Tuesday, January 22, 2008

Prudential launches new PRUlink income retirement plan


KUALA LUMPUR: Prudential Assurance Malaysia Bhd is targeting individuals aged 35 to 60 years for its new PRUlink income retirement plan.

“This is the first single premium investment-linked plan in the market designed to ensure that there is a guaranteed monthly income during retirement life,” said chief executive officer Tan Kar Hor.

At the recent launch of PRUlink income, he said the product presented an opportunity for Malaysians to invest just a one-time premium to be able to reap the benefits after retirement.

The minimum single premium is RM10,000, which would be invested for a fixed period ranging from five to 40 years, Tan said.

He said 95% of the single premium paid would be invested in the newly created PRUlink golden equity and bond funds (during accumulation stage) and PRUlink golden managed fund (during payout stage) for a more secured and less volatile retirement investment.

During the payout stage, the customer would receive a stream of guaranteed monthly income over a specified number of years, he added.

Tan said the product ensured higher guaranteed returns, lump sum payout, flexible withdrawals and also covered the customer for misfortunes such as death or total and permanent disability. – Bernama

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