What are the pros and cons of the pruwealth insurance saving plan?

If you look at the policy illustration, you will notice that the guaranteed cash value is capped at the total premium paid, which means 100% of the return is non guaranteed. This makes the plan not competitive. Compare with other similar plans from other insurers, you will notice that there is no capping for the guaranteed cash value, thereby providing some guaranteed returns, which is non-existence for PruWealth. So always compare with various companies before you commit to a long term plan.

Hi Anonymous,

There are two versions of PruWealth; PruWealth (1) and PruWealth II (2). From my understanding, only PruWealth (2) is available to buy. The only way I can think of to buy PruWealth (1) is to buy a 2nd-hand one like the one we have here, details here.

Brochure:

• PruWealth (1)

• PruWealth (2)

Whether it's worth buying PruWealth, depends on whether if fits into your financial objectives. Also, before deciding on buying PruWealth, ensure that you read and understand the following statement, which can be found in the proposal:

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.

Do speak with your financial advisor if PruWealth fits into your financial objectives. If you need a financial advisor to refer, do contact us via our website or our Facebook page as we have a network of financial advisors to refer.

Disclaimer: PolicyWoke is a 2nd-hand endowment policies broker