PRUInvestor Plus

The PRUInvestor Plus is a whole life assurance policy with a savings(investment) component.

Features;

• Age requirement: Minimum and maximum entry ages are 18 and 65 respectively
• Policy Term: Whole life of the policy holder.
• Premium: Minimum UGX.100,000 and Maximum determined by Sum Assured
• Sum Assured: Minimum and maximum sums assured are 20 million and 3 billion respectively.
• Premiums can be increased on Policy birthday
• Cover: Cover is for the whole life of the policy holder
• Cover Terms: One can choose to pay premiums up to age; 50, 55, 60, 65 and 100 years.
• Allocation: The minimum risk percentage is 20% and maximum risk percentage is 100% of the gross premium. The higher the risk portion, the higher the risk cover (sum assured). The minimum sum assured is UGX20,000,000.
  The minimum investment percentage is 0% and maximum investment percentage is 80% of the gross premium.

• Waiting Period: 2 months will apply on the policy following a reinstatement after a lapse

• Death benefit: In the event of death, Prudential pays 100% of the sum assured plus the accumulated fund value if any. Policy ceases when benefit is paid.
• Critical illness: 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 policy term. The death benefits are still payable when they fall due.
• Permanent Total Disability: 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.
• Main Policy Exclusions (What Is Not Payable): Suicide and Self-inflicted Injury, Military Service, Riot & Civil Commotion, War, Aviation (Military Personnel), War, Riot and Civil Commotion (Non – Military Personnel), Illnesses not disclosed prior to taking out policy, Hazardous Occupations & Aviation.
• Risk Sum Assured: The risk sum assured earns a discretionary bonus every year the policy remains in force
• Investment Contributions: The investment contributions earn a discretionary annual compound interest payable monthly
• Withdraws: The client qualifies to withdraw 100% of the accumulated fund value plus any declared interest every 3 years during the premium paying term. On withdrawing the investment funds within the first two years, a percentage of the accumulated fund is payable as follows: 75% after 6 months, 85% between 7 and 12 months, 90% between 13 and 24 months and 100% thereafter
• Surrender: The policy acquires a surrender value after 2 years. This will be much less than the sum assured and is payable in addition to the accumulated fund (savings plus interest) if any.
• Termination/Cancellation of Policy Before Policy Maturity: Upon termination of the policy at any time after the cooling off period, a percentage of the accumulated fund shown in the table below is payable in the first 2 years thereafter 100% of the accumulated fund is payable.

Know more about the product here - https://www.prudential.ug/pruinvestorplus/#