Decreasing Term
Pru Decreasing term is a product
that is taken out to pay the outstanding bank obligations in the event of untimely death.
Plan Overview
Brochure
Download our brochure for Decreasing Term below.
Benefits of Life Insurance
Features
Requirements
Decreasing Term Benefits
Death Benefits
In the event of death, Prudential pays 50% on occurrence and 100% lumpsum at maturity
Key features of Life Policy – Decreasing Term
Entry age; minimum 20 years and maximum 65 years
Policy duration; minimum 5 years and maximum 25 years
General Life Insurance Frequently Asked Questions
Prudential allows one to change the nominee/beneficiaries as many times as they prefer. We also recommend that you share details of existence of your insurance policy with them, so that in the occurrence of an insured event they can claim payable benefits.
Prudential contacts the customer three months before maturity to initiate the process until the point when the payout is made to the customer’s account.
There two ways around it, you either know how much you are willing to contribute or you are convinced about how much you want after the tenure of your policy. With the above, Prudential will ably advise the eventual outcome from a cost – benefit relationship.
If you continue servicing your policy through resident bank accounts or trustees. If the insured event occurs, support documents will have to be certified to process benefit and payment is made to beneficiaries within Uganda Jurisdiction. The same applies for maturities as our policies do not allow for overseas transactions.
Terminal illness refers to all those chronic illnesses that have no known cure or have progressed to a point beyond recover. Usually the assessing team will advise what the company has classified as a terminal illness and this is based on the risk appetite the Prudential policies accommodate.
The bonus on a dollar policy is usually lower because the currency is stable compared to the shilling where Prudential strives to provide for the loss of value through higher bonus rate. This is intended to ensure that the final pay out remains relevant to your needs.
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