Pru Life UK has unveiled PRUSteady Income, a new 20-year endowment insurance plan designed to address the evolving financial priorities of Filipinos by combining guaranteed life protection with a predictable income stream.
Targeted at individuals balancing present-day financial responsibilities with future goals, the plan provides guaranteed annual cash payouts equal to 10 percent of the sum assured from years 11 to 20. At maturity, policyowners receive the full sum assured as a lump-sum benefit. In case of the insured’s death during the term, beneficiaries receive up to 200 percent of the sum assured, and the policy builds loanable cash values for added flexibility.
According to Garen Dee, chief product officer, the product was developed as a practical solution to help customers manage both short-term needs and long-term aspirations. The plan is positioned to appeal to parents investing in their children’s future, as well as freelancers seeking financial stability and growth.
PRUSteady Income reflects Pru Life UK’s ongoing commitment to client-centric innovation and its broader mission to promote financial security and literacy across the Philippines. The launch further expands the insurer’s portfolio of tailored offerings for diverse customer segments.
