PRUfirst education

As a loving parent, you want to give your child the best education for a strong head start in life. Whether it is planning for tertiary education in Singapore or overseas, you need to start saving for the rising costs of education.

With PRUfirst education, you can plan ahead for your child's education funds so that they will be in place when needed.

Key Benefits

Be prepared for education expenses
- Provides you with guaranteed Cash Benefit¹ in the last two years before your policy matures. These payouts can be used to fund your child's education, flight and living expenses.
- Flexibility to leave these guaranteed Cash Benefit¹ with us to enjoy annual interest² on the accumulated guaranteed Cash Benefit for higher returns.
- Receive your Maturity Benefit³ in a lump sum when the policy matures.
Flexible policy terms
- The policy terms start from 13 to 24⁴ years, so you can choose a term that best suits your goals for your child's education needs.
Choice of premium payment terms
- Choose to save with premium payment terms of 5, 10 or 15 years, at the pace you are comfortable with.
Coverage against the unforeseen
- Covers your child against death⁵, Terminal Illness⁵, and Total and Permanent Disability⁵ during the policy term.
Continued coverage for your child⁶
- Your child can buy a new policy on the maturity of his or her PRUfirst education policy without the need for any medical underwriting.
Enhance your plan for greater coverage
- Enjoy added peace of mind with additional supplementary benefits such as Early Payer Security⁷, Payer Security lll/Payer Security Plus and Comprehensive Personal Accident lll⁸

How it works

Footnotes:

Guaranteed Cash Benefit is 25% of the PRUfirst education sum assured payable on the second last and last Policy Anniversary before the policy matures.
The interest rate is not guaranteed and is subject to change according to prevailing market conditions.
Maturity Benefit is 50% of the PRUfirst education sum assured plus all bonuses and accumulated guaranteed Cash Benefit (if any), less any outstanding amounts owing to Prudential. Bonuses are not guaranteed and will vary according to the future performance of the participating fund.
The maximum expiry age is 25 years of age on next birthday.
A claim can be made for either Death Benefit, Accelerated Terminal Illness Benefit or Accelerated Disability Benefit.
This benefit is only applicable to PRUfirst education policy purchased for your child on standard terms. The sum assured for the new policy can be up to the amount equal to the sum assured of the Death Benefit in the PRUfirst education policy, increased at a compounded rate of 5% for each year you hold the PRUfirst education policy, subject to a maximum sum assured of $300,000 per life.
Upon diagnosis of Early or Intermediate Stage Medical Conditions, the future premiums of the covered benefits will be waived for 5 years or 10 years respectively, or the remaining premium payment term, whichever is shorter. The maximum premium waiver period is 10 years, after which the benefit terminates and premium payment for the covered benefits resumes.
Optional benefit of Medical Reimbursement III can be added to Comprehensive Personal Accident III.
Premium quoted consists of an annual premium of $17,783 for PRUfirst education and an annual premium of $553.05 for Payer Security III. Annual premiums illustrated are based on a male parent, non-smoker, aged 35 next birthday purchasing PRUfirst education with a sum assured of $100,000 for his daughter aged 1 next birthday, with a 5 year premium payment term and policy term of 21 years, and a Payer Security III supplementary benefit.
The illustrated values use bonus rates assuming a projected investment rate of return of 4.75% per annum for the participating fund. Bonus rates are not guaranteed and will vary according to the future performance of the participating fund.

Important Notice & Disclaimers
Buying a life insurance policy is a long term commitment. An early termination of the policy usually involves high costs and the surrender value payable (if any) may be less than the total premiums paid. Some products stated have no cash value. Buying health insurance products that are not suitable for you may impact your ability to finance your future healthcare needs. Premiums for some of the supplementary benefits are not guaranteed and may be adjusted based on future claims experience. This marketing material is solely for use in Singapore and for reference only and is not a contract of assurance nor is it intended as an offer, solicitation or recommendation with respect to the purchase or sale of the products and/or supplementary benefits stated herein. The precise terms and conditions, specific details and exclusions applicable to these insurance products stated herein are specified in the respective policy documents. The above is for general information only and does not have any regard to your specific investment objectives, financial situation and any of your particular needs. You are recommended to read the policy documents and to seek advice from a financial adviser with regards to your specific investment objectives, financial situation and any of your particular needs before making a commitment to purchase any insurance products and any supplemental benefits. In the event that you choose not to seek advice from a financial adviser, you should consider carefully whether any of the insurance products and any supplemental benefits is/are suitable for you. In case of inconsistency between the English and Chinese versions, the English version shall apply and prevail. United Overseas Bank Limited does not hold itself out to be an insurer, insurance broker or insurance agent. The insurance products stated herein are provided by Prudential Assurance Company Singapore (Pte) Limited.

United Overseas Bank Limited Co. Reg. No. 193500026Z
Prudential Assurance Company Singapore (Pte) Limited Reg. No. 199002477Z
Information is correct as at 1 March 2016.