Prudential Singapore has launched two pioneering index-linked plans, PRUIndex Income Boost (PIIB) and PRUIndex Lifetime Income (PILI), designed to help Singaporeans enhance their wealth whilst safeguarding savings against market volatility. These plans, unveiled on 10 September, offer guaranteed monthly cash benefits from the first month, with potential for increased payouts linked to index growth from the 13th month.
PIIB is an endowment plan with a capital guarantee at maturity after 15 years, whilst PILI is a whole-life plan offering guaranteed lifetime monthly cash payouts, ideal for those planning generational wealth transfer. Customers can choose from three indices: UBS MASTR Index, S&P 500 FC Index, and Barclays Shiller Allocator Index.
Jason Lim, Head of Product Management at Prudential Singapore, highlighted the importance of these solutions, stating, “As Singaporeans are living longer, many are preparing for retirement and seeking secure ways to grow their wealth by investing more and building passive income streams.”
Both plans provide downside protection with a 0.0% floor rate, ensuring customers are shielded from market downturns. PIIB offers a capital guarantee at maturity, whilst PILI supports financial security across extended retirement years with its lifetime cash benefits.
These offerings reflect Prudential’s commitment to providing innovative financial solutions, enabling customers to plan effectively for their financial futures. As Singaporeans increasingly focus on retirement planning, these plans offer a blend of stability and growth potential, ensuring a lasting financial legacy.
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