Pru Life UK has unveiled its first Shari’ah-compliant life insurance product in the Philippines, the PRUTerm Lindungi, marking a landmark innovation in the insurance sector. Rooted in Islamic principles of mutual aid, fairness, and shared responsibility, the plan is designed to provide inclusive, ethical, and affordable life protection for Filipinos of all backgrounds.
Starting at just P250 annually for P100,000 in death benefit, PRUTerm Lindungi eliminates interest (riba), gambling (maysir), and uncertainty (gharar), making it fully compliant with Islamic finance principles. Available to Filipinos aged 18 to 60, the plan is renewable yearly, enhancing accessibility and flexibility.
Policyholder contributions go into a Shari’ah-compliant Tabarru’ Fund, managed separately from Pru Life UK’s conventional operations. Claims are paid from this fund, and any unused amounts may be fairly redistributed, reinforcing transparency and community solidarity.
“This is life protection powered by and for the community,” said Paul Mandal, senior vice president and chief legal and sustainability officer at Pru Life UK. “PRUTerm Lindungi is a celebration of solidarity and respect for diverse beliefs.”
Inspired by Prudential’s successful Takaful models in Malaysia and Indonesia, this product further establishes Pru Life UK’s position as a leader in faith-based and inclusive financial solutions. While developed with Muslim Filipinos in mind, it is open to all, aiming to protect breadwinners, small business owners, young adults, and students.
PRUTerm Lindungi represents a strategic and socially impactful innovation in the Philippine insurance landscape—an inclusive model of protection “for every faith, every Filipino, and every future.”
