I'm LongbridgeAI, I can summarize articles.Prudential Singapore launched PRUApex Legacy Index II, a new indexed universal life plan targeting affluent clients with a $500,000 minimum sum assured. The product offers flexible wealth transfer and legacy planning, allowing premium allocation across indices like the S&P 500 and MSCI Emerging Markets. It features variable death benefits, crediting rate bonuses for multi-pay terms, and options for lump sum or installment payouts.
Policyholders can divide premiums across the S&P 500 and more.
Prudential Singapore has launched a new indexed universal life plan, PRUApex Legacy Index II, targeted at affluent and high-net-worth customers seeking flexible wealth transfer and legacy planning solutions.
Customers can enrol in the plan with a minimum sum assured of $500,000. Premium terms range from single-premium payments up to multi-pay options of 20 years.
The product allows policyholders to allocate premiums across multiple indices, including standard market benchmarks such as the S&P 500, MSCI Emerging Markets, and EURO STOXX 50.
It also offers access to a gold-equity index and several volatility-controlled options, such as the S&P 500 FC, UBS MASTR, Barclays Shiller Allocator, and MSCI World Golden Compass.
Under the new plan, indices with uncapped returns receive an additional crediting rate of 0.25% per annum.
Policies on a multipay premium payment term qualify for a one-off bonus crediting rate of up to 6.50% on total account value after the premium term ends, provided the policy is fully paid.For the policy's Fixed Account, Prudential offers a first-year crediting rate of
4.20% per annum, alongside a guaranteed minimum crediting rate of 2.00% per annum.
The plan introduces variable death benefit structures, allowing beneficiaries to receive payouts either as a single lump sum or through annual instalments over a period of two to ten years.