Filipino parents always strive to give their children the best, from essential nutrition to quality education. However, the dream of building generational wealth and securing a stable financial future often seems out of reach due to daily expenses.
Pru Life UK addresses this challenge by introducing PRULifetime Income, a traditional insurance product designed to empower parents to secure their children’s financial futures.
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Building Passive Income
Passive income is essential for achieving financial security. By generating income from multiple sources, families can save for life goals and be prepared for emergencies. PRULifetime Income provides a guaranteed annual payout of 5% of the policy’s coverage, offering a reliable source of passive income.
Starting after the 6th policy year, these payouts continue for life or until age 100, regardless of market conditions. For instance, if parents of a 10-year-old child purchase a PRULifetime Income plan with a coverage amount of PHP 2 million, payable over 10 years, it will provide an accumulated payout of PHP 900,000 by the time the child turns 24. This payout is guaranteed, no matter the economic climate.
These payouts can fund education, passion projects, or even a down payment for a car or house. With lifetime payouts, this passive income can benefit the child well into retirement.
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Double Protection for Future Generations
PRULifetime Income offers 200% insurance coverage, ensuring double protection for future generations. This feature provides a financial safety net that could leave a legacy of PHP 4 million, based on the earlier example.
Additionally, PRULifetime Income allows policyholders to enhance coverage with options like Total and Permanent Disability Plus (TPD+), Accidental Death and Disablement (ADD), Personal Accident (PA), and Waiver of Premium on Total and Permanent Disability (WPTPD). These riders offer additional protection, ensuring families are well-covered against various risks.
Supporting Filipino Families’ Financial Goals
“Many Filipinos seek regular income streams to pursue their life goals without the concern of financial instability. Pru Life UK aims to accelerate value creation for customers by offering diverse financial products and solutions tailored to their evolving needs at every life stage. PRULifetime Income guarantees lifelong payouts and double insurance coverage, aiding customers in achieving financial security,” emphasizes Allan Tumbaga, Pru Life UK EVP and Chief Customer & Marketing Officer.
As a trusted protector and partner, Pru Life UK is committed to meeting customer needs and providing relevant financial solutions through its over 38,000 digitally empowered agents. This dedication highlights Pru Life UK’s promise to ensure lifelong financial security for many Filipino families.
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