Knowing the key risks associated with such insurance plan is important. Below are the key risks(non-exhaustive)associated with this plan:

a. If the Life Assured dies from suicide or a Pre-existing Condition within 12 months from the Cover Start Date of this policy or from the date of reinstatement (if any), Prudential Assurance Company Singapore (Pte) Limited (“Prudential”) will  refund you the total premiums it has received less any loans and outstanding amounts owing to it and expenses incurred by it, in connection with your policy, and your policy will terminate.

b. As buying a life insurance policy is a long term commitment, an early termination of the policy usually involves high costs and the total surrender value (both guaranteed and non-guaranteed) that is payable to you may be zero or less than the total premiums paid
(i) For regular premium payment term: The guaranteed surrender value, if any, that is payable to you may also be zero or less than the total premiums paid. The policy acquires a surrender value only after 36 months from the first premium due date and after premiums has been paid for 36 months.
(ii) For single premium payment term: This policy acquires an immediate surrender value upon receipt by Prudential and inception of the single premium paid.

c. Any withdrawal from this policy is a partial surrender and must be requested by you. Upon partial surrender of this policy, a surrender value will be paid out to you. This policy’s remaining Face Value will be reduced and the remaining bonuses will be pro-rated.

d. The cash value of this policy is dependent on the future performance of Prudential’s underlying funds. It may be lower than projected for various reasons such as the future investment outlook of the participating fund, claims experience and expenses incurred by or allocated to the participating fund. Past performance is not an indication of current or future performance.

e. This policy is a life insurance plan. It is not a savings account or fixed deposit, nor is it associated with any bank account or fixed deposit. This document does not constitute a contract of insurance and reference should be made to the respective policy documents for the exact terms and conditions applicable to this life insurance policy.

f. The retrenchment benefit under this policy will be paid during the premium payment term (for Regular Premium policies) and during the first 5 policy years (for Single Premium and SRS policies) and prior to the policy anniversary immediately before the policy owner turns 65 years old. This benefit will only be paid if the retrenchment occurs after 90 days from policy issuance date or date of reinstatement (if any) of the policy, whichever is later, and policy owner remains unemployed for a minimum of 30 consecutive days from the date of retrenchment. The retrenchment benefit payout amount is 50% of the annualised premium regardless of the premium payment term (for Regular Premium policies) and 10% of the single premium (for Single Premium and SRS policies), as at the date of retrenchment. This benefit can only be paid once and the benefit ends upon payment of claim. If the policy has joint owners, this benefit will apply to both owners, but can only be paid once. If the policy is assigned to a corporation (e.g. assigning the policy to a bank as collateral for premium financing) or an individual, this benefit will end.

¹ Any withdrawal from a PRUWealth Plus (SGD) policy is a partial surrender and must be requested by the customer. Any partial surrender will result in a reduction in the long-term value of the policy. If the policy is surrendered, the surrender value payable (if any) may be less than the total premiums paid.

² Bonuses are not guaranteed and will vary according to the future performance of the participating fund.

³ Policy matures on the policy anniversary just before original primary life assured turns 130 years old.

⁴ For single premium plans, you can choose to pay with cash or your Supplementary Retirement Scheme (SRS) funds.

⁵ Capital guarantee is after 10th year only if you purchased a PRUWealth Plus (SGD) policy of single premium payment term. For a policy of 5 years and 10 years premium payment term on an annual premium payment mode, the capital guarantee is after the 15th year and the 18th year respectively. For a policy of 15 years and 20 years premium payment term on an annual premium payment mode, the capital guarantee is after the 19th year. This is also provided there has not been any policy alterations such as partial surrender since inception. Please refer to the Policy Illustration for more details.

⁶ Not applicable for single premium policy paid via SRS funds. Appointment of secondary life assured is restricted to the policy owner’s immediate family members and is subject to acceptance by Prudential.

⁷ Not applicable for single premium policy paid via SRS funds. Change of life assured is subject to insurable interest with original policy owner(s). For regular premium policy, you can choose to change the life assured to another life assured only after the premium payment term of the policy. For single premium policy paid using cash, you can only choose to change the life assured after 2 years from the cover start date of the policy. Cover end date of the policy will remain unchanged when there is a change in life assured  (i.e. policy will mature on the policy anniversary just before the original primary life assured turns 130 years old). Other terms and conditions apply, please refer to product summary for more details.

⁸ Upon the death of the primary life assured, the policy continues with cover on the life of the appointed secondary life assured instead, and no death benefit will be payable. Any supplementary benefits attached will be terminated upon the death of the primary life assured. There will be no changes to the original premium payment term or policy term, and premium payment for the policy continues (if applicable). Not applicable for single premium policy paid via SRS funds.