Retirement Insurance

Summary of Prudential Retirement Plans

Prudential was founded in 1848 in the United Kingdom. By 1914, one in three british households had an insurance policy with Prudential. Fast forward till today, Prudential has grown rapidly across the globe. Prudential has become a trusted name in the Singapore insurance industry.  Prudential Singapore is one of the market leaders in their savings and whole life plans with more than $30 billion funds under management as of 2016. 

What is a retirement plan / private annuity plan?

Retirement plans payout a stable consistent stream of income to you in your golden years upon a chosen retirement age, providing financial stability as you enjoy retirement. CPF Life will supplement your income during your retirement and support with basic living needs.

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Here are the details of Prudential Retirement products:

Comparison of Prudential retirement products:

PolicyPal’s Review of PRUActive Retirement, PRUGolden Retirement and PRUGolden Retirement Premier:

PRUActive Retirement

PRUActive Retirement ensures you with guaranteed income together with a non-guaranteed payout that can potentially increase year-on-year. This will help fight inflation for you to enjoy your retirement. If you are diagnosed with a disability due to an accident you will be granted a premium waiver and additional monthly income. 

However, PRUActive Retirement also has its shortcomings. This plan does not provide any payouts in the event of death but would transfer the policy to your appointed spouse. As there are other retirement products that provide payout upon death, you should consider which type of emergency benefits suits you and your family.

Good for: Individuals looking for retirement monthly payout that increases yearly.

PRUGolden Retirement

PRUGolden Retirement provides you with stable income over a period of 10, 15 or 20 years.

Similar to PRUActive Retirement, PRUGolden Retirement ensures you with premium waiver upon accidental disability and the option to transfer this policy to your appointed spouse in an event of death before policy expiration. Application for PRUGolden Retirement is also hassle-free without any medical assessment.

However, this plan too has its limitations. The payout period and age of 10, 15 or 20 years from age 60 or 65 is limited as compared to PRUActive Retirement. There is also no additional coverage for Death or TPD which can be found in other retirement policies.

Good for: Individuals looking for hassle-free application and stable income upon retirement.

PRUGolden Retirement Premier

PRUGolden Retirement Premier, as the name suggests, is a premium version of PRUGolden Retirement. The benefits provided are similar except for the following. PRUGolden Retirement Premier provides you with an option to receive a death payout in an event of insurer’s death during policy term. Furthermore, this policy supports payment using SRS funds, which can lower the cost of your cash premium payment.

However, PRUGolden Retirement Premier. The payout period and age of 10, 15 or 20 years from age 60 or 65 is limited as compared to PRUActive Retirement. There is also no additional coverage for Death or TPD which can be found in other retirement policies.

Good for: Individuals looking to maximise their retirement savings using their SRS funds.

Want to find out more about Retirement plans from other insurers? Here is the full comparison of the Best Retirement Plans.

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Schedule a Free Teleconsulting service with us today

You will be able to enjoy a free financial portfolio review which will help you better understand how to create a suitable financial plan for you and your family. We will analyse life insurance products from over 20 insurers and present you solutions that are tailor-made to address your concerns. 

Our advisor will be more than happy to help you understand any of these insurance policies: 

  • Health Insurance
  • Critical Illness Insurance
  • Endowment/Savings Insurance
  • Personal Accident Insurance
  • Term/Whole Life Insurance

If you would like to know more about a specific life insurance product you can let us know your preference. This is so that we can be better prepared during the appointment to present you with a comparison table if needed.

How will I be able to schedule an appointment?

You can WhatsApp us at 8750 0688 and let us know your preferred date and time for the appointment. The appointment will be conducted using Zoom a free video-conferencing app for video consultation on your computer or your phone. 

Alternatively, you can include your details in the form above and we will contact you to help you set up an appointment. 

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