Without the jargon, it simple means it is an endowment plan that pays out a guaranteed sum every year from the end of first year till the policy matures.
The diagram above summarises the basic structure of the PRUcash double reward for a male non-smoker, aged 35, with an annual premium of RM20,180, sum assured of RM100,000, for a 20-year policy term plan and a premium payment term of 10 years.
Note:
The projected values are for illustrative purposes only. They are neither guaranteed nor based on past performance. The projected values assume current law, tax and prescribed investment returns. In this example, the policy is assumed to earn a gross investment return of 7% p.a. The projected maturity benefit received of RM222,181 is the sum of the Compounded Reversionary Bonus + Terminal Bonus + Sum Assured + final year annual guaranteed payout. Please refer to the sales illustration on the derivation of all guaranteed / projected values.
Why Double Rewards?
1. Sum Assured
- For policy year up to 5 years = Initial basic sum assured
- For policy year 6 onwards = 2x initial basic sum assured
2. Annual guaranteed payout
- For policy year end of 1st to end of 5th year = 3% of Basic Sum Assured
- For policy year end 6th year onwards = 6% of Basic Sum Assured i.e 2x the initial payout
For more info or detail explanation, please email me.
