PRUlink assurance plan is a regular premium investment linked whole life plan. This investment-linked policy (ILP) offers a combination of insurance protection and investment. The basic plan pays a lump sum death benefit (i.e. the sum assured) and the value of the investment units, at the time of claim, if you are totally and permanently disabled before age 70 or die, during the term of the policy.
The insurance company allocates a portion of the premium to purchase units in the investment-linked fund that you have chosen.
Illustrated below is the premium allocation rate for a benefit term of 20 years and above. For benefit term below 20 years, the premium allocation rate will be scaled up proportionately.
Free-look period – you may cancel your ILP by returning the policy within 15 days after you have received the policy. The insurance company will refund to you the unallocated premiums, the value of units that have been allocated (if any) at unit price at the next valuation date and any insurance charge and policy fee that have been deducted less any medical fee incurred.
Critical illness benefits under the policy will only start 60 days after the effective date of the policy for heart attack, coronary artery disease and cancer and 30 days for all other illnesses
PRUhealth and PRUannual limit waiver under the policy will only start 120 days after the effective date of the policy for specified illnesses and 30 days for all other illnesses. Cover for hospitalisation due to accidents commences immediately.
PRUmed and/or Hospital Benefit under the policy will start immediately for hospitalisation due to accidents and 30 days for any other causes
Co-insurance – you will have to pay 10% of the total costs incurred, subject to maximum of RM1,000 for Hospital & Surgical Benefit and RM2,000 for Outpatient Treatment Benefit.