use the accumulated cash value** to achieve his or her own life goals; or
(iii) Keep the policy for continued coverage*** and nominate the policy to his or her loved ones to receive the policy money should any unfortunate events happen.
**Partial withdrawal from Basic Unit Account will reduce the Basic Sum Assured of the policy.
***Subject to the policy having sufficient cash value to cover all policy charges.
2. PRUProtect Xtra: PRUProtect Xtra is a legacy solution. Now you can leave a fair amount of inheritance to your loved ones while your liabilities are taken care of should an unfortunate event occur.
In this way, you know your family is sheltered from having to fork out money to settle your debts after you’re gone.
Example: Adam has RM500,000 worth of debts to be paid off in 20 years. He purchases PRUProtect Xtra to ensure his family and debts are well taken care of in the event of his death.
Although life is unpredictable, planning for your family’s protection doesn’t have to be. It can be made easy, beneficial and systematic with the financial solutions of PRUWealth Plus.
To get started on the road to leaving a legacy to protect your family’s future, click on the links below to discover peace of mind like never before.