Are you looking for a savings plan that can help you build wealth and provide financial protection for your loved ones? The PRUWealth Plus (SGD) might be the right choice for you. This participating endowment plan is designed to help you grow your wealth until you reach 130 years old. Let’s take a closer look at the features and benefits of this plan.

Flexible Premium Payment Terms

One of the great things about the PRUWealth Plus (SGD) is that you have flexible premium payment options. You can choose to make a single lump-sum payment or spread your payments over 5, 10, 15, or 20 years. If you choose the regular premium option, you can pay monthly, quarterly, half-yearly, or yearly. And if you have a Supplementary Retirement Scheme (SRS) fund, you can even use that to purchase the policy with a single premium payment.

Protection in Case of Death or Accidental Death

With the PRUWealth Plus (SGD), you can have peace of mind knowing that your loved ones will be financially protected in case of your death or accidental death. The Death Benefit will be determined based on the total premiums paid for the basic policy up to the time of death, minus any surrendered bonuses. And if the death is due to an accident, the payout will be higher. The policy also offers a Capital Guarantee, which ensures the return of the initial invested amount.

Maturity Benefit

When the policy reaches its maturity date, you will receive a lump sum payout, which will be between 187.62% to 871.57% of the Face Value of the policy, depending on various factors. This payout will include all the bonuses added to the policy over time. However, any outstanding amounts owed to the policy will reduce the maturity benefit amount.

Optional Riders for Added Protection

The PRUWealth Plus (SGD) also offers optional add-on riders for additional protection. The Early Stage Crisis Waiver provides premium waivers for a specified period upon the diagnosis of early-stage critical illness conditions. The Crisis Waiver III offers a waiver of premiums upon the diagnosis of any one of the 35 critical illnesses approved by Prudential. And the Payer Security Plus rider protects your loved ones from premium payments in the event of death, total and permanent disability, or critical illness.

Fund Performance and Expenses

The PRUWealth Plus (SGD) invests the money collected from policyholders into sub-fund units to generate returns and grow the pool’s value over time. While investments come with inherent risks, the fund has performed well in the past, consistently making higher returns than other insurers. The fund also manages its expenses effectively, with a Total Expense Ratio that is lower than the industry average.

Is PRUWealth Plus (SGD) the Right Choice for You?

The PRUWealth Plus (SGD) is a good savings plan that can help you grow your wealth and provide financial protection for your loved ones. It offers flexible premium payment terms, protection in case of death or accidental death, a maturity benefit, and optional riders for added protection. The fund has a strong performance history and manages its expenses effectively. However, it’s important to consider your own financial goals, risk tolerance, and budget before deciding if this plan is right for you. Consulting with a trusted financial advisor can help you make an informed decision.

In conclusion, the PRUWealth Plus (SGD) is a solid savings plan that offers both wealth-building and financial protection benefits. It’s worth considering if you’re looking for a plan that can help you achieve your long-term savings goals. To stay up to date with more insights and tips on financial planning, subscribe to FMS Financial Insights, our weekly newsletter. Take control of your financial future today!

Benjamin Low
Benjamin Low

Benjamin is known as The Passive Income Guy. He has helped hundreds of people to build passive income. He is also a member of the Million Dollar Round Table, and Certified Financial Planner™ (CFP®) and Certified Private Banker (CPB).

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