PRUTerm

PRUTerm is a term life plan that pays a lump sum if you are total and permanently disabled or unfortunately pass away.

Affordable foundational coverage that lasts  

PRUTerm offers you coverage for life with affordable premiums. It is a basic term insurance in Malaysia that you can strengthen by adding on extra coverage.

About your plan

All ages in this table are age next birthday (ANB)

1. This content contains only a brief description of the product and is not exhaustive. You are advised to refer to  Prudential Assurance Malaysia Berhad (PAMB)’s Brochure, Product Disclosure Sheet, Sales Illustration, before purchasing the plan, and to refer to the terms and conditions in the policy document for details of the features and benefits, exclusions and waiting periods under the policy.

The benefit(s) payable under eligible certificate/policy is(are) protected by Perbadanan Insurans Deposit Malaysia (“PIDM”) up to limits. Please refer to PIDM’s Takaful and Insurance Benefits Protection System (“TIPS”) Brochure or contact Prudential Assurance Malaysia Berhad or PIDM (visit www.pidm.gov.my).

Term life insurance guarantees payment of a stipulated death benefit if death occurs to the insured person during the specified term. The policy holder can choose to renew, convert or terminate the policy once the term expires. 

Term life insurance simply expire. The insurance company sends a notice to the policy holder and the holder no longer needs to pay any premiums. There is no more death benefit. 

Term life insurance is for a set period of time. Policies are usually ten to thirty years. Once term life insurance expires, the holder can choose to renew the policy. However, premiums will be recalculated based on factors such as life expectancy, age and health of the insured.

Whole life insurance (traditional life insurance) covers the policy holder’s entire life and provides death benefit coverage. It usually includes a savings component that may accumulate cash value. Whole life insurance will cost you significantly more than term life insurance.

This depends on what you’re looking for. Term life insurance will give you the biggest death benefit per ringgit paid in premiums. However, traditional or permanent whole life insurance provides long-term protection and has a cash value investment component.

Term life insurance will provide a payout for your beneficiaries if you die within the covered period. It costs the least among all types of life insurance.

Because term life insurance is only for a period of time, you’ll want the payout to be able to cover debts and other obligations. It is often meant to pay expenses that would have been covered by the insured person’s income. Thus, you’ll need to estimate the amount your family will need during the time you’re insuring for.

Obviously, the term length and coverage amount will affect the rates. Some other factors include your:

• Age

• Health

• Family health history

• Gender

• Weight

• History of substance and nicotine use

• Risky hobbies and activities

• Credit