What is PRUmyretirement monthly income plan?

Whatever financial plans you have for the future, a guaranteed income can help you achieve your goals. With PRUmyretirement monthly income plan ("the Plan"), you can choose to receive a Monthly Income1 until age 1002 (age next birthday) after a premium payment period of 3 years. What's more, the Plan comes with a 3% annual increase on the Guaranteed Monthly Income1 giving you extra financial security.

Features:

  • Enjoy income starting from the 4th policy year
  • Steady income up to age 1002 (age next birthday)
  • 3% annual increase in Guaranteed Monthly Income1
  • Flexible options to receive income on a monthly basis or allow income to accumulate with interest3
  • Accidental Death Benefit for your added peace of mind
1 The Monthly Income is comprised of Guaranteed and Non-guaranteed Monthly Income. The Guaranteed Monthly Income will be increased by 3% per annum on each policy anniversary starting from the 4th policy anniversary until the end of the Income Period. The 3% increment will be based on the Guaranteed Monthly Income in the preceding policy year. The amount of Non-guaranteed Monthly Income may be adjusted on each policy anniversary while the policy is in force based on the actual experience and projection of the Plan (including but not limited to investment returns, expenses, claims and persistency experience). The actual values of Non-guaranteed Monthly Income may change with the values being higher or lower than those illustrated. In particular, the Non-guaranteed Monthly Income may increase or decrease during the Income Period.
2 Option only applicable to the issue age of 55-72 (age next birthday).
3 The annual interest rate of money accumulated in the Accumulation Account is subject to change from time to time at the sole discretion of Prudential Hong Kong Limited("Prudential") and is therefore, not guaranteed. For the purpose of this illustration, the current projected crediting rate is 3% p.a. The actual crediting rate earned on the Accumulation Account in the future depends on a number of factors. These include but are not limited to the investment performance, liquidity requirement, policyholders withdrawal behaviour on the Accumulation Account as well as the prevailing yields available in the market. In particular, if interest rates continue to stay low for a persistently long period of time up to the extent where the effective crediting rate earned on the Accumulation Account is less than 3.0% p.a., the actual Accumulation Account Balance will be lower than that illustrated.
Important notes:
PRUmyretirement monthly income plan is a regular premium insurance plan. It is not a bank deposit. Part of the premium is applied to pay for the insurance and related costs.
You should not apply for the Plan unless you are fully prepared to hold your policy until maturity. Early surrender of your policy may result in you getting back considerably less than the sum you have paid in.
Your investment is subject to the credit risk of Prudential Hong Kong Limited("Prudential").
If you cancel your policy during its cooling-off period, Prudential will refund the premium paid by you in the original currency tendered without interest.
You are not allowed to withdraw any amount other than the Monthly Income payment nor apply for a policy loan from your policy.
The Plan is offered for a limited period only. Prudential reserves the right to withdraw the Plan from the market at any time at its sole discretion without prior notice, regardless of whether or not your policy application has already been received. Prudential will, however, return the premium already paid by you in the original currency tendered without interest if it decides to withdraw the plan after its receipt of your policy application.
Prudential reserves the absolute right to accept or decline any application based on the information provided by the proposer and/or life proposed during the application.
Backdating of the commencement date of the Plan is not permitted.
The offer of Accidental Death Benefit is subject to underwriting rules. Prudential reserves the right of final decision on whether to offer this benefit.

The above information is for reference only. For more information, terms and conditions of the respective life insurance plan, please refer to the relevant policy document and product leaflet.

Note: The life assurance plans are life insurance products underwritten by Prudential Hong Kong Limited (a member of Prudential plc group) ("Prudential") and distributed by Standard Chartered Bank (Hong Kong) Limited (“Standard Chartered”). Some of these plans may have a savings element, in which case, part of the premium will be used to pay for the insurance and related costs. A customer who has bought the life assurance plans has a right to cancel the policy within the cooling-off period and obtain a refund of any premium(s) paid less any withdrawals. Provided that no claim has been made, the customer may cancel the policy by giving written notice to Prudential within 21 days after: (a) the delivery of the policy or (b) the issuance of a notice (informing the availability of the policy and expiry date of the cooling off period) to the customer / his / her representative, whichever is earlier. After the cooling off period expires, if a customer cancels the policy before the end of its policy term, the projected cash value may be substantially less than the total amount of premiums paid.

Standard Chartered is an insurance agent of Prudential.

As the issuer of the life assurance plans, Prudential will be responsible for all protection and claims issues. Prudential is not an associate or subsidiary company of Standard Chartered. This promotional material is not a contract of insurance and is intended to be a general summary for reference purpose only. Please refer to the policy for full terms and conditions. Standard Chartered does not accept any responsibilities regarding any statements provided by Prudential or any discrepancies or omissions in the contract of insurance nor shall Standard Chartered be held liable in any manner whatsoever in relation to your contract of insurance.

This promotional material is intended to be distributed in Hong Kong only and shall not be construed as an offer to sell or solicitation to buy or provision of any insurance product outside Hong Kong. Prudential and Standard Chartered do not offer or sell any insurance product in any jurisdictions outside Hong Kong in which such offering or sale of the insurance product is illegal under the laws of such jurisdictions. This promotional material does not constitute a contract of insurance or an offer, invitations or recommendation to any person to enter into any contract of insurance or any transaction described therein or any similar transaction. Customers should not rely on the information in this promotional material alone into any transaction. Specific professional advice is recommended.

Whether to apply for insurance coverage is your own individual decision. For Prudential’s life assurance plan policy provisions, details and risk disclosure please refer to relevant plan’s product leaflet/offering document and specimen policy.

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We understand that everyone has different protection and financial needs. Simply make an appointment with us online, and our representative will contact you shortly and invite you to visit to your nearest Standard Chartered branch at a time most convenient for you for a Financial Needs Analysis. Upon completion of it, you will receive a Complimentary Gift from us. Subject to relevant Terms and Conditions.

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Promotion

Successfully apply for designated life insurance product(s) underwritten by Prudential to enjoy fabulous promotional offers. For details please visit your nearest Standard Chartered branch.

Terms and Conditions

Notes:
The life assurance plans are life insurance products underwritten by Prudential Hong Kong Limited (a member of Prudential plc group) ("Prudential") and distributed by Standard Chartered Bank (Hong Kong) Limited ("Standard Chartered"). Some of these plans may have a savings element, in which case, part of the premium will be used to pay for the insurance and related costs. A customer who has bought the life assurance plans has a right to cancel the policy within the cooling-off period and obtain a refund of any premium(s) paid less any withdrawals. Provided that no claim has been made, the customer may cancel the policy by giving written notice to Prudential within 21 days after: (a) the delivery of the policy or (b) the issuance of a notice (informing the availability of the policy and expiry date of the cooling off period) to the customer / his / her representative, whichever is earlier. After the cooling off period expires, if a customer cancels the policy before the end of its policy term, the projected cash value may be substantially less than the total amount of premiums paid.

Standard Chartered is an insurance agent of Prudential.

As the issuer of the life assurance plans, Prudential will be responsible for all protection and claims issues. Prudential is not an associate or subsidiary company of Standard Chartered. This webpage is not a contract of insurance and is intended to be a general summary for reference purpose only. Please refer to the policy for full terms and conditions. Standard Chartered does not accept any responsibilities regarding any statements provided by Prudential or any discrepancies or omissions in the contract of insurance nor shall Standard Chartered be held liable in any manner whatsoever in relation to your contract of insurance.

This webpage is intended to be valid in Hong Kong only and shall not be construed as an offer to sell or solicitation to buy or provision of any insurance product outside Hong Kong. Prudential and Standard Chartered do not offer or sell any insurance product in any jurisdictions outside Hong Kong in which such offering or sale of the insurance product is illegal under the laws of such jurisdictions. This webpage does not constitute a contract of insurance or an offer, invitations or recommendation to any person to enter into any contract of insurance or any transaction described therein or any similar transaction.

Whether to apply for insurance coverage is your own individual decision. For Prudential's life assurance plan policy provisions, details and risk disclosure please refer to relevant plan's product leaflet/offering document and specimen policy.

Important Note:
This Life Insurance Services may involve introducing investment-linked insurance plans to you. The investment decision is yours but you should not invest in such plans unless the intermediary who introduced them to you had explained to you that such plans are suitable for you having regard to your financial situation, investment experience and investment objectives.

Risk Disclosure Statement:

  • Investment involves risks. The investment returns under investment-linked insurance plans are calculated with reference to the fluctuation of performance of the underlying assets or underlying funds of the policy's investment choices. The investment returns are not guaranteed and it is possible for investor(s) to suffer loss of investment and premium paid.
  • Whether to apply for insurance coverage is your own individual decision. For Prudential's life assurance plan policy provision, details, important note and risk disclosure, please refer to relevant plan's product leaflet / product brochure and specimen policy.

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