HomeProtectUniversal Life Insurance PRU-MAX PROTECT
Pru - Max Protect

Universal life insurance product PRU - MAX PROTECT

Features

Multi-tiered protection with Main Product Benefít up to 100% Sum Assurred + Policy Account Value and optional enhanced protection benefít at a reasonable cost

Multi-tiered protection

with Main Product Benefits up to 100% Sum Assurred + Policy Account Value and optional enhanced protection benefits at a reasonable cost

Sustainable wealth accumulation with guaranteed interest rates and attractive bonuses

Sustainable wealth accumulation

with guaranteed interest rates and attractive bonuses

Proactive financial goal implementation with diverse flexible benefits

Proactive financial goal implementation

with diverse flexible benefits

Product Details

Entry Age Expired age Policy term Payment term
30 days - 70 years old 100 years old 100 minus entry age Equal to policy term, flexibilty in payment from policy year 5

Main Benefits

Benefit Detail
Death Benefit/ Total Permanent Disability (TPD) Benefit

Optional, customer can choose insurance BASIC PLAN or ADVANCED PLAN:

1. Death or TPD Benefit if choosing Basic Plan:

  1. The greater of the value between the Sum Assured (SA) and the Target Premium Account Value; and
  2. Excess Premium Account Value, if any

2. Death or TPD Benefit if choosing Advanced Plan

  1. Sum Assured plus Target Premium Account Value; and
  2. Excess Premium Account Value, if any.
Investment Benefit

1. Investment Benefit results from Universal Life Fund

The Policy Account Value will be credited monthly interest at the crediting interest rate announced by Prudential but in any case, not lower than the minimum guaranteed interest rate

2. Maturity Benefit

Upon Policy Maturity Date, if the Policy is still in-force and LA is alive, Prudential will make a one-time payment to the Policyholder 100% Policy Account Value (Target Premium Account plus Excess Premium Account) after deduction of the Debt(s), if any.
Other Bonus Benefits to increase Policy Account Value

Increasing Policy Account Value with Attractive Bonuses

1. Loyalty bonus: the first payment is on the 10th Policy Anniversary and every 5 years thereafter until the day before the Policy Maturity Date as follow:

  1. 150% of the annual Target Premium of the first Policy Year will be added to the Target Premium Account Value on the 10th Policy Year Anniversary. The review period is the first 10 consecutive years starting from the Policy Effective Date till the first loyalty bonus payment date.
  2. 75% of the annual Target Premium of the first Policy Year will be added to the Target Premium Account Value on the 15th Policy Year Anniversary and every 5 years thereafter.

2. Retention bonus: wil be paid respectively to the Policy Account Value (Target Premium Account or Excess Premium Account).

  1. Starting from 20th Policy Year anniversary and every 5 years thereafter, 4% of the average Policy Account Value will be payable in the previous 60 consecutive month. The Insurance Policy is still in-force at the time of this benefit payment.
Increase SA without underwriting

The Policyholder may request an increase in the Sum Assured without undergoing medical underwriting within 90 days of the occurrence of any of the following events:

  1. The Life Assured’s marriage; or
  2. The Life Assured’s having a baby or adopting a child; or
  3. The Life Assured’s child joining school including primary school, secondary school, high school, or university.

The Guaranteed Increase in Sum Assured can be exercised up to 2 times during the in-force period of the Insurance Policy, with each increase not exceeding (i) VND 500,000,000, or (ii) 50% of the Sum Assured at the time the Insurance Policy was issued, whichever is lower.

The increased Sum Assured will take effect on the Policy Anniversary Date following Prudential's approval of the Policyholder's request, and the Target Premium and Cost of Insurance will be adjusted accordingly.

Note:

All product features and insurance benefits listed in this document are only for summary purposes and are for reference only. All corresponding benefits and conditions will be implemented in accordance with the provisions of the Insurance Terms and Conditions approved by Prudential.

Exclusions

Exclusions on Death claims
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Prudential will not pay the Death Benefit if the Life Assured (LA) dies due to any of the following reasons, whether directly or indirectly:

  1. For the Sum Assured at the time of issuance of the Insurance Policy, the Life Assured commits suicide or self-injury, whether in a normal mental state or insane, within 02 years from the date that the Policyholder pays first Target premium or the latest Reinstatement Date of this Policy, whichever comes later.
    For the increase in the Sum Assured, exclusion due to suicide or self-injury, whether in normal mental state or insane as prescribed in this Article shall apply within 02 years from the effective date of the increase in the Sum Assured or the lastest Reinstatement Date of this Policy, whichever comes later; or
  2. Due to the intentional fault of the Policyholder or the Beneficiary, except as provided in Term & Conditons (T&C) Article 2.3; or
  3. Due to the offence (as concluded by the competent authority) of the Policyholder and/or the Beneficiary against the Life Assured, except for the case specified in Article 2.3; or
  4. The Life Assured is executed by death penalty; or
  5. The Life Assured has HIV infection, AIDS or HIV/AIDS-related diseases, except in the case of HIV infection or AIDS as a result of HIV infection while performing duties at work as a health worker or police officer; or;
  6. The Life Assured uses any addictive substances, narcotics, stimulant that violates the law or without a Doctor's prescription.

Prudential will not pay TPD Benefit if the LA's TPD status:

  1. Has occurred prior to the Risk Commencement Date of this Policy or the latest Reinstatement Date of this Policy, whichever comes later, for the Sum Assured at the Risk Commencement Date of the Policy. For the increase in the Sum Assured, the exclusion provided for in this Article shall apply in case the Life Assured's TPD status has occurred prior to the effective date of the increase in the Sum Assured or before the latest Reinstatement Date of this Policy, whichever comes later; or
  2. Due to any of the following reasons, whether directly or indirectly:
    • The Life Assured attempts suicide, fails to commit suicide or self-injury resulting in TPD, whether in a normal mental state or insane; or
    • Due to the intentional fault of the Life Assured and/or the Policyholder and/or the Beneficiary, except as provided in Article 2.3; or.
    • Due to the offence (as concluded by the competent authority) committed by the Policyholder and/or the Life Assured and/or the Beneficiary, except as provided in Article 2.3; or
    • The Life Assured's participation in aviation activities, except as a passenger on civil flights; or
    • The Life Assured uses any addictive substances, narcotics, stimulant that violates the law or without a Doctor's prescription.

The Terms & Conditions herein are for reference only. Details of the terms of the Insurance Contract are specified in the Terms & Conditions of the product.

Reference

1. Terms and Conditions, click here.

2. Brochure, click here.

3. Benefit Illustration, click here.

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