New Pru Life insurance plan comes with cancer coverage
Mary Grace Padin (The Philippine Star) – November 13, 2020 – 12:00am
MANILA, Philippines — Pru Life Insurance Corp. of UK has introduced a new investment-linked insurance plan, which provides protection against the financial burden caused by cancer.
In a statement, Pru Life UK senior vice president and chief marketing officer Allan Tumbaga said the insurer is expanding its portfolio of health protection products with the launch of PRUHealth Prime, a life insurance plan that offers critical illness coverage against all forms of cancer.
“PRUHealth Prime protects every Filipino against the risk of bearing heavy financial burdens caused by cancer. Everyone deserves peace of mind when it comes to their health, so that they can focus more on saving up to achieve their personal and family life goals,” Tumbaga said.
According to Pru Life UK, this new product has a death benefit amounting to 100 percent of the sum assured, less any early-stage cancer benefit payout.
An early-stage cancer benefit advances 50 percent of the sum assured or P3.75 million, whichever is lower. A late-stage cancer benefit, meanwhile, amounts to 100 percent of the sum assured, plus the fund value, less any early-stage cancer claim.
Pru Life UK said the plan also features a hospital benefit that is activated upon admission due to early or late-stage cancer diagnosis, with twice the amount payable upon admission to the Intensive Care Unit.
The company said PRUHealth Prime has a maximum coverage of P3 million for juveniles and P15 million for adults, in the event of death or a late-stage cancer diagnosis.
It also has a maximum limit of P1.5 million for juveniles and P3.75 million for adults in the case of a diagnosis with early-stage cancer.