Your hope for your child begins even before birth. Let PRUmy child protect this hope of yours, from the very beginning.
Even before he or she is born, hope is there - hope that he or she will always be happy, safe and healthy. This hope is precious and worth protecting from the start.
At Prudential, we can help you secure your hopes and dreams for your child through a comprehensive protection plan withPRUmy child as early as 18 weeks into pregnancy.
Aiming to give you peace of mind, the new Infant Care benefit under PRUmy child provides protection during the crucial prenatal, neonatal and post-PRUmy child benefits at a glance
- Gives you control and flexibility to design a complete plan for your child.
- Covers your baby as early as 18 weeks into pregnancy.
- Option to attach Infant Care* rider to enhance your baby's protection from 18 weeks of your pregnancy up to your child reaching 2 years old.
- Build your child's education fund with optional PRUedusaver and PRUsaver kid riders.
ENHANCE your child’s plan with a NEW & EXTENDED range of covers
Aiming to give you peace of mind when it comes to your child’s needs, the new Infant Care* benefit under this plan offers your child protection during the crucial pregnancy and infancy periods under the Pregnancy Care Benefit and Child Care Benefit.
* Optional benefit subject to underwriting and additional premiums for 2 years and purchased within 18 to 35 gestational weeks.
Planting the seeds towards a SECURE EDUCATION FUND for your child
Will you be prepared when your child is ready for higher education? With PRUsaver kid or PRUedusaver, you can start building your child’s education fund and reap the potential of higher returns through our series ofPRUlink or PRUlink education funds. You can opt to receive the payout for your child’s education when they are entering higher tertiary institution anytime between the age of 18 – 25 years next birthday.
natal periods. What is PRUmy child and who can buy this plan?
PRUmy child is a regular premium investment-linked insurance plan. You can buy this plan for your unborn child at 18 weeks into your pregnancy, or for your child who is between 1 to 18 years of age on his/her next birthday.
What are the benefits of PRUmy child?
Should the unfortunate happen to your child:
| What is payable: |
|---|---|
Death before birth and up to 30 days from birth
|
i) Total premiums paid minus any withdrawals from value of units, or
ii) Total value of units in the policy.
Whichever is higher.
|
| Death after 30 days from birth | Sum assured plus total value of units in the policy. Juvenile Lien applies. |
| Total and Permanent Disability (TPD) before age 70 |
Sum assured will be payable. Juvenile Lien applies.
(please refer to the policy document or sales illustration for the definitions, terms and conditions of TPD)
|
Juvenile Lien: In the event of death, critical illness or TPD before age 5 next birthday (n.b.), the proportion of the basic sum assured paid is at age 1 n.b.: 20%, age 2 n.b.: 40%, age 3 n.b.: 60%, age 4 n.b.: 80%, age 5 n.b.: 100%.
Upon surrender of the plan
Value of units in the account at the point of surrender.
Upon maturity of the plan
Value of all units in the policy is payable when your child reaches the age of 100 years on his next birthday.
Enjoy loyalty bonus
You will receive a Loyalty Bonus of 5% of annualised premium (excluding premiums for top-ups andPRUedusaver / PRUsaver kid / PRUsaver) upon completion of the 10th policy year and every 3 years thereafter provided you have paid your premium on a timely basis.
(please refer to the policy document or sales illustration for the terms and conditions of Loyalty Bonus)
How much premium do I need to pay and for how long?
Minimum premium per year
| |
PRUmy child
|
RM600 (subject to underwriting)
|
PRUsaver kid
|
RM120
|
PRUedusaver
|
RM600 (subject to a maximum of 5 times the premium of the basic PRUmy child plan)
|
Note: You can only choose either PRUsaver kid or PRUedusaver at point of purchase. Please refer to the sales illustration for the premium allocation.
Premium is payable throughout the whole policy term until the expiry of the policy. Upon expiry of any optional benefits, the premiums will be reduced accordingly. Premiums can be paid yearly, half-yearly. quarterly or monthly via auto debit, credit card, cash or cheque.
Where are my funds invested?
You can choose to invest in any of the PRUlink and/or PRUlink global series of funds. If PRUedusaver is attached, you are only allowed to invest in the PRUlink education funds as determined by us.
Planting the seeds towards a secure education fund for your child
Will you be prepared when your child is ready for higher education?
With PRUsaver kid or PRUedusaver, you can start building your child’s education fund and reap the potential of higher returns through our series of PRUlink or PRUlink education funds. You can opt to receive the payout for your child’s education when he is entering higher tertiary institution anytime between the ages of 18 to 25 years next birthday.PRUsaver kid is primarily for capital appreciation, where you have the FLEXIBILITY to choose the funds you wish to invest in within our series of PRUlink funds. You also have the flexibility to change the funds you invested in from time to time as you and your child’s aspirations change. The return depends on the performance of the funds you selected and therefore, the returns are not guaranteed.
PRUedusaver1 comes with a minimum capital guarantee in the form of ANNUAL GUARANTEE INCOME2. Premiums paid will be invested in the PRUlink education equity fund and the PRUlink education bond fund in specified proportions determined by the company during the accumulation period following the table below. It will be adjusted to a more secure asset mix for each premium payment as your child approaches the age for higher tertiary education.
During Payout Period
Your child’s education fund will be invested into the PRUlink education income fund, by investing in selected fixed interest securities, corporate bonds, money market instruments and any other financial instruments.
1 Must be attached prior to the first policy anniversary.
2Provided that premiums are paid in full during the accumulation period and no withdrawals have been made during the accumulation and payout periods of PRUedusaver.
HOW DO I START BUILDING MY CHILD’S EDUCATION FUND?
You can attach either PRUsaver kid or PRUedusaver where the premiums will be invested in our series ofPRUlink or PRUlink education funds. In addition, you can also make one-off investments via Top-up onPRUsaver kid or Education Top-up on PRUedusaver. The allocation rate for Top-up and Education Top-up is 95%.
Note: If you attach PRUedusaver, the Education Top-up must be paid at least 5 years (60 months) before the Payout Period and all premiums must be up-to-date. The minimum amount for top-ups is RM1,000. There is no maximum amount.
HOW DOES PRUedusaver WORK?
Step 1:
First determine how much you need to grow your child’s education fund. You have the flexibility to choose the period of time you pay your premiums and the duration to receive the Annual Guaranteed Income during the payout period*.
Step 2:
Determine when your child will need the education income and for how long they will need it. You can choose to receive the Annual Guaranteed Income for either 3, 4 or 5 years (which is between your child’s age of 18 to 25 years next birthday).
Step 3:
Depending on the Payout Period selected, the amount of payout you will receive each year will be a percentage Payout Rate (as shown in the table below) of your child’s PRUedusaver fund value at the end of the Accumulation Period or total PRUedusaver premium including any Education Top-ups you have paid whichever is higher**. Any remaining fund at the end of the Payout Period will continue to be invested into thePRUlink education income fund.
Note: Changes to the accumulation and payout periods can only be made once during the accumulation period.
Payout Period
| |||
Years
|
3
|
4
|
5
|
Payout Rate
|
34%
|
26%
|
21%
|
Total Payout Rate
|
102%
|
104%
|
105%
|
* Payout period has to be determined at policy inception.
** Please refer to the Sales Illustration for terms & conditions on the Annual Guaranteed Income. Annual Guaranteed Income is received provided that premiums have been paid in full during the accumulation period and no withdrawals have been made during the accumulation and payout periods ofPRUedusaver.
1The above illustration is based on a 1-year-old, male, non-smoker with monthly PRUedusaver premium of RM200, accumulation period of 17 years and payout period of 5 years. The projected values are for illustrative purposes only. They are neither guaranteed nor based on past performance. The projected values assume current law, tax and prescribed investment returns (per annum), which are based on the weighted average of the current prescribed projected rates for investment-linked insurance policies. The projected remaining fund values also assume that there are no other flexible withdrawals done during the whole policy duration.
In this example, the regular premium is invested in the PRUlink education equity fund and the PRUlink education bond fund at policy inception. The premium direction into the PRUlink education equity fund and thePRUlink education bond fund will be revised according to the remaining term of the accumulation period. Once the policy is in the payout period, the fund will be invested in the PRUlink education income fund.
HOW MUCH PREMIUM DO I NEED TO PAY?
Rider
|
Minimum premium per year
|
PRUsaver kid
|
RM120
|
PRUedusaver
|
RM600 (subject to 5 times the premium of the basic PRUmy child plan)
|
Note: PRUsaver kid and PRUedusaver cannot co-exist within the same plan.
PREMIUM ALLOCATION
Your premium paid is allocated to buy units in the PRUlink or PRUlink education funds. 95% of the premium will be invested into the funds.
Upon expiry of PRUsaver kid or the end of the accumulation period of PRUedusaver, premiums will be continued and allocated as PRUsaver premiums. You may also inform the Company should you decide not to continue with the premium payment for PRUsaver.
Is PRUmy child ELIGIBLE FOR TAX RELIEF?
During childhood
|
As a parent, you should be entitled to education tax relief on premiums paid for PRUedusaver, PRUsaver kid or Parent Payor.
|
During adulthood
(Above age 25 at next birthday)
|
Your child will be entitled to life / medical tax relief upon transfer of ownership.
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