Prudential targets wealthy clients with $500,000 legacy cover

Policyholders can divide premiums across the S&P 500 and more.

Prudential Singapore has launched a new indexed universal life plan, PRUApex Legacy Index II, targeted at affluent and high-net-worth customers seeking flexible wealth transfer and legacy planning solutions.

Customers can enrol in the plan with a minimum sum assured of $500,000. Premium terms range from single-premium payments up to multi-pay options of 20 years.

The product allows policyholders to allocate premiums across multiple indices, including standard market benchmarks such as the S&P 500, MSCI Emerging Markets, and EURO STOXX 50.

It also offers access to a gold-equity index and several volatility-controlled options, such as the S&P 500 FC, UBS MASTR, Barclays Shiller Allocator, and MSCI World Golden Compass.

Under the new plan, indices with uncapped returns receive an additional crediting rate of 0.25% per annum.

Policies on a multipay premium payment term qualify for a one-off bonus crediting rate of up to 6.50% on total account value after the premium term ends, provided the policy is fully paid.For the policy's Fixed Account, Prudential offers a first-year crediting rate of

4.20% per annum, alongside a guaranteed minimum crediting rate of 2.00% per annum.

The plan introduces variable death benefit structures, allowing beneficiaries to receive payouts either as a single lump sum or through annual instalments over a period of two to ten years.

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