All about PRUSaver

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Secure your financial needs with the right protection

PRUSaver can be your best tool to save for your future while having the benefit of life cover to provide financial security for your family to cope with unfortunate contingencies. As you will be saving regularly, you will receive a cash benefit upon maturity of your policy. The cash benefit can be used for your dream house, vacation, business or your child's education.

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Savings Made Easy

Secure the money you need for big, future expenses in just 5, 7, or 10 years. Simply set a fixed payment amount that you can pay as a form of savings on a regular schedule. You will finally receive the full cash benefit once the payment term is over.

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Building a Fund to Achieve Your Dreams

Regardless of your age, you can start building a fund to help make your dreams a reality. Our PRUSaver insurance plan offers savings options starting from 1 million MMK (1,000,000 MMK) to 50 million MMK (50,000,000 MMK) and caters to a range of people aged 10 to 60 years old. If you’re a parent, you can set aside money for your children who is at least 10 years old. It’s a way to educate your child in the value of saving for the future.

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Money When You Need It Most

Life is unpredictable. PRUSaver insurance plan lets your beneficiary receive cash benefits in case of total and permanent disability and death. It also provides financial protection so you won’t have to worry about expenses for your medical treatment in case of total and permanent disability.

Saving Your Money to Secure Your Dreams

  • Sum Insured (amount of cash you are saving for) – 5,000,000

  • MMKPolicy Term (amount of time you need to save) – 5 years

  • Annual Premium (amount you need to pay every year) – 954,000 MMK

  • Maturity Benefit (what you’ll get when you’re finished saving) - 100% of Sum Insured received at the end of the policy term.

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Financial Protection When the Unexpected Happens

  • Sum Insured (amount of cash you are saving for) – 5,000,000 MMK

  • Policy Term (amount of time you need to save) – 5 years

  • Annual Premium (amount you need to pay every year) – 954,000 MMK

  • Scenario Example: Should the Insured pass away during Year 3 of the policy, the beneficiary of the Insured will receive a payout of the death benefit which is 100% of the Sum Insured. Following payout of the death benefit, the policy will be terminated.

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Enjoy Tax Relief with PRUSaver

PRUSaver savings and insurance plan payments may be tax deductible. This can reduce your annual personal income tax and makes payments to your policy more affordable. Our PRUTax Calculator (link to be added) estimates the tax savings that you could potentially enjoy if your PRUSaver savings and insurance plan payments are tax deductible. You should seek professional tax advice to understand what tax deductions, if any, apply to your individual circumstance.

Reminders Before Signing Up for PRUSaver:

  1. Product Exclusions – There are conditions that may affect the full payout of the death benefit or the total and permanent disability benefit. Death claim may not be paid if cause is due to suicide and/or there was material misrepresentation at the time of purchase. Total and permanent disability claim may not be paid if cause is self-inflicted, use of prohibited drugs and more. Please refer to the detailed terms and conditions in the Insurance Policy Contract to get a more comprehensive understanding of the plan.

  2. You may be required to undergo a medical examination and to make declarations about your health and physical condition before purchasing this product. This may be due to amount of your sum assured, age and/or occupation.

  3. The policy coverage will be terminated if Prudential Myanmar uncovers that incorrect information was shared regarding the medical and/or physical condition of the Insured.

  4. Should you purchase this product and decide to discontinue paying it, a surrender value may be available for you. However, this amount is substantially lower than your paid premiums and it may mean some losses for you.

  5. To maximize the value of this product, 56 years old and older must file premium payments to this product as tax deductib­­le. Not doing so may result to possibly paying more than maturity value of this product.