This is a whole life assurance policy with a savings(investment) component
Cover Scope
Cover is for the whole of life for the policy holder
Cover Terms
The policy has flexible payment terms; whole of life; to age 50; to age 55; to age 60; to age 65.
A minimum of 20% of the total premium is allocated to the risk. This can be increased up to a maximum of 100%. 80% to the investment portion of the premium can be varied between 0 to a maximum of 80%.
In the event of death, Prudential pays 100% of the sum assured plus accrued bonuses
The risk sum assured earns a discretionary bonus (3.0%) every year the policy remains in force
On first time diagnosis of a listed illness, Prudential pays 30% of the sum assured up to a maximum of 300 million. 100% of the accumulated fund if any will be paid to the policy holder. The remaining risk premium will be waived for the remaining payment term. The death benefits are still payable when they fall due.
The investment contributions earn a discretionary 10% annual compound interest payable monthly
100% of the sum assured up to a maximum of 300 million is payable if the insured becomes impaired. 100% of the accumulated fund if any will be paid to the policy holder
The client qualifies to withdraw 100% of the accumulated fund value plus any declared interest every 3 years during the premium paying term. Policy will continue running even after withdrawal of investment premium.
Policy can only be surrendered after a minimum of 2 years of premium payment. On surrender, policy is terminated.
No, Your policy will remain active. You will be required to continue paying premiums as prescribed in your policy document.
Yes - the minimum entry age for one to take out this plan is 18 years and the maximum age is 65 years
The policy does not have a term however, one can choose to pay to throughout life up to a maximum of 100 years or up to age 50, 55, 60 and 65, respectively.
Provided your policy is still within the first two years, Prudential will allow you a grace period of up to 90 calendar days. During this period, you will continue to enjoy cover, meaning that should the insured event occur, the applicable benefits shall be paid out. After two years of premium payment, the policy will attain a value and will be a paid-up policy to extent of the premiums that have been paid. This value can always be accelerated by paying arrear premiums
After the grace period, if premiums remain unpaid for a policy that has not completed two (2), your policy shall lapse (cover/benefits are suspended). You will be given a year within which to pay arrear premiums and have the cover reinstated. After two years, as the last resort, you can surrender your policy and receive the surrender value (from the protection portion) + your investment plus accrued interest less administration fee.
Centenary Bank.
Am a service provider and I have worked with so many Insurance companies but by far “The Pru”, has proved to be very prompt when it comes to payment.
IMC General Manager.
Thank you Ritah for your kindness. You really helped me when I was stuck at Doctor's hospital Sseguku. May God reward you abundantly.
Centenary Bank.
Thank you Ritah! Thank you that you do not use automated machines, but we get to speak to people like you. We appreciate Prudential, you guys have come into the market with your new thing and it is good. Medical wise we are happy with Prudential!
Centenary Bank
Thank you, Prudential, for the birthday message, I also received messages for my dependants.
Centenary Bank
0800-200-052
customercare@prudential.ug
7th Floor, Zebra Plaza, Plot 23 Kampala Road, Kampala
Prudential Uganda is regulated by the Insurance Regulatory Authority of Uganda, whose main responsibility among others, is to ensure that insurance companies honour claims. Furthermore, Prudential Uganda is a subsidiary of Prudential plc, UK, a company that has been honouring claims for over 175 years.
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Thank you, Prudential, for your promptness on the Toll-free line and the WhatsApp group. Martha, Ritah and Elliot, thanks for the super work that you do.