Hashtag
Men's Weekly

Prudential launches indexed universal life insurance plan to meet rising legacy planning needs of the high net worth segment

The plan offers uncapped growth potential linked to the index performance along with features that protect against market uncertainties

SINGAPORE - Media OutReach Newswire - 3 June 2024 - Prudential Singapore ("Prudential") has introduced an indexed universal life (UL) insurance product, PRUVantage Legacy Index ("PVLI"), to address the growing protection and legacy planning needs of high net worth ("HNW") individuals in Singapore.


The indexed UL plan offers customers lifelong coverage against death and terminal illness, and can maximise the growth potential of their wealth for future generations while protecting it from market downturns. That is because unlike other plans in the market, the growth potential is tied to the uncapped performance of the S&P 500 Fast Convergence Index. At the same time, customers are protected with a floor rate of 0% for the index account, which means that the index account will not lose value due to negative market returns. Customers also enjoy a crediting rate of 4.5% p.a. for their fixed account in the first year.

The HNW segment in Singapore has been growing steadily in recent years, and the proportion of millionaires in Singapore is expected to rise from 7.5% in 2021 to 13.4% by 2030. By then, the proportion of millionaires in Singapore will be higher than that of the US, China, and other economies in Asia Pacific.1

PVLI is the latest addition to Prudential's suite of insurance plans that meet the needs of the growing HNW population.

Mr Goh Theng Kiat, Chief Customer Officer of Prudential Singapore, said that with increasing lifespans and affluence, there is also a growing need for more protection and legacy planning.

"High net worth individuals are looking for insurance solutions that go beyond basic protection and require plans that are tailored to securing their wealth and building a lasting legacy that can be passed on to future generations. PRUVantage Legacy Index is an insurance plan designed for this purpose, offering long-term coverage and growth potential for their legacy."

About PRUVantage Legacy Index (PVLI)

PVLI is a single premium indexed UL insurance plan that offers a high death and terminal illness coverage. The policy works on a dual account structure – a fixed account and an index account that is benchmarked against the S&P 500 Fast Convergence (FC) Index. This index dynamically adjusts its allocation several times a day based on volatility observations from the market, stabilising returns during market downturns.2

The key benefits of PVLI include:
  • Lifelong protection with high death and terminal illness coverage.
  • Maximised growth potential: Customers can access high-growth potential that is linked to the uncapped returns of the S&P 500 FC Index, allowing them to reap the full benefit of market upsides.3,4
  • Steady growth on fixed account: The fixed account enjoys a first year crediting rate of 4.5% p.a. and guaranteed minimum crediting rate of 2.0% p.a.
  • Protection from market downturns: A lifetime floor rate of 0% for the index account and a minimum crediting rate of 2.0% p.a.5
  • Customise premium allocation between fixed account and index account as financial needs and risk appetites evolve. Customers have the option to change allocations every year after the first policy year.
  • Loyalty crediting rate of 0.35% p.a. on the fixed account from the 11th year onwards.
There is a minimum sum assured of US$500,000.



1 Source: https://www.gbm.hsbc.com/en-gb/insights/global-research/the-rise-of-asian-wealth

2 For details on S&P 500 FC Index, please refer to: https://www.spglobal.com/

3 Subject to prevailing participation rates. The average participation rate is 70.0% in policy illustration, and the guaranteed minimum participation rate is 40.0%.

4 The S&P 500 FC TCA 0.5% Decrement Index (USD) ER (the "Index") is a product of S&P Dow Jones Indices LLC or its affiliates ("S&P DJI") and has been licensed for use by Prudential Assurance Co. Singapore (Pte) Ltd. ("Prudential"). S&P®, S&P 500®, US 500, The 500, iBoxx®, iTraxx® and CDX® are trademarks of S&P Global, Inc. or its affiliates ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). Fast Convergence and FC are trademarks of BofA Securities, Inc. and/or its affiliates ("BofAS"). BofAS has licensed the Fast Convergence (FC) patented methodology and related trademarks to S&P DJI for use in the Index. Prudential's products are not sponsored, endorsed, sold or promoted by S&P DJI, Dow Jones, S&P, BofAS or their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the Index. For details on S&P 500 FC Index, please refer to: https://www.spglobal.com/

5 This refers to Minimum Surrender Value (MSV) feature, please refer to Product Summary for details.
Hashtag: #PrudentialSingapore





The issuer is solely responsible for the content of this announcement.

About Prudential Assurance Company Singapore (Pte) Ltd (Prudential Singapore)

Prudential Assurance Company Singapore (Pte) Ltd is one of the top life insurance companies in Singapore, serving the financial and protection needs of the country's citizens for 93 years. The company has an AA- Financial Strength Rating from leading credit rating agency Standard & Poor's, with S$53.3 billion funds under management as at 31 December 2023. It delivers a suite of well-rounded product offerings in Protection, Savings and Investment through multiple distribution channels including a network of more than 5,200 financial representatives.

Business News

Highbrow Unveils Its New Beauty Salon at The Adelphi

SINGAPORE - Media OutReach Newswire - 27 June 2025 - HighBrow, one of Singapore’s most trusted names in brow, lash, and nail care, is thrilled to announce the launch of its new beauty salon at The Ad...

Hashtag.net.au - avatar Hashtag.net.au

Cyberport 5 as Hong Kong's New I&T Landmark

Driving Emerging Strategic Industries Development Heralding a New Chapter in Integration of I&T and the Community HONG KONG SAR - Media OutReach Newswire - 27 June 2025 - The Cyberport 5 b...

Hashtag.net.au - avatar Hashtag.net.au

VinFast signs dealer financing cooperation agreement with BCA

JAKARTA, INDONESIA - Media OutReach Newswire - 27 June 2025 - VinFast has officially entered into a pivotal financial partnership with PT Bank Central Asia Tbk. (BCA), one of Indonesia's leading priv...

Hashtag.net.au - avatar Hashtag.net.au

Food Expo PRO and Hong Kong International Tea Fair Return in August with New Coffee Zone and Expanded Halal Sector

HONG KONG SAR - Media OutReach Newswire - 27 June 2025 - Organised by the Hong Kong Trade Development Council (HKTDC), the Food Expo PRO and Hong Kong International Tea Fair will be staged concurrent...

Hashtag.net.au - avatar Hashtag.net.au

Food Expo PRO and Hong Kong International Tea Fair: One-Stop F&B Platform Returns in August

Spotlighting Food Science & Tech HONG KONG SAR - Media OutReach Newswire - 27 June 2025 - Organised by the Hong Kong Trade Development Council (HKTDC), the Food Expo PRO and Hong Kong Internation...

Hashtag.net.au - avatar Hashtag.net.au

The best CFD broker 2025': Octa receives yet another award

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 27 June 2025 - Octa, a globally regulated and trusted broker since 2011, was recently named 'The best CFD broker 2025' by the AllForexRating.com po...

Hashtag.net.au - avatar Hashtag.net.au

Health & Wellness

Telehealth Could be the Catalyst for Better Heart Health in Australia

Hashtag.net.au - avatar Hashtag.net.au

Image by stockking on Freepik Heart disease is one of the leading causes of death in Australia despite decades of advancements in medicine and health education campaigns. More than 400 Australians ...

Disability Care in Melbourne: What Families Need to Know in 2025

Hashtag.net.au - avatar Hashtag.net.au

If you’re supporting a loved one with a disability in Melbourne, you’ll know how important it is to find the right care—and how overwhelming it can be to navigate the system. With the National Disab...

Online Medical Certificate Services: Essential Features to Look Out For

Hashtag.net.au - avatar Hashtag.net.au

"Discover top online medical certificate services! Essential features to look for to get trusted and efficient results." Choosing high-quality services is essential for ensuring reliable, efficient, ...